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Tetragon Energy Limited (ASX:TET)

ALERT: Price-sensitive ASX Announcement for TET
Current share price for TET : $0.270 0.02 (8%)+
Announcement
Release
13 Jul 2026 9:11AM
Price at Release
$0.250
Full Release
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Summary
Tetragon Energy Ltd, an ASX-listed company, has taken a significant step in its exploration strategy by awarding a contract to DUG Technology to reprocess seismic data over its offshore permits in the Philippines. This US$1.45 million contract involves reprocessing four 3D seismic surveys to improve data quality and enhance the prospects within the SC-80 and SC-81 permits. The reprocessed data, expected to be delivered over the next twelve months, will aid in discussions with potential farm-in partners. Tetragon has acquired these valuable seismic datasets for free, which originally cost over US$20 million, demonstrating the company's strategic investment in maximizing their resource exploration capabilities.
Key Points
  • Tetragon Energy Ltd awards a seismic processing contract to DUG Technology for US$1.45 million.
  • The contract involves reprocessing four 3D seismic surveys covering over 4,000 square kilometers in the Philippines.
  • This reprocessing is part of Tetragon's exploration program over offshore permits SC-80 and SC-81.
  • The reprocessed data aims to enhance prospectivity definitions and support farm-in partner discussions.
  • Initial fast track seismic data is expected in six months, with final processed data in twelve months.
  • Tetragon obtained the seismic surveys for free, which originally cost more than US$20 million.
  • DUG Technology chosen for their expertise and advanced supercomputing technology.
  • Tetragon Energy Ltd is an ASX-listed company with interests in energy exploration.
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.