Sign up Australia
Proactive Investors - Run By Investors For Investors

Triangle Energy's Cliff Head Asset Life Extension program advancing

Triangle Energy (Global) Ltd (ASX:TEG) managing director and CEO Rob Towner speaks to Proactive Investors about the oil and gas exploration and production company’s advancements developing the Perth Basin, off the coast of Western Australia.

The company has been remodelling its Cliff Head reservoir for the past three months, with completion of the static modelling stage expected within the coming month. Towner says, “the last 18 months of restructuring the project and business was very much focused on getting the cost of production down. When we purchased into the project, we were running operating or lifting costs at about US$45 a barrel, we’ve now got that down to US$27 a barrel, so these last three months of increased oil prices at above $60 even [means] we are making a good operating margin. So give us six months and we can start to reflect that in the bottom line.”

The onshore Arrowsmith Stabilisation Plant has also been getting plenty of care and attention. It’s regarded by Triangle as a key asset for both the company and the State, with excess production capacity which potentially lends itself to other historic projects and new discoveries, such as the Xanadu joint venture.

Meet Arix Bioscience Plc, Avacta Group Plc and Silence Therapeutics plc at our event, London , 04 October 2018. Register here »
View full TEG profile View Profile

Triangle Energy (Global) Ltd Timeline

December 06 2016
November 06 2015

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use