Triangle Energy (global) Limited · ASX:TEG
Triangle Energy (global) — Good Oil Conference 2023
16 slides from Triangle Energy (global)'s conference presentation, Sep 6, 2023
Slide 1: Good Oil Conference
Good Oil Conference ASX: TEG Highly Leveraged Gas & Oil Exploration North Perth Basin Managing Director, Conrad Todd www.triangleenergy.com.au September 2023
Slide 2: Disclaimer
2 Disclaimer This Presentation is provided on the basis that Triangle Energy (Global) Limited Whenever possible, these ‘forward-looking statements’ are identified by words such as “expects,” (“Triangle” or the “Company”) nor its respective officers, shareholders, related bodies “believes,” “anticipa
Slide 3: Triangle Summary
3 Triangle Summary Triangle Energy rejuvenated board and management 18 months ago Chair MD NED Greg Hancock Conrad Todd Michael Collins 40+ years 40+ years 35+ years CFO Asset Manager Subsurface Manager Marvin Chan Brett MacRae Doug Gillies 20 years 30+ years 35+ years Company is pivoting from legac
Slide 4: Triangle Summary
4 Triangle Summary High leverage gas and oil exploration Triangle Announces divestment of Cliff Head oil field Geraldton >> Focus on gas and oil exploration in North Perth Basin ASX Code: TEG • Shares on issue: 1.365 billion • Share Price 2.1 cents • Market Cap: $28 million • Options 160 million 2.5
Slide 5: Cliff Head Sale
5 Cliff Head Sale • Triangle and Pilot have announced upcoming sale of Cliff Head oil field and facilities to Pilot for conversion to CCS. • Triangle will exit Cliff Head altogether • Pilot will pay Triangle ~$15 million in staged payments • $3 million on 1st Regulatory approval (Declaration of an I
Slide 6: Cliff Head Field
6 Cliff Head Field When two loads are in the tanker, it goes to a Cliff Head Alpha refinery in Asia Ongoing Production 600 bopd Still operate until deal completes 30,000 barrels stored in Onshore Arrowsmith facility When full, trucked to tanker at Port of Geraldton
Slide 7: Present & Future Summary
7 Present & Future Summary Legacy Asset Cliff Head Cashflow Steady • Production steady 600 bopd Cliff Head Sale to Pilot • Likely timing Q1/2 2024 New Export Route For Cliff Head Oil Production • First 51,000 sold >> A$ 6.8 million gross • Payment $15 million • Second 53,000 sold>> A$ 5.7 million gr
Slide 8: L7 & EP 437: Onshore Perth Basin
8 L7 & EP 437: Onshore Perth Basin Farm out to Talon Energy & NZOG 25% interest in L7 & EP 437 farmed out to both Talon & NZOG EP437 Huntswell Deep • Both parties pay 50% of seismic costs 50% L7 50% • Both parties pay 50% of 1st deep well in L7 • Both parties pay 37.5% of 2nd deep well in L7 Booth B
Slide 9: L7 Gas Prospects and Resources
9 L7 Gas Prospects and Resources Over 5 prospects and leads confirmed. Gas Potential Kingia Depth map Excellent potential for gas in Kingia and High Cliff reservoirs Huntswell Deep 3-4 High-graded gas prospects for 2 drill slots in 2024 NB Mt Horner-2 updip overlies a large basement structure:- High
Slide 10: EP437 Oil Prospects and Resources
10 EP437 Oil Prospects and Resources Excellent potential for oil & Oil Potential gas in EP437 EP437 L7 Two oil prospects identified Becos prospect Best Estimate 5 MMbbl oil (100%) Wye Knot Potential value $20 /bbl Permo/Triassic oil target Prospective Resources Net TEG 50% Equity (MMstb Prospective
Slide 11: Perth Basin Value Increasing
11 Perth Basin Value Increasing Local Activity • Norwest >> Mineral Resources $450 million • Warrego >> Hancock $440 million • Talon >> Strike ~$140 million • Triangle Market Cap ~$30 million • Further wells to be drilled in basin: Exploration & Development • All recent deals point to a value of gas
Slide 12: WA Gas market and valuation
12 WA Gas market and valuation • Gas shortage in WA AEMO report Aug 2023 • Going to get worse • Gas from Waitsia >> LNG molecule swap • Gas from Lockyer Deep >> ?mine sites as CNG / LNG • West Erregulla >> ?Perth Gas price rising • Domgas fields on NWS in decline Current price $9/GJ • Collie power s
Slide 13: New Ventures
13 New Ventures UKCS 33rd Offshore Licence Round Triangle Management have extensive experience and Gross G Athena Exploration 2C West of Shetland Gas contacts in the UK. Partner Basin TEG Equity Conting Proven Gas Finders: Anglia Field;- 250Bcf 500 Athena Exploration West of Shetlands 50% We have ut
Slide 14: New Ventures
14 New Ventures Asian expansion Triangle Management have worked and lived in Asia for decades. Conrad Todd Malaysia & Indonesia. Involved in multi Tcf gas discoveries Phillipines Philippines Doug Gillies Malaysia Involved in 500+ MMbbl oil discovery Thailand Worked in Asia over the last 30+ years Ve
Slide 15: Share Price Catalysts
15 Share Price Catalysts: Completed / Progressing 3D Perth Sale GAS Oil export Acquisition Basin CCS 2022 New Board shares route & Farmout Application $6.7 mill Processing (Talon) Perth Basin Cliff Head UK Round New UK Licence 2023 Farmout Divestment Award Ventures Round App (NZOG) Agreed Q4 23 Q4 2
Slide 16: Thank You
Thank You Managing Director, Conrad Todd www.triangleenergy.com.au ASX: TEG