Business Summary

Triangle Energy (Global) Limited is an oil and gas production and exploration company. The Company’s projects include L 7 Mount Horner and UK Permits P2628 and P2650. The Company holds an approximately 50% interest in the Mt Horner L7 Production License (L7) and the EP 437 exploration license. The Mt Horner license overlies the Allanooka Terrace in the North Perth Basin and is adjacent to the prolific Dandaragan Trough, and south of Geraldton, located about five hours' drive north of Perth. The L7 Permit is situated just north of the large Waitsia, Senecio and Lockyer Deep gas fields. It holds a 50% interest in Permit P2628 in the West Shetlands Basin in the United Kingdom offshore. The permit is operated by Athena Exploration and includes the Cragganmore gas discovery. It also holds a 50% interest in Permit P2650 on the northern margin of the Mid-North Sea High. The permit is operated by Orcadian Exploration and includes gas exploration permits.