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Pilot Energy Ltd (ASX: PGY) is an emerging junior oil & gas exploration company that is implementing a low-cost, counter-cyclical strategy to develop a portfolio of high quality conventional oil and gas exploration assets.
The Company’s aggressive new ventures program has rapidly resulted in acquisition of material working interests, with a peer-leading prospective resources position across six exploration permits, located offshore and onshore Western Australia. Key to Pilot Energy’s strategy is minimisation of project entry cost and work commitments, while allowing sufficient time to add value through desktop studies prior to seeking farmin partners to fund seismic and/or drilling.
Pilot Energy works closely with industry partners such as seismic contractors in order to develop creative pricing models for services that help to minimise the Company’s upfront cash investment.
The current industry environment provides excellent conditions for Pilot Energy to implement its strategy, laying the foundations for growth as a leading Australian junior E&P company.