All tagged Pilot Energy ASX:PYG

Pilot Energy - Drilling of Wye Knot-1 exploration well

Pilot Energy (ASX:PGY) has announced that the EP437 JV (with Key Petroleum) has approved the work program and budget for drilling of the Wye Knot-1 exploration well, located in the north Perth Basin. After receipt of a $200,000 Exploration Incentive Scheme grant, the net cost to drill the well is $1.7m. The Triassic target in Wye Knot-1 is estimated to contain a best case (gross) of 1.4MMbbl oil.

Pilot Energy EP416/480 Work program update

Pilot Energy (ASX:PGY) has announced that WADMP has approved a variation to the work program for EP480 in the southern Perth Basin. The new work program of geochemical sampling, advanced geophysical processing and geotechnical studies reflects a commitment of $0.35m, down from the previous requirement for a $1.5m spend. The work program will focus on the large Leschenault gas prospect.

Pilot Energy - Significant Prospective Resources; Leschenault 7-Nov-16

Pilot Energy (ASX:PGY) has confirmed the gas prospectivity of the Leschenault prospect, located between Mandurah and Bunbury in SW Western Australia. The RISC assessment of the prospect estimates the Lesueur Sandstone reservoir could host up to 970 BCF gas while the Sue Sandstone could host up to 625BCF gas. Pilot Energy holds a 60% working interest in the blocks, withEmpire Oil & gas holding the other 40%.

Pilot Energy - Renewal of EP416 Exploration Permit

Oil and gas explorer Pilot Energy (ASX:PGY) has received notice from the Western Australian Department of Mines & Petroleum that Exploration Permit EP416, loacted in the southern Perth Basin, has been renewed for a period of five years. The permit was granted with a requirement to complete geochemical surveying, advanced processing of Falcon airborne geophysical data acquired in 2015 and geological /geophysical studies in the next two years. An optional exploration well is required in year four.

Pilot Energy - NOPTA Approval of WA-481-P Assignment

Pilot Energy (ASX:PGY) has announced that the transfer of WA-481-P has been approved by regulators. As part of the transaction, Pilot will be entitled to credits that cab be used to offset any Petroleum Resource Rent Tax (PRRT) liabilities. Pilot has also announced that Key Petroleum excercised its right to acquire a 40% WI from Pilot as part of the transaction.

Pilot Energy - June 2016 Quarterly Report

Pilot Energy (ASX:PGY) has released its quarterly activities report for the period ending 30 June 2016, summarising the completion of the $3.6 million cornerstone investment and the Company's moves to become the largest net acreage holder in the Perth Basin. The report shows Pilot spent $1.5 million during the quarter on exploration and evaluation and finished the period with $2.055 million in cash.