Triangle Energy (Global) Ltd has identified multiple new gas prospects within the L7 and EP437 permits in the Perth Basin following a 3D seismic interpretation and review by TEG and its joint venture partners Talon Energy Ltd (ASX:TPD) and New Zealand Oil and Gas Ltd.
The three partners (TEG:50, TPD:25, NZO: 25) are working collaboratively to refine four new potential drilling candidates for a 2024 drilling campaign.
Three of the prospects sit on L7, with two to be drill tested, as well as one prospect TEG describes as “attractive” on the EP437 permit.
“Exciting range of prospects”
“I am pleased to report to shareholders that the review of the 3D seismic data has progressed to the point where the JV has identified an exciting range of prospects across both permits, for which the JV has calculated preliminary resource estimates,” Triangle Energy managing director Conrad Todd said.
“The joint venture will now undertake further interpretation and in-depth technical studies in order to fully evaluate the potential of these prospects and to refine further prospects and leads identified within these permits.”
The company intends to drill test at least three prospects in the first half of 2024. In the meantime, TEG will:
- Sign and lodge Joint Operating Agreements
- Finalise 3D seismic interpretation
- Undertake new petrophysical evaluation and incorporate results
- Refine prospects
- Undertake Joint Venture Technical Committee Meetings
- Begin well planning: Landholder consultation and Environmental permissions