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An update from Pilot Energy Limited ( (AU:PGY) ) is now available.
Pilot Energy Limited has initiated a formal farmout process to seek joint venture partners for its WA-481P exploration permit in the offshore Perth Basin. The permit holds significant gas potential, including the ready-to-drill Leander Gas Prospect, which is estimated to contain 1.1 TCF of gas resources. This strategic move aims to fast-track development and supply the Western Australia domestic gas market, aligning with the growing demand for gas to support renewable energy growth. The company’s recent acquisition of production infrastructure further enhances its ability to quickly commercialize any exploration success.
More about Pilot Energy Limited
Pilot Energy Limited operates in the energy sector, focusing on exploration and development of oil and gas resources. The company holds significant exploration acreage in the offshore North Perth Basin, Western Australia, and is involved in developing gas resources to supply the domestic market.
Average Trading Volume: 6,820,260
Technical Sentiment Signal: Sell
Current Market Cap: A$25.9M
Find detailed analytics on PGY stock on TipRanks’ Stock Analysis page.