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Pilot increases interest in WA 481P

Cliff head oil field and platform

Pilot Energy has increased its interest in the WA 481P exploration permit to 100 per cent.

The company already held the majority of interest in the permit, but the National Offshore petroleum Tenures Administrator (NOPTA) approved Pilot’s acquisition of the remaining 40 per cent interest that was previously held by Key Petroleum. This makes Pilot the 100 per cent owner and operator of the permit, with full control over petroleum exploration programs within the permit zone.

The permit covers a large offshore area extending across the Northern Perth Basin, wherein numerous gas and oil reservoirs have been found – including the Frankland gas and the Dunsborough oil discoveries.

Both 3D and 2d seismic data have confirmed the presence of oil and gas within the permit zone. The results of the Mid West Integrated Renewables and Hydrogen Project feasibility studies were also promising, revealing carbon capture and storage potential within several areas.

Pilot has already identified its priority targets for future exploration. They include the Cliff Head South (near the Cliff Head oil field), and the Leander Reef.

Following the completion of these studies and the acquisition of their permit, the company expects that the process of seeking further approval from NOPTA to have the Cliff Head Oil Field reservoir declared a Greenhouse Gas Storage Formation will be swift. Pilot will also be seeking to retain thee Frankland Gas Discovery in the WA481P license.

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