An announcement from Triangle Energy (Global) Limited ( (AU:TEG) ) is now available.
Triangle Energy (Global) Limited has commenced drilling the Becos-1 exploration well in the Perth Basin, in collaboration with Strike Energy Ltd and Echelon Resources Ltd. The well targets the Bookara Sandstone horizon with an estimated prospective resource range of 1 to 21 million barrels. The drilling is expected to reach a total depth of 1,164 meters, with a geological chance of success estimated at 20%. This development could potentially enhance Triangle Energy’s resource base and strengthen its position in the energy market.
More about Triangle Energy (Global) Limited
Triangle Energy (Global) Limited operates in the energy sector, focusing on oil exploration and production. The company is involved in joint ventures and holds significant interests in various exploration projects, primarily targeting oil reserves in the Perth Basin.
Technical Sentiment Signal: Buy
Current Market Cap: A$8.36M
For detailed information about TEG stock, go to TipRanks’ Stock Analysis page.