Triangle Energy valued at 5.4 cents per share
Melbourne, Victoria
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November 07, 2023 02:30 PM Eastern Standard Time
Triangle Energy (Global) Ltd (ASX:TEG) MD Conrad Todd speaks with Proactive following news the company and its 50-50 joint venture partner Athena Exploration Ltd have been offered five blocks in the West of Shetlands gas province which contains the Cragganmore gas field. The acreage is part of the first tranche of awards by the North Sea Transition Authority (NSTA) in the 33rd UK Licensing Round and is adjacent to the Tobermory and Bunnehaven gas fields offered to British energy giant Shell. Todd also discusses a new independent valuation done on TEG by MST Access suggesting the company is worth 5.4 cents per share.
“We are very pleased to be offered these blocks, which give us a significant gas discovery with substantial exploration upside,” Todd said.
“We now have a diversified asset base, all in tier-one locations.
“We look forward to advancing the Cragganmore discovery while preparing to drill our exciting prospects in the Perth Basin next year.
“We also expect further announcements from the NSTA towards the end of this year and into Q1 2024 regarding the other licence areas we have also bid for in the 33rd round.”
Contact Details
Proactive Investors
Jonathan Jackson
+61 413 713 744
