Triangle Energy (Global) Limited

ASX: TEG

Triangle Energy is an experienced and successful oil and gas production and exploration company based in Perth, Western Australia 

From 2009 to February 2016, Triangle operated the Production Sharing Contract ("PSC") over the Pase field located in the Aceh Province, North Sumatra, Indonesia. Pase covers an area of 922km2, has multiple proven gas and oil producing fields and is located adjacent to Exxon-Mobil's B Block in which the giant Arun gas field and associated LNG infrastructure are located.  

Triangle purchased the Pase PSC from Exxon-Mobil in February 2009 and achieved operational excellence by developing the project from shut-in/brownfield stage to production within 6 months, generating over $65mm in revenue from that date.

In Ferurary 2016, the Company sold the Pase PSC and is now positioned to further demonstrate its success in exploration, development and operation.

Triangle is Operator and holds a 60% interest in Reid’s Dome a tenement in the Bowen Basin, Queensland.

The Company continues to assess acquisition prospects to diversify and grow its portfolio of assets.

Our Assets

Pase Field

The Pase Production Sharing Contract (PSC) is located in North Sumatra and presently encompasses 922km2. It was acquired from ExxonMobil and the acreage has only been explored once and this was specifically for augmentation of gas supply to the Arun LNG plant.

Reids Dome

The Reid’s Dome Tenement covers an area of 181 square kilometres on the western flank of the Bowen Basin in Queensland. The Reid’s Dome Gas Field is situated within Reid’s Dome Tenement and based on initial reservoir studies, a reserve of up to 1 billion cubic feet of gas is indicated for the three wells drilled on the Reid’s Dome Gas Field prior to November 1994.