Triangle Energy Global : Issue of Placement Shares

ASX Announcement

20 November 2018

ASX:TEG

ISSUE OF PLACEMENT SHARES

Triangle Energy (Global) Limited (Triangle, the Company) (ASX: TEG) refers to its announcement of 13 November 2018 in relation to the placement of new ordinary shares (Placement) to Professional and Sophisticated Investors (Investors).

The Company advises that it has today issued 19,282,629 fully paid ordinary shares to Investors under the Placement as further detailed in the Appendix 3B attached to this announcement.

Due to this Placement being completed utilising the Company's existing placement capacity under ASX Listing Rule 7.1A the Company provides the following information in accordance with ASX Listing

Rule 3.10.5A.

a) Dilution to existing shareholders as a result of the Placement under Listing Rule 7.1A is 8.8%.

The table below outlines the effect of the Placement on the Company's shares on issue, prior to the Issue Date of the Company's underwritten pro-rata non- renounceable entitlement offer (Entitlement Offer) also announced 13 November 2018:

Share Details	Issued Shares
Number of Shares on Issue prior to Placement	218,115,544
Placement Issue under Listing Rule 7.1A	19,282,629
Number of Shares on Issue following Placement	237,398,173
Dilution to existing shareholders as a result of the Placement under Listing Rule 7.1A	8.8%

• b) The Company conducted the Placement under its Listing Rule 7.1A capacity in order to gain immediate access to capital to fund the announced acquisition of Whitebark Energy Limited's 15% interest in the Xanadu TP/15 Joint Venture and for working capital, prior to the completion of the Entitlement Offer.

• c) The Placement was not underwritten.

• d) A fee of up to 6% will be paid to the Lead Manager in connection with the Placement. General administrative and legal costs have also have been incurred.

ENDS

Triangle Energy (Global) Limited ABN 52 110 411 428

triangleenergy.com.au

Suite 2, 100 Havelock St, West Perth WA 6005 | PO Box 51 West Perth WA 6872 Australia T [phone]

For further information:

Rob Towner Managing Director

[phone]

Darren Bromley Executive Director / CFO / COO [phone] |www.triangleenergy.com.au

Media enquiries:

Margie Livingston, Ignite Communications [phone]

About Triangle Energy (Global) Ltd

Triangle Energy (Global) Ltd is an ASX listed (ASX:TEG) oil producer and explorer based in Perth, Western Australia. The Company has a 78.75% interest in, and is Operator of, the producing Cliff Head Oil Field, which includes the Arrowsmith Stabilisation Plant, and a 45%1 share of the Xanadu-1 Joint Venture, both located in the Perth Basin. Triangle also has a substantial equity interest in State Gas Ltd (ASX:GAS), which has a 60% operating interest in the Reids Dome production licence (PL 231) in Queensland. The Company continues to assess acquisition prospects to expand its portfolio of assets.

1 Subject to the completion of a Sale and Purchase Agreement with Whitebark Energy Limited. See ASX announcement dated 25 October 2018

Triangle Energy (Global) Limited ABN 52 110 411 428

triangleenergy.com.au

Suite 2, 100 Havelock St, West Perth WA 6005 | PO Box 51 West Perth WA 6872 Australia T [phone]

Appendix 3B

New issue announcement

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

Appendix 3B

New issue announcement, application for quotation of additional securities and agreement

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 01/07/96 Origin: Appendix 5 Amended 01/07/98, 01/09/99, 01/07/00, 30/09/01, 11/03/02, 01/01/03, 24/10/05, 01/08/12, 04/03/13

Name of entity

Triangle Energy (Global) Ltd

ACN 110 411 428

We (the entity) give ASX the following information.

Part 1 - All issues

You must complete the relevant sections (attach sheets if there is not enough space).

• 1 +Class of +securities issued or to be issued

  Fully paid ordinary shares

• 2 Number of +securities issued or to be issued (if known) or maximum number which may be issued

  19,282,629

• 3 Principal terms of the +securities (e.g. if options, exercise price and expiry date; if partly paid +securities, the amount outstanding and due dates for payment; if +convertible securities, the conversion price and dates for conversion)

Fully paid ordinary shares

+ See chapter 19 for defined terms.

04/03/2013

Appendix 3B Page 1

Appendix 3B

New issue announcement

• 4 Do the +securities rank equally in all respects from the +issue date with an existing +class of quoted +securities?

  If the additional +securities do not rank equally, please state:

  • • the date from which they do

  • • the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment

  • • the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment

• 5 Issue price or consideration

  Yes

• 6 Purpose of the issue

  (If issued as consideration for the acquisition of assets, clearly identify those assets)

• 6a Is the entity an +eligible entity that has obtained security holder approval under rule 7.1A?

  If Yes, complete sections 6b - 6h

  in relation to the +securities the

  subject of this Appendix 3B, and

  comply with section 6i

• 6b The date the security holder resolution under rule 7.1A was passed

  Working capitalYes

  28 November 2017

• 6c Number of +securities issued without security holder approval under rule 7.1

Nil

+ See chapter 19 for defined terms.

Appendix 3B Page 2

04/03/2013

Appendix 3B

New issue announcement

• 6d Number of +securities issued with security holder approval under rule 7.1A

  19,282,629

• 6e Number of +securities issued with security holder approval under rule 7.3, or another specific security holder approval (specify date of meeting)

  Nil

• 6f Number of +securities issued under an exception in rule 7.2

  Nil

• 6g If +securities issued under rule 7.1A, was issue price at least 75% of 15 day VWAP as calculated under rule 7.1A.3? Include the +issue date and both values. Include the source of the VWAP calculation.

• 6h If +securities were issued under rule 7.1A for non-cash consideration, state date on which valuation of consideration was released to ASX Market Announcements

  Yes

  15 day VWAP: $0.07586

  75% of 15 day VWAP: $0.056895

  Source: IRESS

  N/A

• 6i Calculate the entity's remaining issue capacity under rule 7.1 and rule 7.1A - complete Annexure 1 and release to ASX Market Announcements

  See Annexure 1

• 7 +Issue dates

  Note: The issue date may be prescribed by ASX (refer to the definition of issue date in rule 19.12). For example, the issue date for a pro rata entitlement issue must comply with the applicable timetable in Appendix 7A.

  Cross reference: item 33 of Appendix 3B.

8	Number and +class of	all
+securities quoted on	ASX
(including the +securities	in
section 2 if applicable)

20 November 2018

Number	+Class
237,398,173	Fully paid ordinary shares

+ See chapter 19 for defined terms.

04/03/2013

Appendix 3B Page 3