Triangle Energy Global : Investor Presentation

TRIANGLE ENERGY (GLOBAL) LTD (ASX:TEG)

Triangle is an oil producer with a growing exploration portfolio in the highly prospective, under explored Perth Basin

• ▪ Australian based focus for future growth in oil and gas sector

• ▪ Majority interest (78.75%) in Cliff Head Oil Field with strong, predictable cash flows

• ▪ Offshore and onshore infrastructure essential for any exploration success in the region

• ▪ Growth strategy to expand production in the Perth Basin

• ▪ Reserve and Production upside at Cliff Head

• ▪ 50% interest in the Mt Horner L7 Production Licence1

• ▪ 45% interest in TP/15 Xanadu-1 oil discovery2

• ▪ 35.47% equity stake in State Gas Ltd (ASX:GAS). Value $14.3 million at $0.30 per share.

Notes:

1. Subject to completion of the Farmout Agreement (see ASX announcement 31 October 2018).

2. 15% Subject to completion of the Sale and Purchase Agreement (see ASX announcement 25 October 2018).

PERTH BASIN OPERATIONS

Operations Update

• ▪ Business performance in Q3 affected by unplanned production downtime resulting in an average Q3 production rate of 397 bopd

• ▪ CH12 work over successful. CH07 workover ongoing

• ▪ Strong business performance expected for Q4 - average production forecast at 778 bopd

• ▪ Delivered on the Perth basin growth strategy

  • ▪ Enhanced production through the farmin to Mt Horner

  • ▪ Increased exposure to the Xanadu oil discovery

• ▪ Positioned to deliver on production and costs performance targets at Cliff Head

3

Capital Structure and Key Metrics

Board

TEG
	ASX Code
Shares on issue1	218,115,544
Unlisted options on issue	6.000M exc @ $0.06, exp 29 Mar 2019 11.155M exc @ $0.15, exp 19 Jan 2020 0.400M performance shares
Share price1	$0.082
Market Capitalisation1	$17.9 million
CY19 Attributable Cashflow (78.75% Cliff Head, 50% Mt Horner)2	$27.4 million (791 bbl/day, USD 69/bbl, USD/AUD 0.73)
Cash	$2.87 million (at 30 September 2018);
Debt3	USD 1.259 million (Tamarind) AUD 0.62 million (TEO Related Party Loan)

Edward Farrell	Non Executive Chairman
Robert Towner	Managing Director
Darren Bromley	Executive Director - CFO / COO
Wai-Lid Wong	Non-Executive Director
Jason Peacock	Non Executive Director
Tim Monckton	Non-Executive Director

Operating Metrics

June Qtr.	Sept Qtr.	Dec Qtr. (Forecast)
Cliff Head Daily Production (100%)	747 bopd	397 bopd	778 bopd
Net Reserves4	2P Reserves - 2.7 MMstb

Notes:

• 1. As at 5 November 2018. Undiluted market capitalisation.

• 2. Based on CY19 forecast av 778 bbl/day,

• 3. Debt position at 31 July 2018, Tamarind Loan repayable in full on or before 30 June 2019 . Triangle Energy (Operations) Pty Ltd Shareholder Loan (excess cash flow from operations of 50/50% jointlycontrolled entity)

• 4. Reserves as at 1 January 2016 per ROC Oil year end 2015 reserves review. Since this date net production has been 1.02MMstb. The Companyis not aware of any new information or data that materiallyeffects the estimates and believes that all material assumptions and technical parameters underpinning the estimates continue to applyan d have not materiallychanged.

CLIFF HEAD OIL FIELD

Building a strong presence in the Perth Basin

• ▪ Triangle 78.75% interest and Operator; Royal Energy Pty Ltd 21.25%

• ▪ Production with cash flow ( CY 19 av. forecast ~778 bopd)

• ▪ Operator of the only onshore & offshore Infrastructure (cost $327 million) - essential for any other exploration success in the region. Oil production commenced May 2006

• ▪ Capacity to service third party crude (15,000 bopd)

• ▪ Reserves upside

  • • Static Modelling confirms prospective oil initially-in-place

    (OIIP) volumes in near field exploration prospects at Cliff Head

  • • Potential additional reserves in the already discovered reservoirs pending Dynamic Modelling (now due for completion Jan 19)