Australia's Triangle Energy climbs on strong oil sales from JV project
08/06/2022 06:37
** Shares of oil producer Triangle Energy TEG.AX rise as
much as 21.4% to A$0.017, mark their biggest intraday pct gain
since Feb. 14
** Co says its 78.75%-owned Cliff Head oil field will
receive a total income of about A$21.3 mln ($15.3 mln) from oil
sales in May urn:newsml:reuters.com:*:nGLF9sc2wR
** Co's share of the total income amounts to A$16.8 mln
** Co's Cliff Head joint venture partner Pilot Energy
PGY.AX will receive A$4.5 mln from the sales
** PGY shares rise as much as 21.1% to A$0.023, their
highest since May 12
** TEG shares hit their highest since April 20
** More than 39.5 TEG mln shares change hands, 7.1 times the
30-day average of 5.6 mln shares
** As of last close, TEG stock up 7.7% this year
($1 = 1.3893 Australian dollars)
(Reporting by Himanshi Akhand in Bengaluru)
((Himanshi.Akhand@thomsonreuters.com;))