Australia: Key Petroleum sells 50 percent interest in L7 and 86.94 percent interest in EP 437, onshore Perth Basin, to Triangle Energy 28 Jan 2021 Triangle Energy to sell to Triangle Key Petroleum's 50% participating interest in Production Licence L7(R1) and Key Petroleum and Key Midwest’s combined 86.94% interest in Exploration Permit EP 437. A wholly owned subsidiary of Triangle will hold the relevant interests acquired under the Agreement. Summary of the key terms of the Agreement and Royalty Deed Completion of the Agreement is conditional on usual regulatory approvals, execution of a deed of covenant in respect of the EP 437 JOA, Triangle receiving binding commitments for a capital raising of at least $1,000,000 and, if required, Key obtaining the approval of its shareholders under Chapter 11 of the ASX Listing Rules for the Key subsidiaries to sell its interests in these assets. Under the terms of the Agreement: