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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
10 Oct 2025 9:24AM
Price at Release
$0.003
Full Release
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Summary
Triangle Energy (Global) Limited (ASX:TEG) announced that it has been awarded an exploration Service Contract SC-82 in the Cagayan Basin onshore Philippines on the island of Luzon. The contract includes a 100% interest in a block of 4,700 km² with a gas discovery well, Nassiping-2, located near the local power grid. The area has additional prospectivity and significant demand for gas. The work commitment is structured over five phases spanning seven years, with the opportunity for Triangle to accelerate the program. The Australian Government has expressed its support for Triangle's investment in the Philippines, aligning with its Southeast Asia Economic Strategy. This contract marks a significant entry into a new market for Triangle Energy.
Key Points
  • Awarded exploration Service Contract SC-82 in Cagayan Basin, Luzon, Philippines
  • 100% interest in a 4,700 km² block
  • Nassiping-2 gas discovery well located near the power grid
  • High demand for gas in the region
  • Five-phase, seven-year work commitment
  • Opportunity to accelerate the program
  • Support from the Australian Government
  • Significant market entry for 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.