Triangle Energy (Global) Limited (AU:TEG) has released an update.
Triangle Energy (Global) Limited gears up for the Booth-1 well drilling in late July 2024 and the Becos-1 prospect, while managing a sale revision for the Cliff Head Oil Field, potentially netting $16 million plus operational costs. The company also celebrates the award of a new gas exploration permit in the UK and commences negotiations for a contract in the Philippines. Financially, Triangle holds a strong position with $5.03 million in cash and a 9% stake in State Gas Limited, which recently initiated a CNG supply agreement with Thiess Pty Ltd.
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