Triangle Energy (ASX:TEG) secures approval for Becos-1 well drilling

Triangle Energy Global Ltd (ASX:TEG) has received approval for the Environmental Plan (EP) to drill the Becos-1 well, a commitment well under the EP 437 permit title. The approval paves the way for drilling the Becos-1 well once a rig is available, with discussions underway for potential alternatives and an anticipated decision within the next few weeks. The primary target is oil in the Bookara and Arranoo reservoirs, with Gross Prospective Resources ranging from 1 million barrels of oil (MMbbl) Low Estimate to 21 MMbbl High Estimate and a Best Estimate of 5 MMbbl recoverable.

Executive commentary on Becos-1 well approval

Triangle Managing Director Conrad Todd stated, 'We are looking forward to drilling the attractive Becos-1 in the North Perth Basin. The Joint Venture will update the market as soon as a rig contract has been concluded with further information on the well. Some preliminary discussions have been held, and it is anticipated a decision will be made within the next few weeks.'

Summary of Triangle Energy's Becos-1 well approval

Triangle Energy (ASX:TEG) has secured approval for the Environmental Plan (EP) to drill the Becos-1 well, a commitment well under the EP 437 permit title. The approval clears the path for drilling the Becos-1 well once a rig is available, with discussions underway for potential alternatives and an anticipated decision within the next few weeks. The primary target is oil in the Bookara and Arranoo reservoirs, with Gross Prospective Resources ranging from 1 million barrels of oil (MMbbl) Low Estimate to 21 MMbbl High Estimate and a Best Estimate of 5 MMbbl recoverable. Triangle Energy continues to assess acquisition prospects to expand its portfolio of assets.