Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Pilot Energy Limited ( (AU:PGY) ) has provided an update.
Pilot Energy Limited has secured a convertible note funding arrangement worth up to $1.8 million with a syndicate of sophisticated investors led by Discovery Investments Pty Ltd. This funding will support the company’s transition of the Cliff Head facilities from oil production to carbon injection and storage, a key component of its flagship Mid West Clean Energy Project. The agreement replaces a previous funding arrangement with 1Stock Limited, which failed to materialize, and highlights Pilot’s ongoing efforts to diversify and transition its operations towards clean energy solutions.
More about Pilot Energy Limited
Pilot Energy Limited is a junior oil and gas exploration and production company focused on transitioning to carbon management projects, hydrogen production, and clean ammonia for export to emerging APAC Clean Energy markets. The company aims to leverage its existing oil and gas operations to develop Australia’s first offshore CO2 Storage Project as part of its Mid West Clean Energy Project.
Average Trading Volume: 3,310,390
Technical Sentiment Signal: Sell
Current Market Cap: A$13.88M
For detailed information about PGY stock, go to TipRanks’ Stock Analysis page.