Triangle Energy (Global) Limited (AU:TEG) has released an update.
Triangle Energy (Global) Limited has successfully raised $4 million through a placement of shares and options to fund exploration and drilling activities in the Perth Basin, particularly for the Booth-1 well set to spud this week. This capital boost, supported by both new and existing investors, is aimed at tapping potential oil and gas targets within the region, with a Best Estimate of 279 billion cubic feet of gas. The company is preparing for a transformative drilling campaign as they also progress with the divestment of the Cliff Head oil field.
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