An update from Triangle Energy (Global) Limited ( (AU:TEG) ) is now available.
Triangle Energy (Global) Limited has announced ongoing negotiations with Pilot Energy regarding the revised terms for the acquisition of the Cliff Head oil project. The discussions involve potential vendor financing in exchange for a secured note, but no formal agreement has been reached. The outcome of these negotiations could impact Triangle’s operations and market positioning, as the company looks to finalize terms by the end of March 2025. Triangle Energy also reported a cash reserve of $10.89 million and no debt as of December 2024, indicating a stable financial position.
More about Triangle Energy (Global) Limited
Triangle Energy (Global) Ltd is an ASX-listed oil producer and explorer based in Perth, Western Australia. The company holds a 78.75% interest in the Cliff Head Oil Field and shares in other licenses in the Perth Basin and the UK. Triangle Energy continues to explore acquisition opportunities to expand its asset portfolio.
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$10.45M
Find detailed analytics on TEG stock on TipRanks’ Stock Analysis page.