Echelon Resources, Strike Energy Inform Triangle Energy of Decision to Withdraw from Perth Basin Permits

MT Newswires Live2025-06-20

Triangle Energy (Global) (ASX:TEG) received notices from Echelon Resources (ASX:ECH) and Strike Energy (ASX:STX) that they will withdraw from the L7 and EP 437 permits in the Perth Basin and will not participate in the drilling of the third well that was previously announced under the firms' farmout agreements signed in 2023, according to a Friday Australian bourse filing.

Triangle's Managing Director, Conrad Todd, said the firm was engaging with Strike and Echelon on the remaining costs.

Triangle plans to seek new joint venture partners to join in the drilling of a third well in the permits, and it will consider its position under the existing farmout agreements and joint operating agreements.

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