Pilot Energy Limited (AU:PGY) has released an update.
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Pilot Energy Limited has agreed to revised terms with Triangle Energy for acquiring Triangle’s stake in the Cliff Head Oil Field Production License. This acquisition supports Pilot’s development of the Cliff Head Carbon Storage Project and involves a total payment of $5.75 million by mid-2025. Becoming the full owner of the production license, Pilot aims to transition towards carbon management and clean energy projects.
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