Past year: ▼ 67%(0.10c – 0.30c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
14 Oct 2024asset acquisition disposition● NeutralMajor
Cliff Head sale timing changes again: A$6.5M cash due in stages from 18 October to 29 November 2024 (A$0.4M, A$2M cost reimbursement, A$4.1M plus interest), then A$4M on injection licence and up to A$7.5M royalties. Pilot pays Cliff Head running costs from 15 October.
14 Oct 2024asset acquisition disposition● Neutral
Pilot confirms the revised Cliff Head terms: first-stage completion extended to 29 November 2024, with A$0.4M down payment and A$2M reimbursement on 18 October. Pilot gains control of the operator's board once paid. Repeats Triangle's own announcement.
30 Sept 2024regulatory community update▲ GoodMajor
The environmental plan for Becos-1 is approved, clearing the way to drill once a rig is secured; a rig decision is expected within weeks. Target is oil, with 1–21 MMbbl gross prospective resources (5 MMbbl best) and 25% chance of success. Resolves the permit thread.
25 Sept 2024annual report● Neutral
Annual report for year to 30 June 2024. The chairman says Booth-1's dry result is one of three wells, with Becos-1 now late Q4 2024 or early 2025. Cliff Head production has stopped, and the sale to Pilot is worth A$8.5M cash plus A$7.5M royalties. Text is truncated.
25 Sept 2024other● Neutral
Annual corporate governance statement and Appendix 4G for the year to 30 June 2024. Reports no women among senior executives or on the board. Administrative disclosure with no new operating or financial news.
19 Sept 2024security holder rights change● Neutral
All three resolutions passed at the 19 September general meeting: ratifying prior advisory options, and approving the free placement options and lead manager options linked to the July A$4M placement. Closes the open approval thread.
18 Sept 2024investor presentation● Neutral
Good Oil Conference presentation calls the dry Booth-1 well disappointing but low cost to Triangle. Repeats plans for Becos-1 (5 MMbbl mid-case) in Q4 2024 and a third well in 2025, and the Cliff Head sale to Pilot. Text is truncated.
6 Sept 2024director officer appointment● Neutral
Geraldine Holland of Nexia Perth is appointed Joint Company Secretary alongside Henko Vos, effective 6 September 2024. An administrative change with no effect on operations.
9 Aug 2024investor presentation● Neutral
August presentation after the dry Booth-1 well: Becos-1 (5 MMbbl mid-case) is planned for Q4 2024 and a third well in 2025, both subject to approval and a rig. Cites about A$6M cash and says Booth-1 was drilled in 7 days versus 14 planned. Text is truncated.
7 Aug 2024drilling result▼ BadMajor
Booth-1 reached 2,812m and found no moveable hydrocarbons in any target, a dry hole, ending the 279 Bcf best-estimate prospect. It was drilled ahead of schedule and below budget. Triangle now turns to Becos-1 and reassesses the third-well options in L7.
7 Aug 2024drilling result▼ Bad
Partner Strike Energy repeats Triangle's result: Booth-1 reached 2,812m with no moveable hydrocarbons and will be plugged and abandoned. No new information.
7 Aug 2024drilling result▼ Bad
Partner Echelon Resources (formerly NZO) notes the dry Booth-1 well, saying all key reservoirs were drilled with no moveable hydrocarbons. It plans to pursue the separate Becos prospect with the joint venture. No new information on Triangle.
31 July 2024drilling spud● NeutralMajor
Booth-1 has spudded in L7, the first well drilled in Triangle's permits in 30 years. Target is gas with 279 Bcf best-estimate gross potential, to 2,900m measured depth in about three weeks. This starts the drilling campaign flagged in the capital raisings.
31 July 2024drilling spud● Neutral
Partner Strike Energy announces the Booth-1 spud in L7, repeating Triangle's announcement. Triangle holds 50% and is operator; Strike 25%; Echelon (formerly NZO) 25%. No new information.
30 July 2024capital raising announcement● NeutralMajor
Triangle raised A$4M through a placement of about 266.7M shares at 1.5c, an 11.8% discount to the last close, with one free option (2.5c, expiring June 2025) per share, subject to approval in mid-September. Funds go to Perth Basin drilling and working capital.
What it means for a shareholder
267m new shares at A$0.015 to raise about A$4.0m. That's 13% dilution: every existing holder's slice gets 13% smaller. If you held A$1,000 of shares (66,667 at the issue price), your slice goes from 0.00369% to 0.00321% of the company. To keep it you'd need 9,829 more shares - about A$147 at the issue price.
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30 July 2024quarterly activities report● Neutral
June quarter: cash A$5.03M, with the A$6.54M seventh Cliff Head cargo received in April. Booth-1 due to spud by 31 July; Becos-1 still awaits its environmental permit and is now expected October–November 2024. Cliff Head sale revised on 23 July.
23 July 2024asset acquisition disposition● Neutral
Pilot's own announcement confirms the amended Cliff Head deal, with assets transferring in two stages: Arrowsmith land and facilities first for A$4.5M, the offshore interests later for A$4.0M once NOPTA approves. Repeats Triangle's 23 July terms.
23 July 2024asset acquisition disposition▲ GoodMajor
Revised Cliff Head sale to Pilot lifts total consideration to up to A$16M: A$4.5M for Arrowsmith land and facilities (mid-Oct to 31 Dec 2024), A$4.0M on injection licence, up to A$7.5M royalties. Production stops (non-production phase) from August 2024; Pilot reimburses costs from 1 August.
22 July 2024drilling scheduled● Neutral
Triangle took possession of the Ventia 106 rig for Booth-1 and expected to spud around 31 July 2024, slightly later than the mid-to-late July window given earlier. The best-estimate gas potential was 279 Bcf gross, and discussions continued to secure a rig for Becos.
22 July 2024joint venture update● Neutral
Partner NZO (now to become Echelon) re-releases the rig mobilisation news for Booth-1, saying drilling should start the week of 23 July and take up to three weeks. No new information on Triangle's position.
28 June 2024asset acquisition disposition● Neutral
Triangle and Pilot are discussing extending the 30 June 2024 sunset date on the Cliff Head sale so the deed can be changed to meet NOPTA's approval process. Consideration stays up to A$15M; Booth-1 is expected to spud late July.
14 June 2024asset acquisition disposition▲ GoodMajor
The federal minister approved the Cliff Head carbon storage declaration, satisfying a key condition of the sale of Triangle's 78.75% to Pilot. Triangle is to receive A$3M cash, A$4.5M on the injection licence and up to A$7.5M royalties. Transfer still needs regulator approval.
12 June 2024joint venture update● Neutral
NZO re-releases Triangle's 12 June Booth-1 timing update: rig release in early July, drilling mid to late July 2024. No new information.
12 June 2024drilling scheduled● Neutral
Booth-1 start has slipped to mid–late July 2024 as the Ventia 106 rig is released from its current operator in early July. All approvals are received. The well is expected to take 22 days to reach 2,900m; a rig for Becos is still being negotiated.
30 Apr 2024quarterly activities report● Neutral
March quarter: cash A$3.33M. The seventh Cliff Head cargo brought in about A$8.3M gross (A$6.54M net to Triangle). Booth-1 has its environmental permit and long lead items; Becos awaits its permit. The Pilot sale still awaits NOPTA approval; CH-13 is not producing.
18 Apr 2024joint venture update● Neutral
NZO re-releases Triangle's rig announcement, adding that all approvals are obtained, Booth-1 starts late June 2024, and NZO's net cost is forecast at A$4.55M under the farm-in terms.
18 Apr 2024drilling scheduled▲ GoodMajor
Triangle has contracted the Ventia 106 rig to drill Booth-1 in L7 in late June–July; Booth has 279 Bcf best-estimate gross gas potential. Triangle's share of the well cost is under A$1.5M. Becos, the second well, is expected in the September quarter, subject to approvals.
4 Apr 2024agm notice▲ Good
All seven resolutions passed at the 4 April general meeting, with 90.9–96.9% of proxy votes in favour. These cover the placement's second tranche, its options, director participation (Todd, Collins) and lead manager options, completing the February placement approvals.
28 Mar 2024capital raising announcement▲ GoodMajor
The entitlement offer closed oversubscribed, raising A$1.52M by issuing 94.8M shares at 1.6c, with 47.4M free options (2.5c, expiring June 2025). This completes the A$6.5M raising begun with the February placement; funds go to Perth Basin drilling and working capital.
What it means for a shareholder
94.8m new shares at A$0.016 to raise about A$1.5m. That's 5.3% dilution: every existing holder's slice gets 5.3% smaller. If you held A$1,000 of shares (62,500 at the issue price), your slice goes from 0.00366% to 0.00347% of the company. To keep it you'd need 3,472 more shares - about A$56 at the issue price.
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13 Mar 2024half year report● Neutral
Half-year report to 31 December 2023 restates known items: 36 MMbbl of L7 oil prospects, the UK licences, and the Cliff Head sale to Pilot for about A$15M in stages. Visible text is truncated and shows no financial figures.
