Pilot Energy Limited (AU:PGY) has released an update.
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Pilot Energy Limited has raised $2 million through convertible notes from sophisticated investors to fund the acquisition of the Cliff Head Oil Field and transition its operations to carbon storage as part of its Mid West Clean Energy Project. This strategic move aligns with Pilot’s goal to diversify into carbon management and clean energy markets. The funding is contingent on a forthcoming general meeting and aims to leverage existing oil and gas infrastructure for clean energy initiatives.
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