Triangle Energy Global (ASX: TEG) has commenced drilling at the Becos-1 exploration well in Western Australia’s Perth Basin. Triangle operates the project with a 50% stake, on behalf of the EP 437 joint venture with Strike Energy (ASX: STX) and Echelon Resources (ASX: ECH), each holding a 25% interest. The onshore well targets a fault-bounded structure with pre-drill estimates ranging from 1 million to 21 million barrels (MMbbl), with a best estimate of 5MMbbl. Studies suggest a 20% geological chance of success.
The primary targets are the Arranoo and Bookara sandstones, anticipated between 700 and 800 meters. The planned total depth is 1,164m, with an estimated seven-day timeframe. Triangle will also drill deeper into the early Permian section, exploring potential reservoirs such as the Kingia formation. Results, including logging, are expected around April 20. Following the Becos-1 drilling, Triangle will decide on proceeding with a potential third well, MH-28, which has been assessed as high-grade with targets for oil and gas. The company’s previous well, Booth-1, was plugged and abandoned after failing to encounter moveable hydrocarbons.
