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Pilot Energy Limited ( (AU:PGY) ) has issued an update.
Pilot Energy Limited announced the successful placement of $1.805 million in convertible notes to two sophisticated investors, facilitated by Powerhouse Advisory Australia Pty Ltd. This funding is intended to support the ongoing operations of the Cliff Head Oil Field as it transitions into carbon storage, a key component of Pilot’s Mid West Clean Energy Project, enhancing its position in the clean energy sector.
More about Pilot Energy Limited
Pilot Energy Limited is a junior oil and gas exploration and production company focused on diversifying and transitioning into carbon management projects, hydrogen production, and clean ammonia for export to emerging APAC Clean Energy markets. The company plans to convert the Cliff Head Oil Field into Australia’s first offshore CO2 storage project as part of its Mid West Clean Energy Project.
Average Trading Volume: 5,616,997
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$8.27M
For detailed information about PGY stock, go to TipRanks’ Stock Analysis page.
