Triangle Energy Enters Voluntary Administration
Triangle Energy (Global) (ASX:TEG) has entered voluntary administration, appointing Bryan Hughes of 101 Advisory as voluntary administrator for the company and its wholly owned subsidiaries, including Triangle (Perth Basin), Triangle Energy Onshore and Triangle Energy Offshore, according to a Tuesday filing with the Australian bourse.The company's decision follows the voluntary administration of Pilot Energy and Triangle Energy (Operations), amid concerns over its ability to meet potential decommissioning obligations under the Offshore Petroleum and Greenhouse Gas Storage Act 2006, the filing said.The administrator will engage with government regulators, agencies, and creditors to assess available options and maximize outcomes for all stakeholders, the filing added.
