Past year: ▼ 67%(0.10c – 0.30c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
22 Dec 2023production update▼ Bad
Annual integrity testing shut in Cliff Head wells, so production is reduced. CH-6 and CH-13 are back at about 250 bopd; CH-12 is expected to add about 200 bopd by end January, and CH-7 needs a valve fix (about 150 bopd). The A$15M sale to Pilot is described as well advanced.
23 Nov 2023farm in farm out completion▲ GoodMajor
NZO confirms regulatory approvals are received and its farm-in to 25% of L7 and EP 437 is complete. This clears the approvals outstanding since the March agreement; Triangle remains 50% operator with Talon 25%. Drilling is still planned for 2024.
22 Nov 2023investor presentation● Neutral
AGM presentation repeats the strategy: drill three Perth Basin wells in 1H 2024 funded by Talon and NZOG, and divest Cliff Head to Pilot for about A$15M. Cash A$7M at September 2023. No new results.
7 Nov 2023other● Neutral
Registry report listing top holders of the 159.6M unlisted A$0.025 options, expiring 30 June 2025. The top 20 hold 74.88%. Administrative only; no business news.
3 Nov 2023asset acquisition disposition▲ GoodMajor
A 50/50 joint venture of Triangle and Athena (operator) is offered five UK West of Shetland blocks containing the Cragganmore gas discovery (best-case 527 Bcf gross, 263 Bcf net to Triangle). It adds a UK asset to the Perth Basin portfolio; the work program is yet to be finalised.
9 Oct 2023drilling scheduled▲ GoodMajor
The L7/EP 437 joint venture (Triangle 50%, Talon 25%, NZO 25%) has ordered casing and wellheads for two wells, with Booth (gas, mid-case 279 Bcf) first and Becos (oil, 5 MMbbl) second. Farm-in transfers are approved. No rig date is set yet.
29 Sept 2023annual report● Neutral
Corporate governance statement for FY2023 against ASX recommendations, with Appendix 4G. Administrative disclosure; notes no women on the board or among senior executives. No new business information.
29 Sept 2023annual report● Neutral
Annual report for year to 30 June 2023 with directors' report, financial statements and corporate directory. The board is unchanged: Hancock, Todd and Collins. Text provided is truncated, so no financial figures are reported here.
6 Sept 2023investor presentation● Neutral
Good Oil Conference presentation repeats known facts: three Perth Basin wells targeted 1H 2024 paid for by Talon and NZOG, and the Cliff Head sale to Pilot (~A$15M). It states the sale removes an abandonment liability of about A$20M (company's figure). No new results.
27 July 2023asset acquisition disposition● NeutralMajor
Triangle agrees to sell its 78.75% of Cliff Head to Pilot, replacing the October 2022 60/40 deal. It receives A$3M on the storage declaration, A$4.5M on the injection licence, and up to A$7.5M in royalties, about A$15M in total. Completion is expected early 2024, with Triangle refocusing on Perth Basin exploration.
27 July 2023asset acquisition disposition● Neutral
Joint Pilot/Triangle release repeating the 27 July revised deal: Pilot buys Triangle's 78.75% of Cliff Head via subsidiaries including operator TEO, for about A$15M (A$3M, A$4.5M, up to A$7.5M royalties). Completion expected early 2024. Duplicate of Triangle's own release.
2 May 2023admin correction● Neutral
Triangle re-lodges its March quarter Appendix 5B on a newer form version. No numbers or comments changed. Administrative only.
30 Mar 2023asset acquisition disposition● Neutral
Key Petroleum says it received the final 31,378,015 Triangle shares for its L7 and EP 437 interests and sold them on market on 27 March for about A$562K net. This closes out the Key purchase begun in January 2021, and these shares were sold into the market.
27 Mar 2023resource reserve update▲ Good
Talon reports the same preliminary prospective resources for L7's three gas prospects, each over 50 Bcf, all near the Dampier-Bunbury pipeline. The joint venture plans to drill the two best in 2024, possibly accelerated to early 2024. Largely duplicates Triangle's release.
27 Mar 2023joint venture update● Neutral
NZO says Triangle gave the joint venture a technical update on early Bookara 3D seismic findings, which it describes as in line with expectations. Refers readers to Triangle's 27 March release; adds no new numbers.
27 Mar 2023resource reserve update▲ GoodMajor
First interpretation of the Bookara 3D seismic high-grades four drilling prospects for 2024: three gas in L7 (Booth, Huntswell Deep, Mountain Bridge South, combined best estimate 393 Bcf gross) and one oil in EP 437 (Becos, 5 MMbbl best). Unrisked estimates, considered moderate risk.
20 Mar 2023farm in farm out completion▲ GoodMajor
Triangle signs the binding NZO farmout agreement for 25% of L7 and EP 437, completing the January term sheet; only regulatory approvals (DMIRS, FIRB) remain. NZO pays A$1.9M for seismic, A$9.96M in total. With Talon, this recovers all Bookara seismic cost; drilling is now targeted for first half 2024.
20 Mar 2023farm in farm out completion▲ Good
New Zealand Oil & Gas confirms it has signed a binding farm-out agreement for 25% of L7 and EP 437, with due diligence complete. It will pay A$1.9M of seismic costs plus about A$9.96M in total, subject to regulatory approvals. Mirrors Triangle's release.
15 Mar 2023half year report● Neutral
Half-year report to 31 December 2022 largely restates known events: the truck-to-tanker oil export route, the Talon and NZO farm-ins, and the 9.7 Mt CO2 storage upgrade. It describes TP/15 as in the final stages of relinquishment, and Triangle's State Gas stake at about 10.6%. Financial figures were truncated.
1 Mar 2023farm in farm out completion▲ Good
Talon confirms it signed the formal farm-in for 25% of L7 and EP 437, paying about A$1.9M for seismic (A$1M now, rest before 1 Sep 2023) plus about A$7.3M of well costs. New joint operating agreements are waived until May. Mirrors Triangle's release.
1 Mar 2023farm in farm out completion▲ GoodMajor
Triangle signs the binding farmout agreement with Talon for 25% of L7 and EP 437, with all conditions satisfied. Talon pays the first A$1M of its seismic share. This completes the term sheet of December 2022. Drilling is estimated for early 2024.
6 Feb 2023production update▲ Good
A$5.7M received for the second Thailand shipment, about A$4.5M to Triangle and A$1.2M to Pilot. The tanker has left Geraldton with 51,100 bbls, with payment expected in March. Confirms the export route is generating cash.
17 Jan 2023farm in farm out agreement▲ GoodMajor
Triangle signs a second binding term sheet, farming 25% of L7 and EP 437 to New Zealand Oil & Gas, taking Triangle to 50% and operator. NZO pays A$9.96M in total. With Talon, this covers all seismic cost and nearly all of Triangle's drilling costs; first L7 well planned Q1 2024.
17 Jan 2023farm in farm out agreement▲ Good
New Zealand Oil & Gas announces a binding term sheet for 25% of Triangle's L7 and EP 437, paying A$1.9M of seismic costs plus well shares. Subject to due diligence and approvals; with Talon, Triangle would hold 50%. Mirrors Triangle's release.
20 Dec 2022production update▲ Good
The AB Paloma delivered 52,900 bbls to a Thailand refinery, with payment due early February 2023. A fifth load of about 25,500 bbls is aboard at Geraldton, and the tanker awaits another load in 5-6 weeks. Export routine continues.
19 Dec 2022farm in farm out agreement▲ GoodMajor
Triangle signs a binding term sheet farming 25% of L7 and EP 437 out to Talon, keeping operatorship and 75%. Talon pays A$1.9M of seismic cost plus well shares, A$9.26M in total. Drilling expected early 2024. Begins the search for a farm-in partner noted earlier.
19 Dec 2022farm in farm out agreement▲ Good
Talon Energy announces a binding term sheet to take 25% of Triangle's L7 and EP 437, subject to its due diligence. It pays about A$1.9M towards Bookara seismic costs and funds shares of three 2024 wells. Mirrors Triangle's own release.
30 Nov 2022resource reserve update▲ GoodMajor
The Cliff Head JV lodged its NOPTA application for a greenhouse gas storage declaration and raised the 2C contingent CO2 storage resource about 50% to 9.7 million tonnes (100%). A declaration would trigger the Pilot 60%/Triangle 40% restructure. Capex guidance stays at about A$110M.
15 Nov 2022joint venture update● Neutral
Pilot reports its Mid West Clean Energy Project progress. The Cliff Head JV expects to lodge the NOPTA greenhouse gas storage declaration application within weeks, with CCS front-end design in 2023. Mostly Pilot's own matters (8 Rivers A$500K investment, new hires).
14 Nov 2022production update▲ Good
Fourth Cliff Head load of 26,500 bbls put on the AB Paloma, which sails for Asia with 53,000 bbls. Continues the truck-to-tanker export route begun in July; Pilot and Triangle still finalising Cliff Head alignment.
