TEG

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0.4¢ triangle energy (global) limited

Not the best time to pump TEG when we are all just getting over...

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Mitchdon

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31/07/24

10:32

Post #: 74998194
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Originally posted by blueballs: ↑

Apologies if this has already been posted and numbers will have changed slightly due to raise

It is pleasing to see TEG progress on its divestment of the Cliff Head asset, given the consequent removal of the ~$22 million abandonment liability and $7.5 million of contingent payments (as well as $7.5 million of royalty payments in the longer term). We await the second key approval on condition that PGY must demonstrate to the regulator that the company has sufficient finance to cover the Cliff Head abandonment liability and commence the CCUS project. Pilot announced one significant funding partner (Samsung) on 31 Oct' 2023. We anticipate this to be resolved within the next ~6 months.

Hancock's acquisition of Warrego Energy (WGO.ASX) last year put a ~$2/GJ look- through price on 2P Reserves-weighted gas in the Perth Basin. STX, the Perth Basin pure play independent, trades on a ~$1/GJ multiple (EV/2P+2C) based on its discovered gas resource portfolio (2P Reserves and 2C Contingent Resources).

We currently value Triangle's net Booth Best Estimate Prospective Resources (140 Bcf) at $35 million ($0.017/sh) based on a risked valuation through $1/GJ (~$1/Bcf) and a risking of 75% (25% valued, i.e. 25% chance of success).

If drilling is successful and, as an example, the Best Estimate 2U gas resource is discovered, the value net to Triangle could be ~$140 million ($0.067/sh), significantly above the current enterprise value (~$37 million incl. GAS.ASX holding).

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Not the best time to pump TEG when we are all just getting over the suprise CR.

TEG Price at posting: 1.6¢ Sentiment: Hold Disclosure: Held
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Last 0.4¢		Change 0.000(0.00%)		Mkt cap ! $8.320M

Open	High	Low	Value	Volume
0.4¢	0.4¢	0.4¢	$2.4K	600K

Buyers (Bids)

No.	Vol.	Price($)
28	26974731	0.4¢

Sellers (Offers)

Price($)	Vol.	No.
0.5¢	8294957	16

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No.	Vol.	Price($)
28	26974731	0.004
24	26601251	0.003
12	23296994	0.002
7	18977777	0.001
0	0	0.000

Price($)	Vol.	No.
0.005	8294957	16
0.006	7831179	16
0.007	8130909	11
0.008	6735722	9
0.009	3294949	6

Last trade - 10.38am 06/09/2024 (20 minute delay)

TEG (ASX) Chart

Not the best time to pump TEG when we are all just getting over...

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