20 February 2012. Triangle Energy (Global) Limited (Triangle Energy) (ASX: TEG) provides
an update regarding the status of the Pase Production Sharing Contract (PSC).
The Pase PSC covers an area of 922km2 in Aceh and was first granted in 1981 and has
been operated by Triangle Energy through its wholly owned subsidiary Triangle Pase Inc
(TPI) since June 2009. Triangle Energy lodged an application to renew the PSC in February
2010.
On Friday 17 February 2012 the Indonesian Upstream Oil & Gas Regulator BPMIGAS
advised TPI to continue to operate the Pase Block for a further 6 months while a decision is
made on the PSC.
TPI is working closely with the Government to finalise a working agreement.
the 6 months is up ...where to now?
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