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Pilot Energy Limited ( (AU:PGY) ) just unveiled an update.
Triangle Energy has finalized the sale of its Cliff Head onshore assets to Pilot Energy, marking a strategic shift to focus on oil and gas exploration. This transaction allows Pilot to convert the facilities into a carbon dioxide sequestration project, while Triangle benefits from a secured promissory note and potential future payments, enhancing its capacity to pursue new exploration opportunities.
More about Pilot Energy Limited
Triangle Energy (Global) Ltd is an ASX-listed oil and gas explorer based in Perth, Western Australia, with a significant interest in the Cliff Head Oil Field and various other assets in the Perth Basin and the UK. The company focuses on oil and gas exploration and development, seeking to expand its asset portfolio.
Average Trading Volume: 3,310,390
Technical Sentiment Signal: Sell
Current Market Cap: A$15.11M
See more insights into PGY stock on TipRanks’ Stock Analysis page.