Triangle has a 50% interest in the Mt Horner L7 Production Licence (L7) and the EP 437 exploration licence. The Mt Horner licence overlies the Allanooka Terrace in the North Perth Basin and is adjacent to the prolific Dandaragan Trough, and south of Geraldton, located about five hours drive north of Perth.

The L7 Permit is situated just north of the large Waitsia, Senecio and Lockyer Deep gas fields and contains highly attractive, similar-looking structures with the same reservoir targets.

A 3D seismic survey over the highly prospective L7 Permit was completed in May 2022. The seismic data was processed in Canada and has been used to derive prospective resources in the two permits.

In August 2024 the Booth-1 was drilled in the eastern end of permit L7, which did not encounter hydrocarbons. The second well in these permits, Becos-1 will be drilled in EP 437 and is scheduled to commence at the end of March 2025.

Triangle is commencing planning for a third well to be drilled in these permits, likely to be located in permit L7.

Refer to Triangle’s most recent ASX announcements for the most up-to-date information on Mount Horner (L7).