Pilot Energy Limited (AU:PGY) has released an update.
Triangle Energy Global Ltd is negotiating an extension to the completion date of its sales agreement with Pilot Energy Limited for a 78.75% stake in the Cliff Head Joint Venture, aiming to satisfy regulatory requirements and manage the transition smoothly. The deal, anticipated to be worth up to $15 million over the project’s lifespan, aligns with Triangle’s strategy to concentrate on its core oil and gas ventures in the Perth Basin. This move comes as Triangle approaches an active phase with new well developments projected to commence shortly.
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