Triangle has a 50% interest in the EP 437 exploration licence. The permit lies on the northern edge of the Perth Basin and contains the Wye-1 gas discovery and other wells with oil shows. It is located south of Geraldton, about five hours drive north of Perth.

The EP437 Permit is situated just north of the large Waitsia gas field.

A 3D seismic survey over the L7 and EP 437 Permits was completed in May 2022. The seismic data was processed in Canada and has been used to derive prospective resources in the two permits.
The permit contains the Becos prospect, which is to be drilled in April 2025.