Triangle Energy Global : Results of Share Purchase Plan

ASX Announcement

7 October 2020

RESULTS OF SHARE PURCHASE PLAN

The Board of Triangle Energy (Global) Limited (Triangle / the Company) (ASX:TEG) is very pleased to announce the successful completion of its Share Purchase Plan (SPP), which closed on Friday 2 October 2020.

The Company received SPP applications totalling $4,934,000.00 and the Board intends to exercise its absolute discretion in accepting all valid oversubscriptions to the maximum 30% of issued capital threshold allowed under ASX Listing Rule 7.2 Exception 5 and as per the terms and conditions of the Company's SPP. Therefore, the total amount raised as a result of the SPP is $3,906,903.15, representing 130, 230,105 fully paid ordinary shares.

All applications received over and above this threshold will be scaled back on a pro rata basis and the monies refunded to shareholders, again, as outlined in the Company's SPP.

The issue date for the SPP shares will be 13 October 2020. The SPP shares will be issued at $0.03 per share. Holding statements will be dispatched to all applicants.

Net proceeds raised from the SPP will be applied to the workover program for CH6 and CH7, the continued development of the Company's drilling prospects and for general working capital.

The Board wishes to thank all shareholders who participated in the SPP for their overwhelming support of the Company.

Approved for Release by:	Robert E T Towner
	Managing Director
ENDS
Further Enquiries	Mr Robert E T Towner
	Managing Director
	P: [phone]
	E:[e-mail]
General Shareholder Enquiries	[e-mail]
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. Triangle also has a 50% share of the Mt Horner L7 production licence and a 45% 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 100% 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 6872 Australia
T [phone]