Here is a response that all shareholders should consider:The...

Here is a response that all shareholders should consider:

The performance share scheme you will soon vote on has no hurdle linked to share price appreciation. Surely if the management work for the shareholders then that is an important hurdle. Ignore the time based options their hurdle is just time. You should insisit all hurdles have a link to SP. You are the shareholders so it is your call.

You say the new team is on the right track. The truth is that there was no other track to go down. Cliff Head is a problem of negative cashflow and a large overhanging liability. It is a liability they are managing through the CCS facade. The project will never be approved since they have no funds or customers. NOPSEMA is not about giving Triangle an out to simply shut down production and leave a festering asset for years whil;st they pusue some ficticous CCS project. I'm betting that NOPSEMA will want to see real progress, funding and customers before making a change (and not just pretty powerpoint presentations)

Triangle use to be the Perth Basin oil play and that has quickly changed to jump onto the Perth basin gas bandwagon. Look back at the L7 announcement and you'll see the focus is on oil.

The quick change to big gas is another distraction. The geological basis for this quick change is doubtful - there was no new seismic at hand when they made this announcement about big gas and the 3D they just did is not yet ready.

Everyone is hoping they can make something out of the 3D - they might but its long process to review and get partners and funding. Its time Triangle doesn't have and to buy this time will mean more capital raises.

In the meantime you have a company with some exploration acreage in the Perth basin, an offshore asset that loses around $20K per day and a large overhang of abandonment liabilities. And some State Gas shares. If that's a good investement criteria for you then good luck. You are all basically betting your money on the hope that the Perth Basin can generate value for Triangle. Cross your fingers

One final thing - did you notice the quarterly mentioned (quietly) that the CH10 workover "Subsequently" needed a custom made packer. Read this to mean there are problems with the well and they need to spend lots of money before being allowed by NOPSEMA to have it produce again. Itsagas can ask Conrad to explain what is the real problem with CH10 and how is the workover going and what will be the final cost.

There is no interest in Triangle now as you can see form the volume traded. I recommend a buy!!!