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Pilot Energy Limited ( (AU:PGY) ) has shared an update.
Pilot Energy Limited has made significant strides in transitioning its operations at the Cliff Head Oil Field towards carbon storage, while maintaining regulatory compliance for potential decommissioning. The company has increased its prospective resources in WA-481P and secured a PRRT tax refund, enhancing liquidity for its Mid West Clean Energy Project. Additionally, Pilot has completed the first stage of acquiring the Cliff Head JV assets and received a proposal from a foreign enterprise for a minority interest in its carbon storage project. The company also raised $6.8 million in capital to support its operations and strategic initiatives.
More about Pilot Energy Limited
Pilot Energy Limited operates in the energy sector, focusing on transitioning traditional oil operations into sustainable energy projects. The company is involved in carbon storage and clean energy initiatives, with a significant focus on the Cliff Head Oil Field and related projects.
Average Trading Volume: 6,974,291
Technical Sentiment Signal: Sell
Current Market Cap: A$21.59M
For a thorough assessment of PGY stock, go to TipRanks’ Stock Analysis page.