Pilot Energy Limited (AU:PGY) has released an update.
Pilot Energy Limited has issued over 181 million new shares and approximately 55 million options without prior disclosure to investors, under specific provisions of the Corporations Act. The company is advancing its Mid West Clean Energy Project, including the innovative transition of the Cliff Head oil project into a carbon storage solution, and is also negotiating funding and partnerships to support the development of this initiative. Amidst these developments, they are also managing a decline in oil production and exploring various funding avenues, including government grants and private partnerships.
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