An update from Pilot Energy Limited ( (AU:PGY) ) is now available.
Pilot Energy Limited has requested an extension of its voluntary suspension from trading on the ASX as it continues negotiations to secure funding for the acquisition and transition of the Cliff Head project into a carbon storage operation. The company is in discussions with investors and has engaged Alpine Capital to manage a capital raise of $7.0 to $8.0 million, which is crucial for completing the acquisition and meeting regulatory compliance costs. The outcome of these negotiations is vital for Pilot Energy’s operational viability and strategic shift towards carbon storage.
More about Pilot Energy Limited
Pilot Energy Limited operates in the energy sector, focusing on transitioning traditional oil and gas projects into carbon storage operations. The company is currently involved in the acquisition and transformation of the Cliff Head project, aiming to leverage carbon storage as a future growth area.
Average Trading Volume: 4,124,691
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$8.27M
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