Triangle Energy has casing and wellheads lined up for two of three high-value wells it will drill at its onshore Perth Basin areas in the first half of next year. The company has received regulator approval to farm out a 50 per cent interest in its permits, which will see some $20 million enter the company's coffers to offset drilling and seismic processing costs.
Oil producer Triangle Energy Global has wrapped up the acquisition of two highly-prospective oil and gas permits in WA's Perth Basin, handing over 31.3 million shares to Key Petroleum to seal the deal. The company previously held a major stake in both assets and mopped up the balance in exchange for $600,000 in cash and $500,000 in shares to be issued by June 30.
ASX-listed Triangle Energy could soon have $6.72 million to inject into its portfolio of WA-based oil and gas operations after selling off a slice of its interests in NSW oil and gas developer State Gas. Despite offloading 24 million shares, Triangle retains a strategic holding in State Gas of more than 10 per cent and says it is now well positioned to navigate an increasingly evolving energy sector.
Triangle Energy has completed the acquisition of two highly prospective oil and gas permits in WA's Perth Basin from ASX-listed explorer Key Petroleum. The company previously held a major stake in both assets and mopped up the balance in exchange for $600,000 in cash and $500,000 in shares to be issued on or before June 30, 2023.
Triangle Energy Global and Key Petroleum have extended the completion of their onshore Perth Basin acreage sale until the end of September due to unforeseen delays, however the pair are confident the deal will be cemented before then. Triangle is soaking up Key's interests in its L7 and EP 437 permits as the company refocuses its growth strategy from offshore Perth Basin oil towards big inland gas targets.
Our board moves wrap includes Robert Ryan, Tim Goyder, Derek La Ferla, Jim Landau, Peter Marks, Jason Shaw, Louis Chien, DongMei Ye, Ric Jason, David Chapman, Lisa Mitchell, and Neil Meadows.
Today's board moves wrap includes Nicholas Ong, Sam Budiselik, John Ribbons, Melissa Chapman, Catherine Grant-Edwards, Michael Nossal, DongMei Ye, George Karageorge, Stuart Till, Terry Strapp, Chris Berkefeld, Eugene Nel, John Ciganek, and Bill Oliver.
Our board moves wrap includes Simon Jackson, Trevor Benson, Marc Steffens, Rex Turkington, Kane Marshall, Ric Jason, Geoff Baker, Justin Boylson, and Gregg Taylor.
Nickel-explorer St George Mining has completed an institutional-led placement to raise $5.8 in funding for its flagship project at Mt Alexander, in the north-eastern Goldfields of Western Australia.
Flow tests from the deepest well ever drilled in Australia are expected within days, but it has already refocused attention on the oil and gas industry in the Perth basin.
Community interest in the controversial practice of fracking has prompted Western Australia's environmental watchdog to issue advice on how it will assess shale and tight gas proposals.
Rey Resources has entered into an agreement to raise $3 million which will fund a new well in the perth basin, as AWE also this week commenced drilling a new well in the same region.
The entry of two European energy companies into WA will help to bolster activity in the onshore oil and gas sector, which is set for a pick-up after a series of disappointments.
Perth oil and gas explorer Rey Resources has agreed to farm into the Dunnart-2 exploration well joint venture in the Perth Basin with Key Petroleum and Caracal Exploration.
Empire Oil & Gas has appointed an independent chief executive to lead the business following a board overhaul last year which claimed the scalps of each of its former directors.
Sino-Australian investment house ASF Group will become the single largest shareholder in Perth-based Key Petroleum after agreeing to a 19.9 per cent placement of Key shares as the company expands its interests in Canning Basin oil and gas plays.
AN energy player backed by Warren Buffett's investment company Berkshire Hathaway has become the latest to tackle the tight gas reserves at Whicher Range near Busselton, hoping to succeed where man
West Perth-based Key Petroleum has entered a deal with an unlisted UK company to acquire its wholly owned subsidiary, Midmar Energy Onshore, for £2 million ($A4 million).
