Triangle Energy Limited June 2024 Quarterly Activities Report Summary

Triangle Energy (Global) Limited (ASX: TEG) anticipates spudding Booth-1 well on L7 & EP437 by July 31, targeting up to 540 Bcf of gas. An environmental permit for Becos-1 is awaited, with drilling expected in Q4 2024. The final oil offtake from Cliff Head Oil Field is slated for August, transitioning to the Non-Production Phase. Pilot Energy is acquiring 78.75% interest for staged payments totaling AU$16 million.

Other updates include the award of permit P2650 in the UK with Orcadian Energy for shallow gas potential, ongoing negotiations for a Petroleum Service Contract in the Philippines, and federal approval for carbon capture at Cliff Head. The company holds a cash balance AU$5.03 million and a ~9% investment in State Gas Limited (ASX: GAS). Triangle Energy remains committed to environmental and social responsibility, adhering to safety regulations and maintaining a strong safety record.

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