Triangle Energy (ASX: $TEG) Cliff Head Sale Update

Triangle Energy Global Ltd (ASX: $TEG) is in discussions with Pilot Energy Limited (ASX: $PGY) to extend the completion date on their existing Sales and Purchase Deed (SPD) in respect to their interests in the Cliff Head Joint Venture. Triangle has agreed to sell its 78.75% share of Cliff Head to Pilot, which owns the remaining 21.25% of the project. The completion sunset date is being considered for extension beyond 30 June 2024 to meet NOPTA's requirements for the completion process.

Triangle Energy Managing Director's Comments

The sale will allow Triangle to focus on its highly prospective conventional oil and gas activities, including the upcoming wells in the Perth Basin. With the Booth-1 well expected to spud in late July, Triangle is on the verge of the most active period in the Company's recent history and we look forward to keeping our shareholders updated throughout this exciting period.

Triangle Energy (ASX: $TEG) Cliff Head Sale Summary

Triangle Energy (ASX: $TEG) is in discussions with Pilot Energy Limited (ASX: $PGY) to extend the completion date for the sale of its 78.75% share of Cliff Head to Pilot. The completion sunset date is being considered for extension beyond 30 June 2024 to meet NOPTA's requirements for the completion process. The sale is expected to allow Triangle to focus on its conventional oil and gas activities, including the upcoming wells in the Perth Basin. Triangle is also looking forward to the most active period in the Company's recent history with the Booth-1 well expected to spud in late July.