Triangle Energy's imminent acquisition of a highly prospective Perth Basin block has been boosted by news it has delivered a 370 per cent increase in its best gas resource estimate – from 165 billion cubic feet of gas to 617bcf. Triangle is buying the 50 per cent it doesn't already own in the acreage from departing partner Key Petroleum.
Triangle Energy's new board has laid out its plan for the road ahead since taking control of the Perth Basin operator, focusing firmly on the $11 million final shipment from the BP Kwinana facility in June. The company has just completed a strategic review that aims to preserve and increase production across its portfolio of assets.
