Great work TEG, well done on the raising.Highly undervalued down...

Great work TEG, well done on the raising.

Highly undervalued down here, and I think one of the best oil and gas candidates to take advantage of an oil price bounce that is underway.

Independent Research have valued them at $0.14c per share as a base case (June 2020). Report is on TEG's website:

http://triangleenergy.com.au/wp-content/uploads/2020/07/Triangle-Energy-IIR-Research-Note-June-2020.pdf

Why I think TEG will have a good run up:

• Highly leveraged to rising oil prices
• Relatively low production costs (~US$21 per barrel)
• Plenty of exploration upside on their existing projects
• Already have THREE priority drill targets at Cliffs Head which can start immediately now they have funds. (ie, plenty of newsflow, upgrades etc)
• They are working on increasing both PRODUCTION and RESERVES (again, more newsflow and upgrades...)
• TEG own 47,830,148 shares in State Gas (GAS.asx); that holding alone is worth $24m today
• TEG have an extremely low market cap here. At today's price of 3.3c they are capped at only $12.5m. Ie, their GAS holding alone is worth DOUBLE TEG's market cap.

Bit of a no brainer to buy into TEG at these levels in my opinion, and explains the massive demand for the placement. TEG is now fully funded for all the exploration, production upgrades etc they need.