Triangle Energy Global : Operations Update

ASX Announcement

30 July 2018

ASX:TEG

Operations Update

Triangle Energy (Global) Ltd (Triangle, or the Company) (ASX:TEG) is pleased to provide a further update on the interruption to production due to a Level 1, low level, oil spill which occurred on Tuesday 24 July 2018 at the Cliff Head Alpha Offshore Platform located approximately 14 kilometres offshore in the Perth Basin, around 300 kilometres north of Perth.

Triangle confirms that after following the requirements in its Oil Pollution Emergency Plan (OPEP) andconducting the required safety and environmental assessments, the Company has stood down its Incident Management Team (IMT).

Triangle's Managing Director, Mr Rob Towner, said the IMT followed strict policies and procedures within its OPEP and after satisfying safety and environmental requirements and finding no evidence of hydrocarbons in the marine environment, the decision to have the IMT stood down was made late in the afternoon of Friday, 27 July 2018.

"Based on our satellite tracking buoy data, trajectory modelling, and in conjunction with the Department of Transport, multiple teams of trained personnel were deployed to cover approximately 20 kilometres of shoreline on foot," Mr Towner said.

"In addition, multiple aerial surveillance flights covered the ocean and shoreline.

"We are pleased to report that after extensive monitoring, no observations of hydrocarbons have been sighted and we have been able to stand down our IMT.

"This reaffirms Triangle's belief that the vast majority of produced fluid remained on the platform itself and any amount which entered the marine environment was negligible and most likely dispursed naturally in the rough seas."

"Production at Cliff Head remains shut-in whilst the appropriate preparations are completed for a restart."

Triangle will continue to liaise with Regulatory Authorities and monitor and assess the situation, as it focuses on operational tasks in order to bring the incident to a satisfactory conclusion.

An update will be provided as more material information becomes available.

ENDS

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 30% 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.

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 6905 Australia T [phone] F [phone]