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New Zealand Oil & Gas Limited ( (AU:ECH) ) has shared an update.
Triangle Energy (Global) Ltd announced that Echelon Resources and Strike Energy have withdrawn from the L7 and EP 437 permits in the Perth Basin, opting not to participate in the drilling of a third well. Despite this setback, Triangle remains committed to exploring these permits and is actively seeking new joint venture partners to continue the exploration program. The company views the prospects in these areas as highly attractive and is determined to pursue its exploration goals.
More about New Zealand Oil & Gas Limited
Triangle Energy (Global) Ltd is an ASX-listed oil and gas explorer based in Perth, Western Australia. The company holds a 78.75% interest in the Cliff Head Oil Field and shares in the L7 production licence and EP 437 exploration licence in the Perth Basin. Additionally, Triangle has interests in the UK, including the P2628 and P2650 licences.
Average Trading Volume: 11,975
Technical Sentiment Signal: Buy
Current Market Cap: A$80.62M
For a thorough assessment of ECH stock, go to TipRanks’ Stock Analysis page.