Triangle Energy (Global) Limited has announced a significant upgrade to its UK gas resource estimates for Permit P2628 in the West of Shetland area. The joint venture operator, Athena Exploration Limited, has reinterpreted seismic and well data using advanced seismic AVO modelling to better map the gas-bearing Cragganmore field. This reassessment has led to an upward revision of both contingent and prospective gas resources across the permit. For the Cragganmore discovery, the updated contingent resources now range from 499 billion cubic feet up to 929 billion cubic feet on a 100% gross basis, equating to a net interest for Triangle Energy (Global) Limited of between 250 and 465 billion cubic feet. The permit also encompasses seven additional prospects with combined prospective resources estimated between 1058 and 2098 billion cubic feet, with a best case scenario of approximately 1490 billion cubic feet. The estimates, prepared following the PRMS guidelines, include Geological Chance of Success (gCOS) factors that vary from moderate to high across the different prospects. The enhanced resource figures not only highlight the significant hydrocarbon potential in the region but also position Triangle Energy (Global) Limited among the top three companies in terms of net undeveloped gas resources in the Southern North Sea and West of the Shetlands, according to data from Welligence Analytics. The company’s Managing Director, Mr Conrad Todd, emphasized that the findings from the geotechnical and resource review will add considerable value to their asset portfolio, as further studies will assess reservoir quality and deliverability under the ongoing work programme. Bullish sentiment arises from the impressive upgrade in resource estimates that could lead to increased asset value and stronger positioning in a high-potential region. The detailed reassessment underlines the technical robustness of the permit and the promising exploration prospects that could unlock significant future returns for Triangle Energy (Global) Limited investors. On the bearish side, the probabilistic nature of the resources estimates means that caution is warranted. The reported figures, particularly the 1U lower estimates and the optimistic 3U projections, have not yet been risked by full application of the Geological Chance of Success factors. These figures will require further appraisal and evaluation to confirm economic viability, leaving room for potential uncertainties in future development outcomes.