LEVERAGE TO RECOVERING OIL PRICES
Triangle Energy (Global) Limited represents a combination of deep value and exploration leverage, with a rapid and relatively low cost pathway to production given Triangle’s existing production assets. Triangle has executed some big moves for a very small company. It has exited Indonesia with cash, with which it purchased production in West Australia’s Perth Basin, and has since become operator. It was part of a successful bid for highly prospective Queensland coal gas acreage tender, which it spun out as State Gas, a separate listing giving valuation visibility, and has moved to increase exposure to historically unloved and highly prospective tenements close to its existing production base.
