Company
Triangle Energy (Global) Ltd
ASX:TEG
Triangle Energy (Global) Ltd is an experienced oil producer and explorer with operations located in the Perth Basin, approximately 270 kilometres north of Perth, Western Australia. The company is the registered operator and holds a substantial interest (78.75%) in the Cliff Head Oil Field (PL WA-31-L) encompassing the onshore Arrowsmith Stabilisation Plant and offshore Cliff Head Alpha Platform.
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Triangle Energy completes farm-out in north Perth Basin to New Zealand Oil & Gas
The company will hold 50% of Permits L7 and EP 437 with Talon Energy and new partner NZO each holding 25%.
Triangle Energy welcomes progress by partner Pilot Energy on Mid West Clean Energy Project
The Cliff Head Carbon Capture & Storage (CCS) project forms the first stage of the project with a submission for initial regulatory approvals being finalised.
Triangle Energy’s Cliff Head JV completes tanker load for export to Asian refinery
“The truck-to-tanker export route is now established and the CHJV is now focusing on streamlining and reducing operating expenses for this export route," said Triangle Energy MD Conrad Todd.
Triangle Energy raises $6.72 million on monetising State Gas shares
This represents a reduction of approximately half of TEG’s holding in State Gas, still leaving it with a 10.1% holding after dilution by the recent placement.
Triangle Energy “sets the course” for carbon capture storage project with Pilot Energy
Pilot is set to assume a 60% interest in the Cliff Head oil field and the CCS asset, while Triangle will take up the remaining 40%.
Triangle Energy and JV partner welcome delivery of oil to Thai refinery and upcoming ~A$6.8 million payday
“The payment for oil delivery to a refinery in Thailand is the final confirmation of the viability of the truck-to-tanker export route," MD Conrad Todd said.
Triangle Energy secures remaining interest in onshore Perth Basin permits from Key Petroleum
“In addition to purchasing the interests in the permits, Triangle has bought back the 5% production royalty from Key, which makes the permits more valuable," said MD Conrad Todd.
Triangle Energy’s Cliff Head joint venture exports second oil load-out through Port of Geraldton
The AB Paloma chartered tanker, laden with roughly 51,000 barrels of oil on board, has departed for the Thailand refinery.
Triangle Energy's Cliff Head JV project loads first oil on tanker bound for Singapore along new export route
The new export route utilising the Port of Geraldton will enable the continuation of oil production in the Perth Basin for both the Cliff Head Oil Field and other Perth Basin producers.
Triangle Energy and partner begin workover at Cliff Head 10 well
This work is expected to increase production at the Cliff Head Joint Venture by 130 barrels of oil per day and lift field production to above 800 barrels of oil per day.
Triangle Energy and partner bring in A$21 million from Cliff Head JV oil sales in May
The sale marked the final lifting of oil from the joint venture’s Kwinana terminal to BP Singapore, and it netted US$15.36 million (A$21.34 million) with Triangle's share amounting to A$16.8 million.
Triangle Energy completes 3D seismic survey over Perth Basin permit L7
“This is a major step towards realising the potential in this highly prospective block,” says MD Conrad Todd.
Triangle Energy snaps up A$3.5 million via oversubscribed placement for production upgrades
Triangle will use the funds for a production well workover, a new oil export route and to execute a 3D seismic acquisition.
Triangle Energy and Pilot Energy ink new binding term sheet for joint Carbon Capture and Storage Project
“Our co-operative joint venture will both reduce Triangle’s abandonment liability and defer it for at least 10 years after oil production. We are especially pleased that the CHJV will at the same time be making a significant contribution to
Triangle Energy makes headway on Arrowsmith oil tank upgrade and Perth Basin export route
In early May, the plan is for the CHJV to sell the estimated 140,000 barrels of oil stored at Kwinana to BP, taking advantage of current high oil prices.
Triangle Energy bolsters prospective gas resource at Perth Basin’s L7 permit
“Net resources will double when we complete the acquisition of the remaining 50% interest from Key,” says MD.
Triangle Energy’s JV partner nears completion of Mid West Blue Hydrogen and Carbon Capture and Storage study for Cliff Head Oil field
Pilot Energy has produced interim results from ongoing feasibility studies centred on future hydrogen production and carbon capture storage at the Cliff Head Oil Field, which Triangle Energy owns a majority interest in and operates.
Triangle Energy and Key Petroleum extend cut-off for sale of 50% in production licence
The company recently confirmed the technical prospectivity of Production Licence L7(R1) onshore Perth Basin and said, “we view as having potential for very attractive oil and gas prospects”.
Triangle Energy overhauls board, brings on new expertise
“The board envisions a smooth transition and looks forward to generating further value for shareholders from the company’s attractive portfolio of assets," says non-executive chair Greg Hancock.
Triangle Energy trains its focus on progressing interim offtake arrangements for Cliff Head joint venture
Triangle is highly leveraged to the recent upward revaluation in crude oil prices and is benefiting from the soft Australian dollar.
Triangle Energy marks December quarter with steady oil production
During the December quarter, the Cliff Head Joint Venture (CHJV) continued to produce and deliver crude oil to BP Kwinana and by quarter’s end had delivered 58,839 barrels of crude oil.
Triangle Energy continues to work with Pilot Energy on purchase of WA-481-P offshore exploration permit
While regulatory approval for the proposed transaction remains pending Pilot will progress the work program for the exploration permit independently of Triangle.
Triangle Energy begins FEED study for proposed 5,000 barrel/day Renewable Fuel Refinery
“The Triangle Energy team is very pleased to announce our investigation into the potential to establish a modern, modular renewable fuel refinery by leveraging our existing infrastructure in the Perth Basin," says CEO.
Triangle Energy’s Cliff Head Joint Venture estimates A$10.8 million saving in decommissioning cost
Triangle’s 2C contingent resources at Cliff Head Oil Field, offshore Perth Basin in Western Australia, as of June 30, 2021, are estimated at 3.47 million stock tank barrels.
Triangle Energy reinstates Cliff Head reserves and contingent resources
The oil producer and explorer has officially restated its reserves after they were withdrawn late last year, with its net 78.75% share of Cliff Head’s 2P reserves estimated at 810,000 stock tank barrels.
Triangle Energy completes lifting of 107,000 barrels of crude from BP Kwinana Terminal
Triangle Energy’s managing director Robert Towner said the accumulation of five months’ inventory meant the company has benefited from the increase in oil price by around US$1 million compared to monthly lifting.
Triangle Energy secures key crude oil offtake agreement with BP Singapore, shares up
“The Cliff Head Oil Field, together with its significant infrastructure, is now capable of continuing to take oil to the market, as well as providing the base upon which further exploration and development success in the permit areas may be
Triangle Energy bolsters corporate skillset with appointment of non-executive director
Deanna Carpenter has more than 10 years of experience as a lawyer with a focus on equity capital markets and mergers & acquisitions, as well as extensive experience in governance, risk management and corporate compliance.
Triangle Energy further extends Key Petroleum agreement cut-off to January 31, 2022
Both companies are continuing to complete regulatory requirements and, therefore, have agreed to further extend the proposed cut-off date for the agreement to January 31, 2022.
Triangle Energy brings CH-6 well back online as workover program comes to an end
By bringing CH-6 back into production, the ASX-listed operator expects to produce 120 more barrels of oil per day, bringing Cliff Head’s total field production to roughly 850 barrels of oil per day.
Triangle Energy completes L7 review and confirms Maiden Prospective Resource estimate
Triangle has been reviewing the Prospects and Leads portfolio within L7, leading to a prospective resource estimate for 18 oil opportunities and four gas leads.
Triangle Energy and Key Petroleum extend sale and purchase agreement cut-off date to September 30
The company's Cliff Head Oil Field joint venture crude sales revenue at the end of the June quarter stood at US$1.54 million at a realised oil price of US$59.75 per barrel (net).
Triangle Energy directors demonstrate confidence in oil & gas strategy through placement participation
The company is well-funded to advance its oil & gas properties after raising more than $10 million in a placement and subsequent entitlement offer.
Triangle Energy moves into September quarter with BP offtake deal and $10 million capital raising
Its Cliff Head Oil Field joint venture crude sales revenue stood at US$1.54 million at a realised oil price of US$59.75 per barrel (net).
Triangle Energy raises more than $150,000 through entitlement offer
The entitlement offer gave holders the chance to subscribe for options at $0.001 each and on the basis of one new quoted option for every two shares held on the record date.
Triangle Energy about to begin CH-6 Workover activities at Cliff Head operations in Perth Basin
The company has completed studies that indicate reconfiguration of the injection zone of CH-11WI can contribute to increased oil recovery and further enhance daily oil production.
Triangle Energy launches pro-rata non-renounceable entitlement offer to eligible shareholders
On June 17, the company received commitments for $10 million in a placement to new and existing sophisticated, institutional and professional investors looking for exposure to the oil & gas sector.
Triangle Energy receives firm commitments for $10 million capital raising
The company has received strong support from a mix of new and existing shareholders, looking for exposure to the oil and gas sector.
Triangle Energy and Pilot formalise WA-481-P and Cliff Head Wind and Solar joint ventures
The transaction creates alignment across the oil and gas exploration project (WA-481-P), the adjacent oil production project (Cliff Head Oil project) and the renewables joint venture.
Triangle Energy shares jump on new BP crude oil storage agreement
The company has reached an agreement with the global energy giant to store crude oil from Cliff Head Oil Field in the Perth Basin at BP’s Kwinana facility.
Triangle Energy’s Cliff Head Alpha platform and Arrowsmith Stabilisation Plant unscathed
The Perth Basin facilities remain in excellent condition after the passing of severe weather event Tropical Cyclone Seroja in the region.
Triangle Energy domestic crude oil supply agreement with BP extended to April 22
The Cliff Head Oil Field will continue to produce and deliver its product to the BP refinery in Kwinana until the extended termination date for the agreement.
Triangle Energy gears up to explore expanded footprint in Perth Basin
In the near-term, the company plans to explore the Cliff Head region, Mount Horner and newly acquired exploration permits.
Triangle Energy jumps on confirming Cliff Head resources and progressing farm-out campaign and well planning for satellite drilling
The company is targeting drilling of the West High, Mentelle Updip and SE Nose wells at the Cliff Head oil field in Western Australia.
Triangle Energy set for next wave of production and asset life growth in Perth Basin
The company has been developing known near field prospects and leads within the Cliff Head Oil Field to enhance production.
Whitebark Energy realising potential of 20+ well Wizard Lake Project
The first two wells drilled at Wizard Lake, Rex-1 and Rex-2, have resulted in proven producing assets.
Whitebark Energy begins flowback testing Wizard Lake Rex well, increases stake to 30%
The well will undergo an extended flowback and testing program which will provide valuable information on the potential of the well.
Whitebark Energy names Albertan oil prospects as it focuses on Canadian portfolio
The company recently collected $2 million cash from a WA oil asset sale.
Whitebark Energy sells Xanadu oil discovery for $5 million, retains first oil bonus
The funds will be used to advance Whitebark’s exploration and strategic acquisition opportunities in Canada.
RIU GoodOilConference Perth to open with financing perspective from Westpac’s Mark Beeley
The conference continues today, with highlights including a presentation from Santos on how becoming the lowest cost operator delivered growth to the company.
Whitebark Energy confirms oil discovery in Western Australia waters
Reservoir quality sand intervals were encountered throughout the section.
Triangle Energy confirms oil and gas at Xanadu; share prices rise
The JV partners in TP/15 include Norwest Energy NL.
Norwest Energy tops the ASX Most Active following drilling details
Norwest is not only the most active, but also among the best % gainers.
Triangle Energy tweaks investor interest pending update from Bowen Basin
The halt will remain in place until Wednesday 6th September 2017.
Renascor Resources, Santana Minerals, Sayona Mining, Triangle Energy - Noosa latest
This brings us to the close of the first of three days at the Noosa Mining and Exploration Conference.
Triangle Energy in an ASX trading halt
Triangle Energy (ASX:TEG) has been granted a trading halt by the ASX, with its shares placed in pre-open.