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Talon buys in to Perth Basin

Triangle Energy farms out 25 per cent of Perth Basin permits.

Triangle Energy and Talon Energy have finalised a farmout agreement of 25 per cent two of  permit areas in the Perth Basin.

Talon has confirmed that all conditions precedent to the deal have been satisfied, allowing the deal for 25 per cent of permits L7 and EP 437 to continue.

The first of two payments towards Talon’s 50 per cent share of the Bookara seismic costs can now be made.

Triangle Managing Director Conrad Todd that the company welcomes Talon, acknowledging it as a partner in the Walyering discovery in the Perth Basin.

“We look forward to working with Talon’s management and staff, who are acknowledged to be leading experts in the Perth Basin and who share our vision on the prospectivity of these permits,” he said.

“We are keen to now progress our exploration plans to drill these exciting blocks in the Perth Basin together.”

In April 2022, Triangle indicated that l7 alone had a best-case prospective resource of 617 billion cubic feet across five features.

Talon CEO Colby Hauser said that the company is please with the partnership with Triangle and JV partner New Zealand Oil and Gas.

“The completion of the Farm-In Agreement with Triangle for 25% interest in L7 and EP437 marks the next step in the evolution of Talon and fleshes out our plans for growth in 2024,” he said.


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