Pilot Energy Refines Acquisition Deal with Triangle Energy

Triangle Energy (Global) Limited (AU:TEG) has released an update.

Pilot Energy Limited is set to acquire full ownership of the Cliff Head Joint Venture from Triangle Energy, with revised terms providing for extended completion dates and payment schedules. An initial non-refundable payment of $400,000 for assets and $2,000,000 for operating costs will be made by Pilot on 18 October 2024, after which they will control the venture’s operating entity. The deal’s final payments, with interest, are due by 29 November 2024, with an option for a one-month extension.

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