Ann: TEG: Acquisition of 78.75% of WA-481-P and formation of JV, page-2

Triangle Energy Expands Footprint Significantly in 8,605km2
Exploration Permit in Offshore Perth Basin and agrees to enter
Wind & Solar Project Joint Venture
Highlights
 Triangle to acquire a 78.75% interest in and operatorship of offshore Perth Basin
exploration permit WA-481-P from Pilot Energy
 Acquisition aligns WA-481-P exploration permit ownership with the producing Cliff
Head Oil Field
 Cliff Head Oil Field is owned and operated by Triangle (78.75%). Royal Energy
(21.25%) is to be acquired by Pilot, subject to Pilot shareholder approval
 Triangle to pay Pilot $300,000 (on completion) and carry Pilot through completion of
the WA-481-P Permit 3 Year work program
 Triangle and Pilot agree to form the Cliff Head Wind & Solar Project Joint Venture with
Pilot 80% owner and operator and Triangle 20%
 Pilot to carry Triangle on cost of Cliff Head Wind & Solar Project feasibility study
 Joint Venture to assess feasibility of development of large-scale wind and solar
project centered around the Cliff Head Oil Field infrastructure
 Triangle confirmed as the dominant operator in the offshore Perth Basin for Oil and
Gas.