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Triangle Energy (Global) Limited ( (AU:TEG) ) has provided an announcement.
Triangle Energy (Global) Ltd, an ASX-listed oil and gas explorer headquartered in Perth, is reshaping its portfolio through the divestment of its Cliff Head Oil Field interest and the planned spin-out and listing of its subsidiary Tetragon Energy. The company retains 50% stakes in key Perth Basin licences and UK gas licences in the Outer Moray Firth, while pursuing further acquisitions to build scale and diversify its asset mix.
Following the spinout of Tetragon Energy, Triangle Energy will promote Chief Operating Officer Rory McGoldrick to Chief Executive Officer and transition current Managing Director Conrad Todd to a Non-Executive Director role, effective 1 May 2026. Todd will concurrently become Managing Director of Tetragon Energy as it targets an ASX listing in June 2026, with the board positioning McGoldrick’s corporate and business development experience as central to unlocking value from Triangle’s remaining assets and future growth initiatives.
More about Triangle Energy (Global) Limited
Triangle Energy (Global) Ltd is an ASX-listed oil and gas explorer based in Perth, Western Australia, focused on upstream assets in the Perth Basin and the UK. The company holds a majority stake in the Cliff Head Oil Field, which is being divested, and 50% interests in the L7 production licence and EP 437 exploration licence in Australia, as well as gas-focused licences P2628 and P2650 in the UK. Triangle continues to review acquisition opportunities to expand its portfolio and reposition its asset base.
Technical Sentiment Signal: Sell
Current Market Cap: A$7.78M
Find detailed analytics on TEG stock on TipRanks’ Stock Analysis page.