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0.6¢ triangle energy (global) limited

Ann: Quarterly Activities and Cashflow Reports, page-4

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AM27

2,543 Posts.

346

29/07/22

09:34

Post #: 62799224
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Originally posted by maverick13: ↑

The quarterly report just released had an interesting comment on Xanadu:

TP/15 Xanadu-1 JV (60%)
TP/15 hosts the Xanadu oil discovery. The well was drilled from onshore and deviated out to the Xanadu prospect. It
encountered oil in three sandstones, two of which were tight and did not yield oil on test. However, one reservoir showed
oil mobility. The well was subsequently plugged and abandoned.
Triangle Energy (Global) Ltd June 2022 Quarterly Activities Report 8
Triangle as operator of the TP/15 Joint Venture is conducting a detailed review of the Xanadu 3D seismic and the resources
attributable to the Xanadu discovery along with a prospectivity review of the rest of the permit (Figure 5), which it will share
with its partner, 3C Energy, and report in the next quarter.

It will report on this 'in the next quarter'.

Hmmmm...... does this prospect still have some legs? I think anyone that knows TEG completely wrote Xanadu off a couple of years ago but is it a sleepy that may yet still have something the can be commercialised??

AIMHO.

GLTAH.

Expand

I think it does but NWE's action of letting it go tells me it's going to be high risk.

TEG Price at posting: 1.2¢ Sentiment: Hold Disclosure: Held
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