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Triangle CEO Rory McGoldrick and former MD Conrad Todd BNBWA

Bulls N' Bears 30 Apr 2026

Triangle Energy reshapes leadership as Tetragon spinout gains pace

Triangle Energy has promoted Rory McGoldrick to chief executive officer as part of a broader reset following the spinout of its wholly owned Tetragon Energy. The company will focus on its Perth Basin and United Kingdom gas assets, while progressing the Cliff Head divestment. Former managing director Conrad Todd has shifted to a non-executive role and will lead Tetragon Energy ahead of its planned ASX listing.

Bulls N' Bears 16 Apr 2026

Triangle extends loan for stake in WA oil & gas play

Triangle Energy has provided a $250,000 loan to Pilot Energy, securing a one-year option to acquire a 7.5 per cent stake in the offshore WA-481-P permit for another $250,000. The deal gives Triangle a low-cost entry ticket into the permit as Pilot works to finalise its own funding and strategic initiatives.

220412 Triangle Energy MD Conrad Todd BullsNBearsWA BN

Bulls N' Bears 23 Mar 2026

Triangle locks in funding for Indonesian oil and gas exploration push

Triangle Energy has locked in financing from ASX-listed Winchester Energy and Triangle's wholly owned subsidiary, Tetragon Energy, to fund an Indonesian Joint Study in an offshore oil and gas exploration license in Indonesia. The deal will spread the costs and risk while allowing the company to retain a 51 per cent stake and operatorship in any future PSC.

Triangle Energy plans to spin out its Phillipine assets

Bulls N' Bears 17 Mar 2026

Triangle to spin-out Asian energy assets into new ASX-listed vehicle

Triangle Energy has revealed plans to spin out the company's Philippine assets and its wholly owned subsidiary Tetragon Energy, to create an Asian-focused oil and gas explorer to be listed on the ASX bourse. The plan, subject to the thumbs up from ordinary Triangle shareholders, will result in an in-specie distribution of Tetragon's ordinary shares to existing Triangle shareholders.

Bulls N' Bears 17 Mar 2026

Triangle to spin-out Asian energy assets into new ASX-listed vehicle

Triangle Energy has revealed plans to spin out the company's Philippine assets and its wholly owned subsidiary Tetragon Energy, to create an Asian-focused oil and gas explorer to be listed on the ASX bourse. The plan, subject to the thumbs up from ordinary Triangle shareholders, will result in an in-specie distribution of Tetragon's ordinary shares to existing Triangle shareholders.

Bulls N' Bears 12 Mar 2026

Triangle eyes Indonesian offshore oil and gas play with new study

Triangle Energy has signed a joint study agreement with an Indonesian institution for an offshore exploration area in Indonesia, overseen by the nation's Directorate General of Oil and Gas. The six- to eight-month study is expected to cost about US$300,000 and, once completed, will give Triangle priority rights to negotiate a production-sharing contract. The company says the area is unexplored and prospective for gas and oil.

Bulls N' Bears 10 Oct 2025

Triangle wins gas trifecta with game-changing Philippines licences

ASX-listed Triangle Energy has banked a trifecta in the Philippines, bagging two offshore and one onshore petroleum exploration licences, which the company says have handed it a commanding position in some of the region's most prospective, underexplored terrain. With contingent resources in the hundreds of billions of cubic feet and gas-hungry markets on tap, Triangle is now sitting on what could be Southeast Asia's next major gas story.

Triangle Energy gas within areas of high amplitudes

Bulls N' Bears 18 Aug 2025

Triangle, Athena boost UK gas resources near Shetland Islands

Triangle Energy and its joint venture partner Athena Exploration have substantially boosted gas resources at their UK North Sea permit, marking a significant milestone for the two companies. The marked increase in both contingent and prospective resources positions the partners among the top three holders of undeveloped gas resources in the UK west of the Shetland Islands and in the southern North Sea.

Cliff Head oil well is being repurposed as a carbon capture and storage facility.

Bulls N' Bears 24 Jun 2025

Pilot, Triangle lock in Cliff Head transfer for carbon capture play

Pilot Energy has locked in the purchase of the WA-based Cliff Head oil facility from former joint venture partner Triangle Energy and will repurpose the asset for carbon capture and storage. Pilot has acquired Triangle's remaining 78.75 per cent interest in the oil field to assume full ownership of its onshore assets as well as all its offshore assets within WA jurisdiction.

Bulls N' Bears 14 Apr 2025

Triangle spuds Perth Basin oil play eyeing 21-million-barrel prize

Triangle Energy has started drilling its hotly anticipated Becos-1 oil exploration well in Western Australia's Perth Basin. The rods for the conventional well started spinning two days ago to target a fault-trapped rock layer called the Bookara Sandstone from the Triassic period. The company estimates there could be 1-21MMbbl in the pay zone, with a best guess of 5MMbbl.

Bulls N' Bears 31 Mar 2025

Triangle set to turn rods in Perth Basin oil hunt

Triangle Energy's share price jumped 11% on strong volumes after confirming its highly anticipated Becos-1 exploration well in WA's Perth Basin is set to spud in April, targeting up to 21 MMbbl of oil. Silver City Rig 24 is en route and expected on site next week to tackle Triangle's 50 per cent owned EP 437 permit that it jointly holds with Strike Energy and Echelon which have 25% each.

Triangle Energy Global's Becos-1 well pad

Bulls N' Bears 16 Dec 2024

Triangle locks-in oil rig for Becos-1 Basin well in Perth Basin

Triangle Energy's well pad for its upcoming Becos-1 exploration well in WA's Perth Basin is in the final stages of construction. The pad's completion is set for the end of December, ahead of a March spud of the highly anticipated onshore Becos-1 wildcat well, which is targeting a resource of between 1 million and 21m barrels of oil.

Bulls N' Bears 05 Nov 2024

Triangle locks in oil rig for Becos-1 Perth Basin wildcat

Triangle Energy Global has locked in Silver City Drilling's Rig 24 for a March spud of its Becos-1 wildcat well in West Australia's Perth Basin targeting up to 21 million barrels of oil. The well will reach its main targets, at a depth of between 700- 800m with a chance to hit an additional reservoir on its way to an eventual depth of 1140m.

Bulls N' Bears 21 Oct 2024

Triangle banks $2.4m, sheds operating costs at Cliff Head

Triangle Energy has cashed its first payment for the sale of its share in the Cliff Head oil joint venture in Western Australia. The $2.4 million payment from JV partner Pilot Energy represents the first of multiple payments totalling up to $18 million for Triangle who will pivot into serious exploration as it prepares to drill further wells in the Perth Basin.

Bulls N' Bears 30 Sep 2024

Triangle gets green light for Perth Basin oil well drilling

Triangle Energy has secured the crucial environmental plan approval to drill its Becos-1 well in WA's Perth Basin and expects to launch the campaign before year's end in its quest for onshore oil and gas. Rig tenders are now underway to test the shallow target where a best estimate of 5 MMbbl has been identified, with the potential to reach as much as 21 MMbbl.

Bulls N' Bears 31 Jul 2024

Triangle spuds exploration well for major WA gas hunt

Triangle Energy Global's hunt for onshore oil and gas in Western Australia has grown white-hot, with the spudding of its Booth-1 exploration well at the Booth prospect marking the launch of a highly-anticipated drilling campaign in the underexplored North Perth Basin. The drilling is targeting a hefty 279 billion cubic feet resource as part of Triangle's joint venture agreement with Strike Energy and Echelon Resources.

Bulls N' Bears 30 Jul 2024

Instos back Triangle $4m raise for Perth Basin campaign

Triangle Energy says its recent $4m capital raise was well supported by financial institutions and sophisticated investors as the company prepares to break out the drill rig for the first time in years in the Perth basin. Triangle is pivoting out of its near depleted Cliff Head offshore oil well and back into exploration with two interesting looking Perth Basin oil and gas plays.

Bulls N' Bears 23 Jul 2024

Revised Cliff Head sale nets $16m for Triangle

Triangle Energy's payoff for the sale to Pilot Energy of its Cliff Head oil asset off the coast of Western Australia now stacks up to $16 million after adjustments made to offset delays in the deal settlement. The new agreement features an extra $1 million for Triangle, which now plans to focus on its prospective conventional oil and gas activities in the Perth Basin.

Bulls N' Bears 22 Jul 2024

Triangle poised for drilling in WA onshore oil-gas search

Triangle Energy's hunt for onshore oil and gas at its Booth prospect in Western Australia's North Perth Basin has stepped up a gear, with spudding of its Booth-1 well anticipated at the end of this month and drilling expected to begin in about 10 days. The company is targeting a vast 279 billion cubic feet resource at Booth.

Bulls N' Bears 14 Jun 2024

Feds clear Triangle pathway for $15m oilfield sale

The Federal Government has paved the way for Triangle Energy Global to complete the $15 million sale of its Cliff Head oil assets off the WA coastline after approving the site for permanent offshore carbon storage. The approval confirmed today by Resources Minister Madeleine King will allow Pilot Energy to acquire the project, while Triangle will set a stronger focus on its Perth Basin targets.

Bulls N' Bears 30 Apr 2024

Solid oil sales for Triangle ahead of gas exploration drive

Triangle Energy Group has capped off a solid quarter, raking in $6.54 million courtesy of oil sales associated with its Cliff Head JV partnership with Pilot Energy. The proceeds are earmarked for high-impact exploration drilling near Geraldton in Western Australia's Mid West region, with the company set to kick off its hunt for hydrocarbons at the Booth-1 well by July.

Bulls N' Bears 18 Apr 2024

Triangle set to kick off Perth Basin oil and gas hunt

Triangle Energy will be hunting a 279Bcf resource in ground south-east of Geraldton in WA's Mid West when it launches drilling for oil and gas at its Booth prospect in the onshore Perth Basin in late June. The Booth-1 well is expected to cost less than $1.5 million and will be followed by the Becos-1 well as the search for hydrocarbons intensifies in the region.

Bulls N' Bears 02 Feb 2024

Triangle bolsters global portfolio with North Sea blocks

The United Kingdom Government has shown its confidence in Triangle Energy Global, offering it a North Sea license containing five prospects with at least 269 billion cubic feet of gas, along with multiple shallow leads. The acreage bolsters Triangle's global portfolio as the company matures plans to drill two wells in the onshore Perth Basin this year.

Bulls N' Bears 11 Jan 2024

Triangle sees 36 million barrels of oil in Perth Basin

New seismic data has revealed that Triangle Energy may be sitting on a gushing 36 million barrels of oil and 535 billion cubic feet of gas as best-estimate prospective (P50) resources in the North Perth Basin. The company plans to drill-test two of its 12 new prospects that hold part of the volume, with wells kicking-off in the first half of this year.

Bulls N' Bears 03 Nov 2023

New gas blocks in North Sea pump up Triangle portfolio

Perth-based Triangle Energy and joint venture partner Athena Exploration have been offered five Cragganmore gas field blocks estimated to contain some 527 billion cubic feet of gas in the North Sea's West of Shetlands province. The blocks are next to 16 others in two gas fields offered to petroleum giant Shell and have produced gas from two prior wells drilled in 2012.

Bulls N' Bears 09 Oct 2023

Triangle readies for drilling at onshore Perth Basin

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.

Bulls N' Bears 27 Jul 2023

Cliff Head sale to fuel Triangle exploration plans

Triangle Energy will ramp up its oil and gas chase after receiving $15 million from Pilot Energy for the sale of its share in the Cliff Head oilfield and carbon reinjection joint venture in waters off the Dongara coastline in Western Australia's Mid West. The consideration will be paid in three stages and is expected to be completed early next year.

Bulls N' Bears 27 Mar 2023

Triangle excited by growing range of Perth Basin prospects

Seismic data from the Perth Basin has unveiled four high-graded oil and gas targets within two permits for a joint venture led by WA-based producer Triangle Energy. Drilling is now scheduled for the first half of next year, while work is also ongoing to further define the identified targets, in addition to adding others to the list.

Bulls N' Bears 20 Mar 2023

Triangle completes $10 million gas deal at Perth Basin

WA-based oil producer Triangle Energy has banked $10 million through a binding farmout agreement with New Zealand Oil & Gas for 25 per cent of its L7 production licence and EP 437 exploration permit. Following the separate sale to Talon Energy in December last year of another 25 per cent slice of its permits, Triangle retains a 50 per cent stake of its original tenure.

Bulls N' Bears 01 Mar 2023

Triangle seals deal on Talon farm out agreement

WA-based oil producer Triangle Energy has signed a binding farm-out agreement with Talon Energy for two onshore gas permits in the Perth Basin after all conditions of the deal were met. The transaction includes the first of two payments towards a 50 per cent share in the 3D seismic dataset known as “Bookara” which stretches across the two permits that were delivered in January. However, final interpretation, mapping and prospect evaluation of the data is ongoing.

Bulls N' Bears 06 Feb 2023

Triangle nets $4.5m after WA oil sales

WA-based producer Triangle Energy has squared away a cool $4.5 million after receiving payment for its second oil shipment to a refinery in Thailand over the December period. The shipment is part of the company's Cliff Head joint venture with Pilot Energy which sees the duo complete production at the Cliff Head oil field about 270km north of Perth before mobilising it to buyers in Asia.

Bulls N' Bears 17 Jan 2023

Triangle gets $9.96m boost after WA gas deal

Triangle Energy Global has reeled in $9.96 million after farming out 25 per cent of its L7 production licence and EP 437 exploration permit in WA to New Zealand Oil & Gas. The deal follows a similar agreement with Talon Energy last year and allows Triangle, who still retains a 50 per cent stake in the assets, to advance exploration in the zones via the newly formed joint venture.

Bulls N' Bears 20 Dec 2022

Triangle executes second oil delivery via new route

JV partners Triangle Energy Global and Pilot Energy have firmed up the efficiency of a new shipping route through the Port of Geraldton in WA after completing a second delivery of 52,900 barrels of oil to a refinery in Thailand. The vessel carrying the freight has since returned from its voyage and has been loaded with a fresh batch of 25,000 barrels of liquids ahead of a new 2023 delivery.

Bulls N' Bears 14 Nov 2022

New oil export route shines for Triangle

The Cliff Head joint venture between Triangle and Pilot Energy continues to deliver the goods with the duo completing its fourth tanker load of 26,500 barrels of oil onto the AB Paloma vessel at the Port of Geraldton in WA. Triangle Energy holds a 78.75 per cent share in the partnership and says the ship is now stocked with 53,000 barrels of oil and is on its way to a refinery in Asia where it will be sold.

Bulls N' Bears 06 Oct 2022

Triangle to rejig oil JV after carbon capture review

WA oil producer Triangle Energy has formalised a deal to reduce its stake in the Cliff Head Joint Venture partnership shared with ASX-listed Pilot Energy. The company currently owns 80 per cent of the project but has agreed to sell off half its rights for $1 million – a sum projected to hit its coffers by the second quarter of next year, pending a government review of the duo's proposed carbon capture and sequestration plan for the site.

Bulls N' Bears 04 Oct 2022

Triangle JV lands pay day after WA oil shipment

Triangle Energy's Cliff Head JV with Pilot Energy could soon pocket about $6.8 million after unloading and subsequently selling off close to 51,000 barrels of oil via a new shipping route through Thailand. The Perth-based oil and gas player could earn about $5.4 million from its share in the project with the company's joint venture partner taking home an estimated $1.4 million for its part of the deal. Another shipment is scheduled for later in the year.

Bulls N' Bears 21 Sep 2022

Triangle Energy snaps up Perth Basin oil and gas assets

Triangle Energy has taken a 100 per cent holding of oil and gas acreage in Western Australia that is currently producing 700 bopd and holding 617 Bcf and 19 million barrels of potential gas and oil respectively. The deal with Key Petroleum also sees the company buy back the five per cent production royalty from Key, that it says makes the permits more valuable.

Bulls N' Bears 17 Aug 2022

Triangle JV wraps up oil shipment, sets sail for Thailand

Triangle Energy has notched up a second milestone for its Cliff Head joint venture in as many months, sending another oil shipment from the joint venture's Arrowsmith stabilisation plant onto a chartered tanker at the Port of Geraldton. The 26,500 barrels joined oil from its maiden lift with the 51,000 barrels now en route to a refinery in Thailand. Triangle holds an almost 79 per cent interest in the partnership with Pilot Energy holding the remainder.

Bulls N' Bears 14 Jul 2022

Triangle exports first oil through Port of Geraldton

Triangle Energy has secured a new export route for its Cliff Head oil to Asian crude markets, loading out 24,500 barrels through a newly established facility at the Port of Geraldton with another 25,000–30,000 barrels to be added in the next six weeks. The deal allows the company to move past this year's closure of BP's Kwinana crude oil handling centre.

Bulls N' Bears 09 Jun 2022

Triangle eyes production boost after well workover

Triangle Energy Global hopes to increase production from its Cliff Head platform by replacing a downhole electrical pump that failed last year after 12 years in operation at the field, the only offshore producing facility in the prolific Perth Basin. The well was closed in September and the phased workover is expected to bring an extra 130 barrels a day.

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