Pilot Energy (ASX: $PGY) Announcement

Pilot Energy Limited (ASX: $PGY) has entered into an At-The-Market Subscription Agreement (ATM) with Dolphin Corporate Investments, securing up to $7,500,000 of standby equity capital over the next 3 years. The agreement provides Pilot with a cost-effective and flexible funding option, allowing the Company to control the timing of capital issuances with minimal dilution.

Executive Commentary on the ATM

Pilot is pleased to be putting this stand-by facility in place to assist in managing the financial commitments for the acquisition of the Cliff Head Oil Project assets and the associated on-going operating costs while the Company is negotiating the entry of joint venture partners to buy into and contribute to the development of the Mid West Clean Energy Project. One of the significant investors in Pilot suggested that the Company should look at putting an ATM facility in place to compliment other funding options used in the past and recommended Dolphin as being an excellent provider for this type of facility.

Summary of Pilot Energy (ASX: $PGY) Announcement

Pilot Energy Limited (ASX: $PGY) has secured a stand-by equity capital of up to $7,500,000 over the next 3 years through an At-The-Market Subscription Agreement (ATM) with Dolphin Corporate Investments. This agreement provides Pilot with a flexible funding option, allowing the Company to control the timing of capital issuances with minimal dilution. The Chairman/Executive Director, Brad Lingo, expressed the Company's pleasure in putting this stand-by facility in place to manage financial commitments for the acquisition of the Cliff Head Oil Project assets and the associated ongoing operating costs. Pilot aims to negotiate the entry of joint venture partners to contribute to the development of the Mid West Clean Energy Project. The Company's transition to the development of carbon management services and integrated clean energy projects is supported by leveraging its existing oil and gas tenements and infrastructure. Dolphin Corporate Investments, the provider of the ATM facility, is known for providing secure, transparent, and cost-effective At-The-Market offerings to ASX listed companies.