Triangle Energy Global Ltd is pleased to advise that that the Silver City Rig 24, to be used to drill the
upcoming Becos-1 exploration well in the Perth Basin, is expected to arrive on location in the first week of April 2025
with spud to take place the following week.
Triangle will notify shareholders when the drilling commences.
All civil construction work is complete (Figure 1), and services are in place to receive the rig, which will take up to
two weeks to be transported to the site and rigged up, having completed its latest work for other operators in the
Perth Basin.
Becos-1 is being drilled by the EP 437 Joint Venture, comprising Triangle (ASX:TEG) 50% (Operator), and
subsidiaries of Strike Energy (ASX:STX) 25% and Echelon Resources (ASX:ECH) 25%.
The Becos-1 well will target a fault bounded structure at the basal Triassic, Bookara Sandstone horizon (Figure 2),
for which Triangle holds a range in Prospective Resources from 1 million barrels (MMbbl) to 21 MMbbl (Low to High
Case) with a best estimate of 5 MMbbl, (2.5 MMbbl net to Triangle’s 50% interest). The geological chance of success
for the well (GPOS) is 20%.
Triangle Managing Director, Conrad Todd, said:
“We are excited to be ready to drill the Becos-1 well as the second drill in our Perth Basin campaign. Triangle
considers Becos a compelling target both in terms of the potential resource and the chance of success and we will
notify shareholders when the drilling commences”.
Authorised for Release by: The Board of Directors