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Triangle Energy (Global) Limited ( (AU:TEG) ) has issued an update.
Triangle Energy (Global) Limited has recently faced challenges with its L7 and EP 437 exploration activities in the Perth Basin, as partners Strike Energy Limited and Echelon Resources Limited have withdrawn from the joint ventures. The company is assessing its position following the abandonment of the Becos-1 well due to low permeability gas shows. Meanwhile, Triangle has sold its Cliff Head Oil Field assets to Pilot Energy Ltd, which plans to transition the facilities to a Carbon Capture and Storage project. Additionally, Triangle is advancing its applications for energy permits in the Philippines and continues to explore opportunities in other regions.
More about Triangle Energy (Global) Limited
Triangle Energy (Global) Limited operates in the energy sector, focusing on exploration and production activities. The company holds interests in various oil and gas permits and is actively pursuing new ventures in Australia, Europe, and Asia, with a particular focus on both onshore and offshore opportunities.
Technical Sentiment Signal: Sell
Current Market Cap: A$6.27M
For detailed information about TEG stock, go to TipRanks’ Stock Analysis page.