Triangle Energy Set for Key Well Drilling

Triangle Energy (Global) Limited (AU:TEG) recently announced an update on their upcoming drilling project in the North Perth Basin. The company is set to begin drilling the Booth-1 well by late July 2024, after completing necessary preparations and obtaining regulatory approvals. This well is targeting multiple oil and gas reserves, with a potential resource range of up to 540 billion cubic feet of gas. The drilling process is expected to take around 22 days. Triangle Energy is working alongside partners Strike Energy Ltd and New Zealand Oil and Gas Ltd, with plans to explore the Becos Prospect in permit EP 437. Investors interested in AU:TEG stock can find more information on TipRanks’ Stock Analysis page.