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Company News
Weekly wrap: gold shines amid growth fears
Gold shone brightly as fears of weaker than expected growth sent the share market down on Friday. Following on from a weaker lead from the US market and some higher-than-expected US consumer inflation data for September, the Australian share market meekly followed and lost ground. The ASX 200 Index fell 0.1% or 8.5 points, to […]
Pilot Energy receives $11.5m acquisition offer for Three Springs solar farm project
Oil and gas explorer Pilot Energy (ASX: PGY) has received an $11.5 million offer from clean energy solutions provider EDP Renewables APAC to acquire the Three Springs solar farm project in Western Australia. The 376-megawatt farm is being developed to support the delivery of up to 1.2 million tonnes per annum of low-carbon ammonia from […]
Pilot Energy receives crucial government nod and investor backing for CO2 storage project
Pilot Energy (ASX: PGY) has received $4 million in firm commitments to support its Mid West Clean Energy project (MWCEP) in Western Australia. Just days after the company reached a critically important milestone for the MWCEP and the Cliff Head carbon storage project north of Perth, Pilot received strong market support for its carbon capture […]
Triangle Energy completes lifting of Cliff Head crude from BP Kwinana Terminal
Perth Basin oil producer Triangle Energy (ASX: TEG) has announced it has completed the lifting of 107,000 barrels of Cliff Head crude oil from the BP Kwinana Terminal in Western Australia under its master sale and purchase agreement with BP Singapore. Triangle and its Cliff Head joint venture partner Pilot Energy (ASX: PGY) recently inked […]
Triangle Energy and Pilot Energy lock in offtake agreement with BP Singapore for Cliff Head oil production
Oil and gas producer Triangle Energy (ASX: TEG) and junior explorer Pilot Energy (ASX: PGY) (together forming the Cliff Head joint venture, or CHJV) have signed a binding offtake agreement with BP Singapore in relation to crude oil production from the Cliff Head field in the Perth Basin, about 12 kilometres off the Western Australian coastline. Under the terms […]
West coast gas sector heats up as companies rush North Perth Basin
Politically incorrect as it might be to invest in oil and gas there is a yawning value gap opening between share prices and a record international price for natural gas, with a bonus in the form of a takeover rush for producers and explorers. The top end of the Australian oil patch has attracted most […]
Triangle Energy and Pilot Energy return offshore Cliff Head oil well back to production
Experienced Perth Basin oil producer Triangle Energy (Global) (ASX: TEG) has announced a return to production for the CH-6 well within the Cliff Head oilfield, 11 kilometres off the coast of Western Australia and some 270km north of Perth. The announcement was made on behalf of the Cliff Head joint venture in which Triangle has a 78.75% […]
Triangle Energy works to close deal with Key Petroleum for exploration licence
The sale of onshore Perth Basin exploration licence EP 437 has moved a step closer with Triangle Energy (ASX: TEG) and Key Petroleum (ASX: KEY) agreeing to extend the cut-off date for the deal to 30 September. Due to a number of delays, it has not been possible to complete the transaction and Triangle has […]
Junior energy stocks are back in the spotlight
The Australian Securities Exchange this week sent out a raft of price queries after a large number of hitherto languishing penny energy stocks sprung to life, with some recording three figure percentage gains. Others, slightly further up the food chain and with advanced projects, were also caught by the incoming market tide. The moves may, […]
Red Emperor joins Pilot Energy and Key Petroleum in offshore WA oil and gas block
Oil and gas explorer Red Emperor Resources (ASX: RMP) has inked a deal to acquire up to a 70% stake and the right to operate a large offshore oil and gas block in the shallow waters of Western Australia’s North Perth Basin. The junior today announced a binding letter of intent signed with block owners […]