Triangle Energy (Global) Ltd (ASX:TEG) MD Conrad Todd discusses with Proactive the completion of farm-out negotiations and the signing of a binding term sheet with New Zealand Oil & Gas Limited (NZO) which will acquire a 25% interest in Permits L7 and EP 437 in the north Perth Basin of Western Australia. He says the deal will result in reimbursement of all costs to acquire and process the Bookara 3D seismic and will cover nearly all of Triangle’s upcoming drilling costs in the permits.
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