Triangle Energy (Global) Ltd managing director Conrad Todd joins Proactive’s Jonathan Jackson to discuss newly identified oil exploration potential in the Perth Basin. The company received further strong encouragement of the potential of its acreage with the latest 3D seismic data revealing oil exploration prospectivity in addition to the existing gas resources. Interpretation of the Bookara 3D seismic in the Block L7 and EP 437 joint venture properties in the onshore North Perth Basin has revealed 12 new oil prospects in multiple plays near the Mount Horner Oil Field. Best Estimate Prospective Resources of 36 million barrels of oil (MMbbl), with 18 MMbbl net to Triangle, have been calculated for the 11 L7 prospects in the JV with Strike Energy Ltd (ASX:STX) and New Zealand Oil and Gas Ltd (NZOG). Triangle has 50% of the JV. Todd discusses the potential domestic and overseas demand for the company's gas and any possible future oil and what investors can expect from Triangle this year.
Triangle Energy increases oil exploration potential in Perth Basin
