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Pilot Energy Limited ( (AU:PGY) ) has shared an update.
Pilot Energy Limited has sold an option to lease a solar development site to Strike Energy Limited, which is adjacent to Strike’s South Erregulla Peaking Power project transmission corridor. The sale was influenced by the Commonwealth Government’s exclusion of blue hydrogen from the Hydrogen Production Tax Incentive, reducing the site’s importance for Pilot’s Mid West Clean Energy Project.
The most recent analyst rating on (AU:PGY) stock is a Sell with a A$0.01 price target. To see the full list of analyst forecasts on Pilot Energy Limited stock, see the AU:PGY Stock Forecast page.
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 and the production of hydrogen and clean ammonia for export to emerging APAC Clean Energy markets. The company plans to leverage its existing oil and gas operations to develop Australia’s first offshore CO2 Storage Project by converting the Cliff Head Oil field and infrastructure from oil production to CO2 Storage as part of the Mid West Clean Energy Project.
Technical Sentiment Signal: Sell
Current Market Cap: A$8.63M
Learn more about PGY stock on TipRanks’ Stock Analysis page.