InvestSMART

Triangle Energy (Global) Limited (ASX:TEG)

ALERT: Price-sensitive ASX Announcement for TEG
Current share price for TEG : $0.001 -0.002 (-66.67%)+
Announcement
Release
23 Mar 2026 8:18AM
Price at Release
$0.003
Full Release
download
Summary
Winchester Energy Limited (ASX: WEL) has entered into a binding term sheet with Triangle Energy (Global) Limited (ASX: TEG) and Tetragon Energy Limited to participate in a joint study for oil and gas prospects in offshore Indonesia. The study aims to evaluate an exploration area in Indonesian waters at a cost of approximately USD 300,000 over 6 to 8 months. Winchester and Tetragon each have options to acquire 24.5% interest, with Triangle being the operator at 51% if a Production Sharing Contract (PSC) is awarded. Triangle provides a performance bond for the study, and the outcome will determine the next steps to apply for a PSC. The financing involves loan facilities from company executives, with arrangements confirmed as arm’s length transactions under Australian law.
Key Points
  • Binding term sheet signed for joint study offshore Indonesia.
  • Triangle Energy to operate with a 51% interest.
  • Winchester and Tetragon to have 24.5% interest each.
  • Study cost is approximately USD 300,000.
  • Study duration is 6 to 8 months.
  • Potential future PSC application based on study results.
  • Financing arranged through loan facilities with executives.
  • Performance bond provided by Triangle Energy.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.