Triangle Energy (ASX:TEG) has been granted a trading halt by the ASX pending an update on the status of the Pase Production Sharing Contract (PSC), located in Aceh, Indonesia
In February 2015, the company was informed by SKK Migas that it had been awarded the PSC extension with joint venture partner, the Acehnese Government.
In the March quarterly 2015, Triangle said that the PSC extension period is for 20 years and will be extended from 24th February 2012, the date the original PSC expired.
The halt will remain in place until the opening of trade on Wednesday 27th May 2015, or earlier if an announcement is made to the market.
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