Latest Pilot Energy (ASX:PGY) News

Pilot Energy reports significant progress in transitioning the Cliff Head Oil Field to a carbon storage facility, alongside a major upgrade in WA-481P gas and oil prospective resources and a $6.8 million capital raise.

Pilot Energy has secured a $1.5 million debt note to bolster cash flow ahead of a substantial $4.5 million Petroleum Resource Rent Tax refund linked to the decommissioning of the Cliff Head Oil Field.

Pilot Energy has initiated a formal farmout process to attract partners for its offshore Perth Basin permit WA-481P, featuring the ready-to-drill Leander Gas Prospect with 1.1 trillion cubic feet of prospective gas resources.

Pilot Energy has issued $600,000 in convertible notes under a previously approved $1.8 million facility with Discovery Investments, correcting a minor contractual reference without altering terms.

Pilot Energy has completed the first stage of acquiring full ownership of the Cliff Head Oil Joint Venture assets, positioning itself to advance a pioneering carbon capture and storage project with new international partners.

Pilot Energy has locked in a $1.8 million convertible note funding deal led by Discovery Investments, fueling its transition from oil production to carbon storage at the Cliff Head site. The funding hinges on upcoming shareholder approval and replaces a previously stalled arrangement.

Pilot Energy confirms regulatory compliance and operational progress at the Head Field, advancing the repurposing of Cliff Oil infrastructure into a carbon storage facility as part of the Mid West Clean Energy Project.

Pilot Energy has significantly upgraded its WA-481P gas and oil prospective resources, completed a board renewal, and secured $7.4 million in capital, while progressing the acquisition of the Cliff Head Oil Joint Venture and attracting foreign investment interest in its carbon storage project.

Pilot Energy Limited has announced a substantial 58% increase in the carbon storage capacity of its Cliff Head project, alongside securing $6.3 million in capital and advancing a joint venture for Direct Air Capture technology.