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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
23 Mar 2026 8:59AM
Price at Release
$0.003
Full Release
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Summary
Triangle Energy (Global) Limited, listed on the Australian Securities Exchange as TEG, has secured funding for a Joint Study Agreement (JSA) in Indonesia. The company is partnering with Tetragon Energy and Winchester Energy, which are providing loans and partial funding to evaluate exploration acreage. The Joint Study, coordinated by the Indonesian authority SKK MIGAS, allows participants to assess geological and economic data before entering a Production Sharing Contract (PSC) bid round. The study cost is approximately US$300,000 and is expected to take 6 to 8 months. Triangle Energy has arranged a performance bond through its Australian bank for this purpose. Both Tetragon and Winchester will have the option to take a 24.5% interest in any resulting PSC, with Triangle holding the remaining 51% interest and operatorship. The study does not guarantee exploration rights, and any future PSC will be competitively awarded.
Key Points
  • Triangle Energy secures funding for a Joint Study Agreement in Indonesia.
  • Partners include Tetragon Energy and Winchester Energy.
  • Joint Study coordinated by Indonesian authority SKK MIGAS.
  • Study cost around US$300,000, expected to take 6-8 months.
  • Performance bond arranged through Australian bank.
  • Tetragon and Winchester may take 24.5% interest in resulting PSC.
  • Triangle Energy retains 51% interest and operatorship.
  • Study does not guarantee exploration rights; PSC awarded competitively.
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.