Cliff Head nearly doubles in size

TRIANGLE Energy has updated its estimates for its offshore Perth Basin oil field after completing new static modelling that has potentially doubled the size of Cliff Head from 15.7 million barrels to 29MMbbl oil-in-place. 

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Triangle finds near field exploration areas

There are five additional areas expected to contain oil, with one trap within the Dongara Sandstone and four more in the Irwin River Coal Measures, adding up to a best estimate of 10.2MMbbl, and a high estimate of 13.5MMbbl. 
 
The extensions are all within tie-back to the existing Cliff Head facilities, and its link to existing infrastructure offers a relatively clear path to development. 
 
There is an estimated 13.3% chance of success of finding oil the Dongara Sandstone and 33.33% from the Irwin River Coal Measures. 
 
"It is intended that OIIP in these discovered reservoirs, along with associated reserve and contingent resource values, will be reported once dynamic modelling i...