Latest Triangle Energy (Global) (Asx:Teg) News

Triangle Energy has launched legal proceedings against Echelon Energy's subsidiary over a $3.84 million cost dispute tied to a farm-in agreement in the Perth Basin. The move follows failed negotiations after Echelon's withdrawal from drilling obligations.

Triangle Energy has initiated legal proceedings against Strike Energy's subsidiary over a $3.84 million dispute tied to the L7 permit in the Perth Basin, escalating tensions in a key oil and gas project.

Triangle Energy (Global) Limited has amended its quarterly cash flow report to correct key figures while advancing new permits in the Philippines and progressing the transition of its Cliff Head Oil Field to a carbon capture and storage project.

Triangle Energy (Global) Limited has secured three new permits in the Philippines, advancing its gas exploration portfolio while navigating joint venture withdrawals in Australia and finalising the sale of its Cliff Head onshore assets.

Triangle Energy (Global) Limited has been awarded a 100% interest in the SC-82 onshore exploration contract in the Philippines’ Cagayan Basin, unlocking a large prospective gas area near existing infrastructure.

Triangle Energy and its joint venture partners have been awarded two offshore service contracts in the underexplored Sandakan Basin, Philippines, holding significant contingent gas and condensate resources. These contracts mark a strategic expansion into a promising region with multi-TCF exploration upside.

Triangle Energy and Athena Exploration have significantly upgraded gas resource estimates for the UK P2628 permit, positioning themselves among the top undeveloped gas holders in the region.

Triangle Energy’s June quarter report reveals a strategic pivot as key JV partners exit, the Cliff Head assets transition to carbon capture, and promising exploration prospects remain in focus.

Triangle Energy has signed binding agreements to sell its onshore Cliff Head assets to Pilot Energy, marking a strategic shift to focus on oil and gas exploration in the Perth Basin.

Triangle Energy's joint venture partners Echelon Resources and Strike Energy have withdrawn from key Perth Basin permits, prompting the company to seek new collaborators to continue its exploration program.

Triangle Energy reported a $9.85 million cash balance for the March quarter, plugged the Becos-1 well after disappointing results, and agreed to defer the Cliff Head asset sale to Pilot Energy until 2026.

Triangle Energy’s Becos-1 exploration well in the Perth Basin has been plugged and abandoned after failing to find hydrocarbons in economic quantities, yet the company remains optimistic about future prospects and well-funded for upcoming ventures.