Past year: ▼ 67%(0.10c – 0.30c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
29 Sept 2025other● Neutral
Corporate governance statement for the year to 30 June 2025. Administrative disclosure with no new operating or financial news. It reports gender diversity targets missed: 17% of staff female, no women among senior executives or on the board.
29 Aug 2025asset acquisition disposition▲ Good
Triangle received the A$167,000 interest payment from Pilot due under the June sale terms. The note (A$5.563M, 10% interest) still matures 30 September 2026. Pilot has met this first scheduled payment.
19 Aug 2025other● Neutral
Pilot received a A$3.89M petroleum resource rent tax refund through the Cliff Head operating company. Under the sale agreement, such refunds go 100% to Pilot, so none goes to Triangle. Up to A$600k more is expected, also payable to Pilot.
18 Aug 2025resource reserve update▲ GoodMajor
Operator Athena's review of UK permit P2628 (Triangle 50%) lifts Cragganmore gas contingent resources to 683 Bcf mid case (499–929 Bcf), 342 Bcf net to Triangle. Seven further prospects add 1,490 Bcf mid case prospective resources gross. Resource upgrade, not a drilling result.
29 July 2025quarterly activities report● Neutral
June quarter: cash A$7.62M, down from A$9.85M in March, and market cap A$4.18M. Strike and Echelon have withdrawn from the Perth Basin permits and Triangle is reviewing its position. Oil prospect range updated after Becos to 17–71 MMbbl (best 35). Cliff Head sale documents signed.
24 June 2025asset acquisition disposition▲ GoodMajor
Binding documents signed for the Cliff Head onshore sale to Pilot, which has relisted and raised over A$5M. Pilot issued a A$5.563M secured note due 30 September 2026 at 10% interest (about A$6.6M total), plus A$167k in August. Further A$4.5M on injection licence and up to A$7.5M royalties.
24 June 2025asset acquisition disposition● Neutral
Pilot's own announcement that it has completed the first stage of buying Cliff Head from Triangle, now owning all onshore assets. It will next seek NOPTA approval to transfer the offshore assets. Repeats Triangle's same-day announcement.
20 June 2025joint venture update▼ BadMajor
Strike and Echelon, each holding 25%, are withdrawing from the L7 and EP 437 permits and will not fund the third well their 2023 farm-outs required. Triangle, 50% and operator, will seek new partners and is considering its position under the farmout and operating agreements.
4 June 2025security holder rights change● Neutral
Notice that 642M quoted options (exercise price A$0.025) expire 30 June 2025, with quotation ceasing 24 June. The share price was A$0.003 on 2 June, well below the exercise price. No underwriting is in place. Inference: exercise looks unlikely at that price.
1 May 2025other● Neutral
Pilot's operations update on Cliff Head: NOPSEMA has closed three of five directions on securing wells, facilities and pipelines, and inspections found the assets sound. Pilot is working to repurpose the field for carbon storage. No new Triangle terms or payments.
29 Apr 2025quarterly activities report● Neutral
March quarter: cash A$9.85M, down from A$10.89M in December. Becos-1 was dry after quarter end. Triangle now favours the MH-28 oil prospect for the third Perth Basin well. Cliff Head deferral terms repeat the 28 March term sheet. Philippines permits remain with the President's office.
22 Apr 2025drilling result▼ Bad
Partner Echelon's release confirms Becos-1 reached 1,107m and is dry, being plugged and abandoned. It says the well was drilled under time and budget. The joint venture will assess how Becos and Booth affect the permits' prospects. Repeats Triangle's same-day result.
22 Apr 2025drilling result▼ BadMajor
Becos-1 is a dry hole, plugged and abandoned at 1,107m, after finding only a 2m low-porosity gas sand and weak gas shows in the Bookara. Second failed Perth Basin well after Booth-1. Triangle cites cash and up to A$18M from the Cliff Head sale.
14 Apr 2025drilling spud● NeutralMajor
Becos-1 began drilling on 12 April 2025, with Triangle operator at 50%. Target is 1–21 MMbbl (5 MMbbl best) at 20% chance of success, planned depth 1,164m, with logging expected around 20 April. This is the second well of the Perth Basin campaign after dry Booth-1.
7 Apr 2025investor presentation● Neutral
April broker presentation repeats the Becos-1 plan, with spud around 12 April and a third well now in calendar 2026. Cites cash of A$10.9M, market cap of A$8.4M, and about A$6.4M due from Pilot by September 2026. Text is truncated.
31 Mar 2025drilling scheduled● Neutral
Rig 24 is due on location in the first week of April, with Becos-1 spud the following week. Target is 1–21 MMbbl (5 MMbbl best, 2.5 MMbbl net) at 20% chance of success, planned depth 1,140m. Slips from the end-March plan by about two weeks.
28 Mar 2025asset acquisition disposition● Neutral
Pilot's own announcement of the same revised Cliff Head terms: a A$5.563M secured note maturing 30 September 2026, with the A$4M injection licence payment and 2% royalty (capped at A$7.5M) unchanged. Repeats Triangle's announcement; stage 1 needs Pilot to raise at least A$5M.
28 Mar 2025asset acquisition disposition● NeutralMajor
Triangle agrees a binding term sheet deferring Cliff Head payment to 30 September 2026. Pilot issues a A$5.563M secured note at 10% interest (about A$6.6M total) plus A$167,000 on 31 August 2025, and keeps paying operating costs. Subject to formal agreement and Pilot raising at least A$5M. Replaces the missed instalments.
17 Mar 2025debt default or forbearance▼ Bad
Pilot missed the third payment of A$985,171, taking the total overdue debt to A$2,846,122. Triangle reserves its rights but says discussions with Pilot on an agreed way forward are encouraging. Third consecutive missed Pilot payment.
12 Mar 2025half year report● Neutral
Half-year report to 31 December 2024. Pilot has missed its December and February instalments, now a debt owed to Triangle. Becos-1 is ready, waiting on a rig expected early April. Philippines service contracts are in final review. Rory McGoldrick joined as COO on 1 February 2025. Text is truncated.
5 Mar 2025asset acquisition disposition● Neutral
Triangle says Pilot released confidential terms without consent. They broadly reflect a Triangle proposal of vendor financing for a secured note of about A$5–5.3M, due by 30 June 2026, at 10% interest. Triangle says nothing is agreed and talks continue.
17 Feb 2025asset acquisition disposition▼ BadMajor
Pilot missed the second payment of A$832,912 plus interest, and is in voluntary suspension to 5 March while negotiating a capital raising. Pilot has funded about A$1.5M since 1 January and A$5.7M since August 2024 of Cliff Head costs. Triangle has A$10.89M cash and no debt.
30 Jan 2025quarterly activities report● Neutral
December quarter: cash A$10.89M and no debt, including the A$2.4M from Pilot in October. Becos-1 pad built, permits in hand, spud expected late Q1 2025. Cliff Head is suspended, with Pilot paying its operating costs. Philippines permits sit with the President's office. Text is truncated.
18 Dec 2024asset acquisition disposition▼ BadMajor
Pilot failed to pay the first A$0.9M due under the 2 December term sheet, which Triangle now treats as a debt due immediately. Triangle reserves its rights. The A$4.85M instalments from February 2025, A$4M and royalties still follow on paper. Second missed Pilot deadline.
16 Dec 2024drilling progress report● Neutral
The Becos-1 well pad will be finished by end December, with Silver City Rig 24 due on site end March 2025 after other workovers. Target remains 1–21 MMbbl (5 MMbbl best) at 20% chance of success. No new result; repeats known plans.
3 Dec 2024asset acquisition disposition▼ BadMajor
Pilot missed the 29 November payment, so Triangle and Pilot sign a new binding term sheet. A$0.9M is due 17 December 2024, then A$4.85M in five monthly payments from 15 February to 15 June 2025. The missed payment rose to A$5.75M; A$4M and royalties still follow.
14 Nov 2024investor presentation● Neutral
AGM presentation repeats the plan: Becos-1 around end March 2025 at a net cost of A$2.2M, then a third well in 2025. Cites about A$10M cash and a market cap of A$14M, and quotes the Cliff Head deal as up to A$18M. Text is truncated.
5 Nov 2024contract award▲ GoodMajor
Triangle signs Silver City Rig 24 for Becos-1, but the rig does workovers first, so the well slips to end March 2025. Target is 1–21 MMbbl (5 MMbbl best) at 20% chance of success; the well is expected to take about 12 days. Triangle says it is fully funded.
31 Oct 2024quarterly activities report● Neutral
September quarter: cash A$9.75M, with A$2.4M more received on 18 October. Booth-1 net cost was under A$1M. The final Cliff Head cargo sold at US$80.70 a barrel, and all State Gas shares were sold. Becos-1 spud now expected Q1 2025. Shares on issue 2,080M.
21 Oct 2024asset acquisition disposition▲ Good
Triangle received the first A$2.4M from Pilot for Cliff Head, with A$4.1M due 29 November. Management says this fully funds its share of Becos-1, and that a rig has been secured for a potential spud within three months.
