Just the Facts: Triangle Energy secures rig for Becos-1 in Perth Basin

Proactive - Interviews for investors

Proactive’s Tylah Tully breaks down ‘Just the Facts’ of the latest news from Triangle Energy (Global) Ltd (ASX:TEG). The company has awarded a rig contract to Silver City Drilling for the Becos-1 well in the Perth Basin, where it holds a 50% interest, alongside partners Strike Energy and Echelon Resources. Drilling operations for this exploration well are planned to commence in late March 2025. The Silver City Rig 24 will mobilise from the Canning Basin to conduct workovers in the Perth Basin prior to beginning the Becos-1 campaign. These workovers are scheduled on a 12-hour basis and will include a break over the Christmas period. Becos-1 is expected to explore resources ranging from 1 to 21 million barrels, with a best estimate of 5 million barrels and a 20% chance of geological success. The primary drilling targets are the Arranoo and Bookara sandstones, located at depths between 700 and 800 metres, with an additional opportunity to reach the Kingia sandstone. The entire operation is projected to span 12 days, with seven days allocated for drilling. Triangle says that the rig contract signifies substantial progress towards the planned drilling, bolstered by full funding from a recent payment under the Cliff Head agreement. #ProactiveInvestors #TriangleEnergy #ASX #JusttheFacts #PerthBasin #Becos1 #OilExploration #EnergyDevelopment #DrillingCampaign #OilAndGas #AustraliaEnergy #StrikeEnergy #EchelonResources #ResourceExploration #EnergyInvestment #OilProduction #NaturalResources #EnergyProjects #SilverCityDrilling #OilIndustry #EnergyNews #ExplorationUpdate #ConventionalOil