AT A BARGAIN buy 0.15 cents
Triangle Energy (Global) Limited (ASX:TEG) is an experienced, and successful, oil and gas production and exploration company based in Perth, Western Australia.
The Company is the majority (78.75%) owner, and operator of the Cliff Head Oil Field and Arrowsmith Stabilisation Plant located in the Perth Basin, about 270km north of Perth. It is a 30% partner in the newly discovered Xanadu-1 oil field, also in the Perth Basin, and is the largest shareholder of State Gas (ASX:GAS) in Queensland. Triangle Energy has a number of highly prospective exploration programs, and continues to assess joint venture, and acquisition prospects to diversify and grow it’s portfolio.
Triangle holds a majority 78.75% interest in the Cliff Head Oil Field and is the Operator
Cliff Head Oil Field contains the only offshore and operating onshore crude oil facilities in the Perth Basin, including the Arrowsmith Stabilisation Plant and pipeline
Exploration upside at Cliff Head with Enhanced Oil Recovery program, and Mentelle & West High prospects
30% Joint Venture partner in the Xanadu-1 Oil Discovery Well located in the Perth Basin
Largest shareholder (35.47%) in State Gas (ASX:GAS) which holds a 60% interest in PL231 (Reids Dome) in Queensland
Malaysian Oil and Gas Service Provider acquires substantial shareholding in Triangle
Highly experienced Board, management and operating team with onshore and offshore expertise
Ongoing assessment of opportunities to expand asset portfolio through JVs and acquisitions aimed at increasing shareholder value
