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Pilot Energy Limited (AU:PGY)
ASX:PGY
Australian Market

Pilot Energy Limited (PGY) AI Stock Analysis

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AU

Pilot Energy Limited

(Sydney:PGY)

Rating:39Underperform
Price Target:
Pilot Energy Limited's stock score reflects substantial financial and operational challenges. The company's negative profitability, high leverage, and weak cash flow position are significant concerns. Technical indicators suggest bearish momentum, and poor valuation metrics further weigh on the stock's attractiveness. While there is some revenue growth, it is overshadowed by overall financial instability.

Pilot Energy Limited (PGY) vs. iShares MSCI Australia ETF (EWA)

Pilot Energy Limited Business Overview & Revenue Model

Company DescriptionPilot Energy Limited engages in the acquisition, exploration, and development of conventional oil and gas assets in Australia. It holds 100% working interests in EP416 and EP480 exploration permits located in southern Perth basin; a 21.25% working interest in WA-481 exploration permit; and a 13.058% working interest in the EP437 situated in the northern Perth basin. The company also holds a 60% working interest in the WA-481-P exploration permit located in Perth basin. In addition, it focuses on blue hydrogen and renewables projects. The company was formerly known as Rampart Energy Ltd and changed its name to Pilot Energy Limited in May 2013. Pilot Energy Limited was incorporated in 1998 and is based in Bondi Junction, Australia.
How the Company Makes MoneyPilot Energy Limited generates revenue through the exploration and production of oil and gas resources. The company earns money by selling crude oil and natural gas extracted from its developed fields. Additionally, Pilot Energy is diversifying its revenue streams by investing in renewable energy projects. The company's revenue model is supported by strategic partnerships and joint ventures with other energy firms, which help to mitigate risks and share the capital burden of exploration and development activities. These collaborations play a crucial role in accessing new markets and enhancing the company's overall profitability.

Pilot Energy Limited Financial Statement Overview

Summary
Pilot Energy Limited faces significant financial challenges. Although there is some revenue growth, profitability is deteriorating with negative EBIT and EBITDA margins. The balance sheet shows high leverage risks, and cash flow struggles are evident with consistently negative operating and free cash flows.
Income Statement
30
Negative
Pilot Energy Limited shows a volatile revenue trend with minor growth from 2023 to 2024. The company maintains a consistent gross profit margin, but negative EBIT and EBITDA margins indicate operational challenges. A widening net loss margin suggests deteriorating profitability.
Balance Sheet
45
Neutral
The balance sheet reveals increasing stockholders' equity, but a high debt-to-equity ratio highlights significant leverage. The equity ratio shows a reasonable portion of assets funded by equity. Overall, the balance sheet suggests moderate stability with potential leverage risks.
Cash Flow
35
Negative
Operating cash flows remain negative, reflecting ongoing struggles to convert revenue into cash. Free cash flow is consistently negative, indicating cash outflows exceed inflows. Despite positive financing cash flows, the company faces cash flow challenges.
BreakdownSep 2024Sep 2023Sep 2022Sep 2021Sep 2020
Income Statement
Total Revenue434.04K394.30K350.15K251.49K355.61K
Gross Profit434.04K421.08K425.76K313.15K340.88K
EBITDA-5.39M-4.25M-3.33M-3.17M-1.21M
Net Income-4.82M-4.19M-2.71M-3.83M-889.39K
Balance Sheet
Total Assets23.52M15.99M12.26M11.99M158.99K
Cash, Cash Equivalents and Short-Term Investments3.80M1.66M2.02M5.46M7.32K
Total Debt5.87M3.05M250.91K34.08K120.86K
Total Liabilities8.46M3.95M1.81M920.27K1.31M
Stockholders Equity15.05M12.04M10.45M11.07M-1.16M
Cash Flow
Free Cash Flow-5.40M-5.04M-3.24M-4.11M-223.85K
Operating Cash Flow-3.90M-2.79M-2.63M-3.19M-223.85K
Investing Cash Flow-3.87M-4.79M-2.40M-973.96K0.00
Financing Cash Flow9.92M7.22M1.59M9.61M142.50K

Pilot Energy Limited Peers Comparison

Overall Rating
UnderperformOutperform
Sector (52)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
52
Neutral
C$2.90B-1.03-3.46%6.07%3.01%-47.13%
AUPGY
39
Underperform
AU$19.43M-45.97%0.69%-30.00%
$10.99M-71.83%
$11.71M-65.98%
$11.73M-21.37%
$12.53M-2.53%738.46%
DEKIO
€9.58M-7.71%19.31%
* Energy Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU:PGY
Pilot Energy Limited
0.01
-0.01
-50.00%
ADXRF
ADX Energy
0.02
-0.03
-60.00%
BRNGF
Buru Energy Limited
0.02
-0.04
-66.67%
GVLMF
Greenvale Mining
0.02
-0.03
-60.00%
OTTEF
Otto Energy Limited
0.02
0.00
0.00%
DE:KIO
Fitzroy River Corp. Ltd.
0.07
0.01
16.67%

Pilot Energy Limited Corporate Events

Pilot Energy Secures $600,000 in Convertible Notes for Clean Energy Transition
Jul 2, 2025

Pilot Energy Limited has issued $600,000 in convertible notes to sophisticated investors as part of a $1.8 million facility with Discovery Investments Pty Ltd. This move, approved by shareholders, included correcting an unintended reference in the facility agreement. The issuance of these notes underlines Pilot’s strategic financial maneuvers to support its transition towards clean energy projects, potentially impacting its market positioning and stakeholder interests.

Pilot Energy Completes Initial Stage of Cliff Head JV Acquisition, Paving Way for Carbon Storage Project
Jun 24, 2025

Pilot Energy Limited has completed the first stage of acquiring the Cliff Head Oil Joint Venture from Triangle Energy, gaining full ownership of onshore assets and facilities. This acquisition marks a significant milestone for Pilot as it facilitates the entry of new joint venture partners into the Cliff Head Carbon Storage Project, positioning the company to capitalize on the growing carbon storage market. The company is in discussions with a consortium of Korean companies and a foreign state-owned enterprise to participate in the project, enhancing its strategic positioning in the carbon capture and storage industry.

Triangle Energy Sells Cliff Head Assets to Pilot Energy
Jun 23, 2025

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.

Pilot Energy Corrects Director’s Interest Date in ASX Resubmission
Jun 20, 2025

Pilot Energy Limited announced the resubmission of four Appendix 3Ys due to an administrative oversight regarding the date of change for Director’s Interests. The corrected date for the issuance of securities to directors is 11 June 2025. This announcement highlights Pilot’s commitment to accurate reporting and transparency, which is crucial for maintaining stakeholder trust and aligning with regulatory requirements.

Pilot Energy Director Increases Stake with Major Share Acquisition
Jun 16, 2025

Pilot Energy Limited announced a significant change in the interest holdings of its director, Gregory Columbus. On June 4, 2025, Columbus acquired 25,000,000 fully paid ordinary shares and 25,000,000 listed options, reflecting a strategic move to strengthen his stake in the company. This development could potentially impact the company’s market position and shareholder dynamics, as it indicates increased confidence in the company’s future prospects.

Pilot Energy Director Increases Stake
Jun 13, 2025

Pilot Energy Limited announced a change in the director’s interest, with Bradley Lingo acquiring 500,000 fully paid ordinary shares and 500,000 listed options. This change reflects an increase in the director’s stake in the company, potentially indicating confidence in the company’s future prospects.

Pilot Energy Limited Announces Director’s Interest Change
Jun 13, 2025

Pilot Energy Limited has announced a change in the director’s interest, specifically involving Natalie Wallace. The change involves the acquisition of 5,000,000 fully paid ordinary shares and 5,000,000 listed options by the NRW Superannuation Fund, of which Natalie Wallace is a beneficiary. This transaction, conducted at $0.01 per ordinary share, reflects an adjustment in the director’s indirect interest in the company, potentially impacting the company’s governance and shareholder dynamics.

Pilot Energy Director Increases Stake
Jun 13, 2025

Pilot Energy Limited announced a change in the director’s interest, with Alexander Sundich acquiring an additional 15,000,000 fully paid ordinary shares and 15,000,000 options. This acquisition, executed under Listing Rule 10.11, increases Sundich’s holdings significantly, potentially impacting the company’s governance and strategic direction.

Pilot Energy Limited Releases Interim Financial Report for Half-Year Ending March 2025
Jun 13, 2025

Pilot Energy Limited has released its interim financial report for the half-year ending March 31, 2025. The report includes consolidated financial statements and declarations from directors, highlighting the company’s financial performance and position. This release provides stakeholders with insights into the company’s financial health and operational outcomes for the period, which could influence future business strategies and investor decisions.

Pilot Energy Closes Offer Under Prospectus, Advances Clean Energy Transition
Jun 12, 2025

Pilot Energy Limited announced the closure of an offer under a Prospectus filed with the ASX, which was intended to facilitate the secondary trading of certain securities without disclosure under the Corporations Act. This move marks a significant step in Pilot’s transition towards clean energy projects, potentially impacting its operations and positioning within the industry.

Pilot Energy Limited Announces Quotation of New Securities
Jun 11, 2025

Pilot Energy Limited has announced the quotation of 175,585,000 ordinary fully paid securities and 500,000,000 options expiring in December 2026. This move is part of previously announced transactions and is expected to enhance the company’s market presence and provide additional capital for its ongoing projects.

Pilot Energy Secures Shareholder Support for Strategic Initiatives
Jun 4, 2025

Pilot Energy Limited announced that all resolutions were passed at their Extraordinary General Meeting, indicating strong shareholder support for the company’s strategic initiatives. This development is a positive step for Pilot Energy as it continues to diversify its operations and strengthen its position in the clean energy sector.

Pilot Energy Proposes Convertible Notes Issuance at Upcoming Meeting
May 21, 2025

Pilot Energy Limited has announced an additional resolution to be considered at its upcoming General Meeting of Shareholders. The resolution seeks approval for the issuance of convertible notes to Discovery Investments Pty Ltd and a group of sophisticated investors, with a total face value of up to $1.8 million. This move is aimed at raising capital through convertible notes, which can be converted into shares, potentially impacting the company’s financial structure and shareholder composition.

Pilot Energy Limited Announces Proposed Issue of Convertible Notes
May 13, 2025

Pilot Energy Limited announced a proposed issue of securities, specifically convertible notes, with a planned issue date of June 11, 2025. This move is part of the company’s strategic efforts to raise capital, which could impact its operational capabilities and market positioning by potentially increasing its financial resources for future projects.

Pilot Energy Secures $1.8 Million Convertible Note Funding for Clean Energy Transition
May 12, 2025

Pilot Energy Limited has secured a convertible note funding arrangement worth up to $1.8 million with a syndicate of sophisticated investors led by Discovery Investments Pty Ltd. This funding will support the company’s transition of the Cliff Head facilities from oil production to carbon injection and storage, a key component of its flagship Mid West Clean Energy Project. The agreement replaces a previous funding arrangement with 1Stock Limited, which failed to materialize, and highlights Pilot’s ongoing efforts to diversify and transition its operations towards clean energy solutions.

Pilot Energy Limited Announces General Meeting for Shareholders
May 6, 2025

Pilot Energy Limited has announced a General Meeting for its shareholders, scheduled for June 4, 2025, at RSM Australia’s offices in Perth. This meeting is crucial as it impacts shareholder interests, and the company encourages participation either in person or via proxy. Shareholders are invited to submit questions in advance to ensure a comprehensive discussion, although not all queries may be addressed during the meeting.

Pilot Energy Advances Cliff Head Operations and Carbon Storage Plans
May 1, 2025

Pilot Energy Limited has successfully completed key maintenance and operational activities at the Cliff Head Oil Field, as mandated by NOPSEMA’s General Directive 1947. These efforts include securing wells, facilities, and pipelines, as well as conducting extensive inspections and marine growth removal. The company is also progressing towards repurposing the site for carbon storage, indicating a strategic shift in operations to capture new revenue streams and ensure regulatory compliance. This transition may enhance Pilot’s industry positioning by aligning with sustainable energy practices, potentially impacting stakeholders by opening new business opportunities.

Pilot Energy Expands Resources and Secures Strategic Partnerships
Apr 30, 2025

Pilot Energy Limited has announced significant developments in its operations, including a board renewal with the appointment of new directors and a major increase in prospective resources at the WA-481P permit. The company has also revised acquisition terms for the Cliff Head Oil Joint Venture and completed a $7.4 million capital raising. Additionally, Pilot received a proposal from a foreign enterprise to acquire a minority interest in its Cliff Head Carbon Storage Project, indicating potential strategic partnerships.

Pilot Energy Limited Announces Quotation of New Securities
Apr 24, 2025

Pilot Energy Limited has announced the application for the quotation of 324,415,003 ordinary fully paid securities on the Australian Securities Exchange (ASX), effective April 24, 2025. This move is part of a previously announced transaction, potentially impacting the company’s market positioning by increasing its capital base and enhancing its ability to fund future projects.

Pilot Energy Limited Issues Cleansing Prospectus for New Shares and Options
Apr 16, 2025

Pilot Energy Limited has issued a Cleansing Prospectus to offer 10,000 new shares at $0.01 each and 10,000 new options with an exercise price of $0.033, expiring in December 2026. This offer is aimed at removing trading restrictions on certain securities issued prior to the applicable closing date. The shares and options are considered speculative, and the offer is only available to invitees determined by the company’s directors. The prospectus is a transaction-specific document in accordance with the Corporations Act, and investors are advised to consult professional advisers before participating.

Pilot Energy Secures $5 Million for Strategic Initiatives
Apr 16, 2025

Pilot Energy Limited announced a successful capital raising of A$5.0 million through a placement to sophisticated, professional, and institutional investors, at a 100% premium to the last traded price. The funds will support corporate activities, including the Cliff Head Oil Project and other initiatives, as well as closing a transaction with a Korean consortium. The company has also restructured its arrangements with Triangle Energy and announced a resource upgrade in its WA-481-P permit, highlighting its potential in the energy sector.

Pilot Energy Limited Announces Major Securities Issuance
Apr 14, 2025

Pilot Energy Limited has announced a proposed issue of securities, involving the issuance of up to 500 million ordinary fully paid shares and 500 million options expiring in December 2026. This strategic move is expected to bolster the company’s financial standing and potentially enhance its market positioning, providing stakeholders with new investment opportunities.

Pilot Energy Unveils Future Carbon Storage Project
Apr 14, 2025

Pilot Energy Limited has released a corporate presentation outlining its future Cliff Head Carbon Storage Project. This initiative highlights the company’s strategic focus on carbon storage, which could significantly impact its operations and industry positioning by addressing environmental concerns and potentially offering new avenues for growth. The project underscores Pilot’s commitment to sustainability and innovation in the energy sector.

Pilot Energy Clarifies WA-481-P Gas Resource Announcement
Apr 10, 2025

Pilot Energy Limited has issued a clarification announcement regarding its previous statement on the WA-481-P Gas Resource. The company has provided additional details to comply with ASX requirements, including clarifications on contingent resources and resource categories. These updates are intended to ensure transparency and accuracy in the reporting of their resource estimates, potentially impacting stakeholder confidence and the company’s market positioning.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Apr 22, 2025