entry for stt list
TNP >fa
Triple Energy Ltd is an oil and gas exploration company.
The Company’s primary focus is on the Aolong Coal Mine Gas project within the Cooperative Joint Venture with LongMay Coal Mining Company in China.
Market Cap ~$4m
Share Price 0.005c
Cash $850k
Debt $0
Triple Energy holds an 80% interest in a Cooperative Joint Venture (CJV, known as Aolong Energy (Aolong JV)
with LongMay Coal Mining Company (Longmay), one of China’s largest State-owned coal mining companies.
The CJV was formed such that the coals identified for future underground mining by Longmay can be de-gassed
and hence facilitate safer mining operations in the future. The coals in the respective lease areas have a history of
explosions and fires whilst mining and core drilling, due to high gas content.
The CJV has the objective of degassing the coal mining leases held by Longmay and has a life of 45 years.
The CJV is staged, initially covering five mine areas, with exclusive access that can ultimately extend the CJV area to cover up to a total of 42 mine areas.
A Memorandum of Understanding (“MoU”) was entered into with Blue Sky Power Holdings
Limited, (“BSP”), of Hong Kong on 13 August, 2014. An updated binding MoU was announced 26/11/14
The overall transaction, subject to the necessary approvals, will see BSP take a controlling
interest in TNP and will enable the company to progress its coal gas project in Heilongjiang
China. Shareholders to vote in Jan, drilling > fraccing after Chinese New year.
Good buying at these levels in preparation for next years program imo
comments welcome
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