Pilot Energy Limited ( (AU:PGY) ) just unveiled an update.
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.
More about Pilot Energy Limited
Pilot Energy Limited operates in the energy sector, focusing on oil and gas exploration and production. The company is involved in projects such as the Cliff Head Oil Project and the Mid-West Clean Energy Project, with a significant presence in the Perth Basin and the Western Australia gas market.
Average Trading Volume: 3,310,390
Technical Sentiment Signal: Buy
Current Market Cap: A$8.27M
Learn more about PGY stock on TipRanks’ Stock Analysis page.