Ann: Annual Report to shareholders-TNP.AX, page-3

I think we will do OK in the long run-all looking promising

ASX ANNOUNCEMENT 29 July 2016 by e-lodgement The Directors of Triple Energy Limited (ASX: TNP, Triple or Company) are pleased to provide the following update on activities during and since the quarter to 30 June 2016. Aolong JV Project in Heilongjiang A Joint Venture meeting was held with the State Owned Joint Venture partner, Longmei Coal Mining Company Harbin in late July 2016. As previously advised, two of the Hegang pilot test wells were intended to undergo production testing this year having demonstrated encouraging gas content and reservoir characteristics. This is now not possible due to a recently drilled proximate mine-drive and other infrastructure limitations. However, sufficient data was acquired from the three wells now drilled to progress an understanding for the future options available for the greater Hegang area. The joint venture partners will be taking steps to ensure closer cooperation in the Hegang area to minimize any future development conflicts as well as identifying other project areas suitable for gas production. Moke Project Areas and Other New Ventures The Moke acquisition has been a principal area of focus in the June quarter. Specifically Triple has been engaged with the Shaanxi Province State Owned Enterprise, Shaanmei Coal Mining Company (“Shaanmei”). Shaanmei has extensive coal mining licensed areas in the Hangcheng area. The current objective is to develop a long-term agreement to cover both the Moke coal seam gas project areas as well as other new projects in the Shaanmei licenses for future cooperation. Triple remains focussed on completing this long-term cooperation agreement in the near term. Triple management is also engaged in meaningful discussions with the owners of other already producing asset interests and / or ready-to-develop oil and gas projects in China.