Triangle Energy's exploration progress

Triangle Energy (ASX:TEG) is advancing its exploration efforts with the completion of the well pad for the Becos-1 exploration well in the Perth Basin. The well pad is scheduled to be finished by December 2024, with drilling planned to commence by March 2025. Triangle Energy holds a 50% interest in the joint venture with Strike Energy and Echelon Resources.

Triangle Energy's strategic exploration outlook

Triangle Energy is making significant strides in its exploration activities in the Perth Basin with the Becos-1 well. The joint venture with Strike Energy and Echelon Resources, where Triangle holds a 50% stake, is targeting oil resources ranging from 1 MMbbl to 21 MMbbl. The well aims to explore the Arranoo and Bookara sandstones, with additional potential in the Kingia Formation. The well pad is expected to be completed by December 2024, with drilling to start by March 2025. Triangle Energy is also exploring acquisition opportunities to expand its portfolio, showcasing its strategic focus on growth and resource development.

Insights from Triangle Energy management

We are optimistic about the potential resources and the chances of success for the Becos-1 well.