Triangle Energy Expands Philippine Gas Portfolio and Advances Asset Transition Strategy

An update from Triangle Energy (Global) Limited ( (AU:TEG) ) is now available.

Triangle Energy (Global) Limited has expanded its exploration footprint in Southeast Asia with the award of three petroleum permits in the Philippines, including two offshore Sulu Sea service contracts (SC-80 and SC-81) where it holds a 37.5% operated interest and that contain existing gas discoveries, and one 100%-owned onshore Luzon permit (SC-82) hosting a discovered gas accumulation. The company is also pursuing legal action against Strike and Echelon over alleged non-performance of farm-in agreements on Western Australia’s L7 permit, progressing the sale of its Cliff Head oil field facilities to Pilot Energy as that asset transitions to a carbon capture and storage project, and benefiting from upgraded contingent resources at the Cragganmore gas field in its UK licenses, all while continuing to seek new ventures in Australia, Europe and Asia, with a modest market capitalisation and cash balance supporting ongoing activity.

The most recent analyst rating on (AU:TEG) stock is a Sell with a A$0.01 price target. To see the full list of analyst forecasts on Triangle Energy (Global) Limited stock, see the AU:TEG Stock Forecast page.

More about Triangle Energy (Global) Limited

Triangle Energy (Global) Limited is an Australian oil and gas company focused on exploration and production, with assets and growth initiatives across Australia, Europe and Asia. Its portfolio includes offshore and onshore petroleum permits, legacy oil production infrastructure transitioning to carbon capture and storage, and non-operated interests in UK gas licenses, positioning the company within both traditional hydrocarbons and emerging energy-transition opportunities.

Technical Sentiment Signal: Sell

Current Market Cap: A$6.6M

Find detailed analytics on TEG stock on TipRanks’ Stock Analysis page.