Highlights
• Triangle as the operator of the L7 JV, has taken possession of the Ventia 106 rig which will
drill the onshore Booth-1 well
• The rig is currently mobilizing to site and is expected to be ready to commence drilling in
approximately 10 days with spudding anticipated to occur around 31 July 2024
• The Booth Prospect comprises multiple oil and gas targets, with a total Prospective
Resource range of 113 Bcf (billion cubic feet of gas) to 540 Bcf with a Best Estimate of 279
Bcf (Gross 100%, on-block)
• Discussions underway to secure a rig to drill the Becos Prospect in the EP 437 Permit
Triangle Energy Global Ltd is pleased to advise that the L7 Joint Venture comprising Triangle,
Strike Energy and New Zealand Oil and Gas has received the Ventia 106 rig which
will drill the Booth-1 well in the North Perth Basin.
It is expected to take 10 days to move the rig to site. Triangle, as Operator, expects the well to be spudded
on or about 31 July 2024.
The Booth prospect (Figure 1), located in the east of L7, is the first well in the upcoming drilling campaign,
targeting gas at the Kingia-High Cliff reservoirs. There is also potential for oil or gas in the overlying
Dongara and Cattamarra Coal Measures sandstones.
The Booth prospect hosts multiple oil and gas targets, with a Prospective Resource range of 113 Bcf
(billion cubic feet of gas) to 540 Bcf with a Best Estimate of 279 Bcf (Gross 100%, on-block). The well has
a prognosed total depth of 2,900m (measured depth) and is expected to take around three weeks to drill.
The well will deviate 800m to the south-east from the surface location to intersect the three prospective
reservoirs that are offset in depth and will have a true vertical depth of 2,670m.
Triangle Managing Director, Conrad Todd, said: “Receipt of the Ventia 106 rig is an important
milestone for Triangle, putting us on track to spud the eagerly awaited Booth-1 well in the next two
weeks.
“This will be the first well drilled in our permits for 30 years. In tandem with drilling the Booth-1
well, we are progressing drilling plans for the Becos-1 well in the EP 437 permit. These will be the
first two wells drilled to test the many targets identified using the new 3D seismic data that was
acquired over these permits”.