Strike Energy Limited ( (AU:STX) ) has issued an announcement.
Triangle Energy (Global) Ltd announced that the Becos-1 exploration well in the Perth Basin did not find hydrocarbons in economically viable quantities and has been plugged and abandoned. Despite this setback, the company remains optimistic about its prospects in the region and is financially positioned to pursue future exploration and new ventures, bolstered by an expected $18 million from the sale of its Cliff Head Assets.
More about Strike Energy Limited
Triangle Energy (Global) Ltd is an ASX-listed oil producer and explorer based in Perth, Western Australia. The company operates the Cliff Head Oil Field with a 78.75% interest and has a 50% share in the Mt Horner L7 production licence and the EP 437 exploration licence in the Perth Basin. Additionally, Triangle holds interests in the UK, including a 50% stake in the P2628 and P2650 licences.
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Technical Sentiment Signal: Buy
Current Market Cap: A$458.7M
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