Triangle Energy’s Becos-1 Well Fails to Yield Viable Hydrocarbons

Triangle Energy (Global) Limited ( (AU:TEG) ) just unveiled an announcement.

Triangle Energy (Global) Limited announced that the Becos-1 exploration well in the Perth Basin did not encounter economically viable hydrocarbons and has been plugged and abandoned. Despite this setback, Triangle remains optimistic about the prospectivity of its north Perth Basin permits and is financially positioned to pursue future exploration projects. The joint venture, which includes Echelon Resources and Strike Energy, will evaluate the results to inform future plans.

More about Triangle Energy (Global) Limited

Echelon Resources Limited is an Australasian-focused energy commodity exploration and production company based in Wellington, New Zealand. The company holds a diverse portfolio of onshore and offshore oil and gas assets across Australia, New Zealand, and Indonesia, either directly or through its stake in Cue Energy Resources Limited. Echelon is committed to ethical exploration and development activities, maintaining strong ESG standards, and continuously seeking value-accretive opportunities.

Technical Sentiment Signal: Buy

Current Market Cap: A$10.45M

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