Triangle Energy (Global) Ltd (ASX:TEG) Provides Update on Becos-1 Well
Becos-1 Well Pad Nears Completion
Triangle Energy (Global) Ltd (ASX: TEG) reports that the well pad for the upcoming Becos-1 exploration well is expected to be completed by the end of December. The construction is progressing smoothly, and Triangle anticipates that the Silver City Drilling rig will arrive on-site at the end of March 2025 after completing other well workovers in the Perth Basin.
Resource Potential
The Becos-1 well is designed to target resource estimates ranging from a low case of 1 million barrels (MMbbl) to a high case of 21 MMbbl, with a best estimate of 5 MMbbl. The probability of success for this venture is set at 20%. The well will primarily assess the Arranoo and Bookara sandstones located between 700 and 800 meters measured depth.
Executive Remarks
Conrad Todd, Managing Director of Triangle, expressed enthusiasm about the progress, stating, “Triangle is pleased to share progress on the Becos-1 well pad and looks forward to spudding the well at the end of March 2025. Triangle considers Becos a compelling target both in terms of the potential resource and the chance of success.”
Motley Fool contributor Lauren Surplice has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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