TRIPLE ENERGY LIMITED
Triple Energy Limited ("Triple Energy") is an oil gas company listed on the Australian Securities Exchange (ASX) (listing code "TNP").
The Company strategy is to invest in oil and gas projects in both the conventional and unconventional (coal seam gas and shale oil and gas) sectors, along with power generation where and if appropriate.
DAQING BASIN - CHINA
In 2013 the Company acquired an 80% Joint Venture ("JV") interest in a coalmine gas project in the Heilongjiang province of the People’s Republic of China (“PRC”). The JV is in cooperation with a large with a Chinese State Owned Enterprise coal miner. Since then TNP has drilled three wells in the first of four JV areas, of which two demonstrated reasonably good gas readings. Under the JV agreement, TNP has rights to up to four other coal bed methane areas in the Heilongjiang Province in PRC, including the Jixi area where 5 x CBM wells have already been drilled with good success.
ORDOS BASIN - CHINA
In October 2015 the Company announced its intention to acquire a further coal bed methane acreage projects in the Ordos Basin of Shaanxi Province in PRC. This transaction is progressing with an expectation of closing in the near future.