Triangle Energy (Global) Limited (ASX:TEG) is an experienced and successful oil production and exploration company based in Perth, Western Australia.
The Company is the majority owner (78.75%) and registered operator of the Cliff Head Oil Field and Arrowsmith Stabilisation Plant located approximately 300km north of Perth in the Perth Basin. It is a 45% partner in the newly discovered Xanadu-1 oil field, and has entered into a Farmout agreement to acquire 50% of the L7 Mt Horner asset, both also in the Perth Basin. Triangle is the largest shareholder of State Gas (ASX:GAS) in Queensland with a 35.47% interest. The Company has a number of highly prospective exploration programs and continues to assess joint venture and acquisition prospects to expand its portfolio of assets.
Watch: Darren Bromley
Executive Director Darren Bromley presented Triangle Energy at the RIU Good Oil Conference in Perth, Western Australia. He provided a company update and near-term activities at Cliff Head and surrounding Perth Basin.
- Triangle is the Registered Operator and majority owner (78.75%) of the Cliff Head Oil Field in the Perth Basin
- Cliff Head Oil Field contains the only offshore and operating onshore crude oil facilities in the Perth Basin, including the Alpha offshore platform and onshore Arrowsmith Stabilisation Plant and associated pipelines
- Exploration upside at Cliff Head includes potential resources within the already discovered reservoirs as well as near field targets
- 45% Joint Venture partner in the Xanadu-1 oil discovery located in the Perth Basin
- Entered into a Farmout Agreement to acquire 50% interest in L7 Mt Horner in the Perth Basin
- Largest shareholder (35.47%) in State Gas (ASX: GAS) which holds an 80% interest in PL231 (Reids Dome) in Queensland