Ann: Company Update, page-9

Exactly Mav.
Lot to take in from this update.
"The final lift from the Kwinana facilities into the export tanker is due to occur early May 2022 which in the
current oil price environment the Company expect to generate approximately US$14 million dollars (using
US$100 oil) in revenue for the CHJV (US$11 million net to Triangle) which will be paid early June 2022"

In my opinion the US$100 is conservative and I would expect a lift of around US$120 minimum given the current war, lack of Russian Oil to market future increase in global oil use due to world economies coming out of global recession.
So any increase from the $100pb will be large to TEG bottom line.
I would expect we will see around A$18mil early June given current oil environment.
So looks like the lift date has been backed out a bit but all good as we are just continuing to fill.
Cliff Head Upside
"Technical work to increase oil production during this period of high oil prices
workover of the CH-10 well"
What we do have now at TEG is better technical expertise, no doubt.
Fresh eyes on the scene now will be of great benefit to all SH when it comes to increase of production and right now is when we need it.
So we are back to approx.700bopd shortly and would expect to hear of an increase once CH-10 issues are fixed. Very Good.

The news most of us have been waiting for where the hell is the oil going after the BP deal ends
"finalization of discussions with the relevant authorities, we fully expect one of these export options to be in place in time so as not to interrupt oil production"
As expected POG here we come which is great news.
I am expecting a cost reduction to TEG due to this but will see when we get more details.
This is excellent and comforting news for all SH and the Market in general as, NO INTERRUPTION TO OIL PRODUCTION

2 things that really caught my attention were the following-
L7(R1) Permit
Management has re-examined the above permit and confirms its technical prospectivity.
"which we view as having potential for very attractive oil and gas prospects"
This confirms what I was informed previously from 2 retired technical people that had worked Horner L7 before.
"We are working to acquire 3D seismic over the L7 and EP 437 permits (EP 437 KEY 86.94%, sale to TEG in
progress) in the first half of this year"
This could be a real winner for TEG this permit given the gas success in permits next to us.
New Ventures
"Triangle also advises shareholders that it is actively seeking to broaden the portfolio and is stepping up
our New Ventures evaluations"
Okay so have cash in the Bank, great cash flow now and will grow the business is what we are being told here.
Given the credentials of the new Board no doubt with plenty of industry contacts they are seeking some new opportunities for TEG portfolio.
They seem to have highlighted this in the update and could have said nothing so could be some interesting developments in near future.

No mention of refinery. This concerns me.
I have many questions and will hopefully talk to Conrad next week.
Hopefully now that the new Board has settled in we will get some news flow happening.
Above AIMHO.
GO TEG
GO GAS
GO OIL