Triangle Energy (Global) Limited (AU:TEG) has released an update.
Triangle Energy (Global) Limited has finalized the sale of its 78.75% interest in the Cliff Head Project to Pilot Energy, with a deal totaling up to $16 million in payments and royalties. The Cliff Head oil field will transition to a Non-Production-Phase in August 2024 as it prepares to become a carbon storage site. Concurrently, Triangle is advancing its oil and gas exploration by drilling the Booth-1 and Becos-1 wells in the Perth Basin.
For further insights into AU:TEG stock, check out TipRanks’ Stock Analysis page.
