New Zealand Oil & Gas Limited (AU:ECH) has released an update.
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Triangle Energy (Global) Ltd, along with its partners, is nearing completion of the well pad for the Becos-1 exploration well in the Perth Basin, scheduled to start drilling by the end of March 2025. The project targets potential resources ranging from 1 to 21 million barrels, with a 20% chance of success, offering an intriguing opportunity for investors. The well aims to reach primary targets at depths of 700 to 800 meters, with additional potential in the Kingia Formation.
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