New Zealand Oil & Gas Limited (AU:ECH) has released an update.
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Triangle Energy (Global) Ltd, along with its partners, is nearing completion of the well pad for the Becos-1 exploration well in the Perth Basin, scheduled to start drilling by the end of March 2025. The project targets potential resources ranging from 1 to 21 million barrels, with a 20% chance of success, offering an intriguing opportunity for investors. The well aims to reach primary targets at depths of 700 to 800 meters, with additional potential in the Kingia Formation.
For further insights into AU:ECH stock, check out TipRanks’ Stock Analysis page.
