Triangle Energy (Global) Limited
(ASX:TEG)
, a key player in oil and gas exploration and production within Western Australia’s Perth Basin, has initiated voluntary administration for itself and three wholly owned subsidiaries. This move follows the earlier appointment of administrators to Pilot Energy Ltd and Triangle Energy (Operations) Pty Ltd, the operator of the Cliff Head Project, triggered by the company’s inability to fulfill potential decommissioning obligations under Commonwealth offshore petroleum legislation. The appointed voluntary administrator will collaborate with government regulators, creditors, and stakeholders to explore options and optimize outcomes for all involved parties.
Key Highlights
- Triangle Energy (Global) Limited
(ASX:TEG)
, an oil and gas producer in the Perth Basin, has appointed Bryan Hughes from 101 Advisory as voluntary administrator. - Voluntary administration extends to four entities: the parent company and three wholly owned…