News: TEG Triangle Energy (Global) Raises A$3.5 Million For Production Upgrades, page-9

I thought I would get the collective thoughts from those who have suffered through TEG for the many years. Itsagas is just one.

Well at least the new management and board have kept shareholders informed. You have all suffered through capital raising after captial raising to keep the old management paid and board in place. The reality is that shareholders suffered through years inaction.

But now another capital raising AGAIN. The truth is that no matter what the shade of lipstick the TEG CLiff heasset is still an uncommercial PIG. Yes keeping production at 600 bbls/d and then having to trathe Geralton makes no economic sense - it just doesn't pay the bills. Yes raise money to up production to keep away any thought of decommissioning. That's PLAN A

But also keep a PLAN B. Anyone wonder what happen to all those offshore wind turbines PGY and TEG were spruking? They just dissappeared from the conversation and it turned to Carbon Capture and Storage (CCS).

Whether its offshore wind turbines or CCS NOPTA will see thoruhg it as just an attempt not to met the decommissioning.

So what have shareholders now got. Yes a new management trying the decide on the shade of lipstick. A shareprice on the decline and not much hope of near term revival. To it seems that the L7 3D seismic is the only bright light but that information will not comeout until late in 2022.

So keep posting boys and watch the shareprice decline