Triangle general discussion, page-22

I’d like to debunk a few opinions about delayed results, market disclosure, profitability of projects and direction of the company with some publicly available facts.

Key points from Conrad's update on 18 January 2023 (available on y**tube - sorry that the link can't be posted here):

• All exploration costs covered for L7/EP437 save for $1.5M.

• Seems that the company deliberately avoided large farmout partners - Conrad wants to ensure that the company maintains control over the project.

• Final version of 3D seismic data acquired around mid-January. Technical with the Canadian contractors late February followed by resource prospects for oil and gas being announced to the market.

• The farming out of L7/EP437 allows the company to use its funds to build a broader based portfolio and spread exploration outside of the Perth Basin.

• CH production is profitable.

So, it seems clear that a) it was apparent from 18 January that 3D seismic would be delayed till March (at no fault of TEG), and b) the company is looking to acquire an exploration project outside of the Perth Basin.

AIMO, but I think the company has fully complied with its disclosure requirements.

GLTA, DYOR.