Triangle Increases Equity in Xanadu Oil Discovery

Source Press Release
Company Whitebark Energy Ltd3C Group IC LimitedNorwest Energy NLTriangle Energy (Global) Limited 
Tags Asset Deals, Deals, Upstream Activities
Date October 25, 2018

The Board of Triangle Energy (Global) Limited (ASX:TEG) (Triangle, the Company) is pleased to announce that it has entered into a Sale and Purchase Agreement to acquire an additional 15% participating interest in Exploration Permit TP/15 (Acquisition). The vendor of the TP/15 Interest is Kubla Oil Pty Ltd (Vendor), a wholly-owned subsidiary of Whitebark Energy Limited (ASX:WBE) (Whitebark).

The TP/15 Joint Venture consists of;

Norwest Energy NL, Operator (via subsidiary) 25%

Triangle Energy (Global) Limited (via subsidiary) 30%

3C Group (via subsidiary) 30%

Whitebark Energy Limited (via subsidiary) 15% (to be acquired by Triangle)

For more details click here,

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