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Winchester Energy Limited (ASX:WEL)

ALERT: Price-sensitive ASX Announcement for WEL
Current share price for WEL : $0.002 -0.002 (-50%)+
Announcement
Release
23 Mar 2026 8:18AM
Price at Release
$0.003
Full Release
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Summary
Winchester Energy Limited (WEL) has entered into a binding term sheet with Triangle Energy and Tetragon Energy for participation in a joint study of oil and gas prospects offshore Indonesia. The partnership involves funding a study and performance bond, with WEL entitled to a 24.5% interest in any Petroleum Sharing Contract (PSC) awarded over the study area. The study, conducted with an Indonesian technical institute under SKK Migas oversight, aims to assess geological and economic potential over six to eight months. Triangle would operate with a 51% interest, with Winchester and Tetragon each holding 24.5%. The study is a pre-licensing arrangement allowing access to government data, but does not guarantee future exploration rights.
Key Points
  • Winchester Energy Limited partners with Triangle Energy and Tetragon Energy for joint study in Indonesia.
  • Binding term sheet signed for participation in oil and gas prospect exploration offshore Indonesia.
  • Joint study to last 6-8 months costing approximately US$300,000.
  • Winchester and Tetragon to provide A$500,000 loan each as collateral for a performance bond.
  • WEL and Tetragon to have 24.5% interest in any future PSC with Triangle as operator holding 51%.
  • Study allows access to government data but does not assure exploration rights.
  • Participants may receive preferential consideration in competitive PSC bid rounds.
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.