{"content":[{"text":"Pilot Energy Ltd \n ABN 86 115229 984 \n Level 12, 225 George Street Sydney, NSW \n 2000, Australia \n T: +61 2 8016 2819 \n www.pilotenergy.com.au","bbox":{"left":0.110966,"top":0.174007,"width":0.367807,"height":0.12343200000000001}},{"text":"Announcement to ASX","bbox":{"left":0.081134,"top":0.337568,"width":0.214932,"height":0.01894499999999999}},{"text":"11 May 2021","bbox":{"left":0.721731,"top":0.337568,"width":0.122139,"height":0.01894499999999999}},{"text":"WA-481-P AND CLIFF HEAD WIND AND SOLAR JV TRANSACTION UPDATE","bbox":{"left":0.081134,"top":0.389605,"width":0.825958,"height":0.02210200000000001}},{"text":"HIGHLIGHTS","bbox":{"left":0.081134,"top":0.426198,"width":0.13147600000000004,"height":0.020523000000000013}},{"text":"•","bbox":{"left":0.103824,"top":0.461793,"width":0.008502999999999997,"height":0.01599499999999998}},{"text":"Pilot and Triangle have executed the joint venture agreements and access deeds formalising the \n WA-481-P upstream joint venture and the Cliff Head Wind and Solar joint venture, the signing of \n which were conditions precedent under the WA-481-P Sale.","bbox":{"left":0.134076,"top":0.460831,"width":0.785415,"height":0.05208400000000002}},{"text":"•","bbox":{"left":0.103824,"top":0.528262,"width":0.008502999999999997,"height":0.01599499999999998}},{"text":"Under the WA-481-P Sale, Triangle acquires a 78.75% interest and is appointed as operator and \n Pilot retains a 21.25% interest in the tenement in return for a $300,000 cash payment and a free \n carrying Pilot over the next 3 years, which includes acquisition and processing of extensive 2D \n and 3D seismic surveys","bbox":{"left":0.134076,"top":0.5273,"width":0.785212,"height":0.069627}},{"text":"•","bbox":{"left":0.103824,"top":0.611977,"width":0.008502999999999997,"height":0.01599499999999998}},{"text":"Under the Cliff Head Wind and Solar joint venture Pilot will hold a 80% interest and is appointed \n as operator and Triangle a 20% interest and Pilot is free carrying Triangle on a renewables \n feasibility study.","bbox":{"left":0.134076,"top":0.611015,"width":0.785456,"height":0.05210800000000004}},{"text":"•","bbox":{"left":0.103824,"top":0.678482,"width":0.008502999999999997,"height":0.01599499999999998}},{"text":"Transaction creates alignment across the oil and gas exploration project (WA-481-P), the adjacent \n oil production project (Cliff Head Oil project) and the renewables joint venture.","bbox":{"left":0.134076,"top":0.677519,"width":0.785486,"height":0.03456499999999996}},{"text":"•","bbox":{"left":0.103824,"top":0.727431,"width":0.008502999999999997,"height":0.01599499999999998}},{"text":"The principle outstanding condition to completion of Pilot’s sale of the interest in WA-481-P and \n transfer of operatorship relate to final regulatory approvals including in relation to the transfer of \n Key Petroleum's interest in WA-481-P to Pilot – once these approvals are received Pilot will receive \n the $300,000 cash payment to Pilot and the work programme free carry will commence.","bbox":{"left":0.134076,"top":0.726469,"width":0.785657,"height":0.06933}},{"text":"Pilot Energy Limited (ASX: PGY) (‘Pilot’ or ‘the Company’) and Triangle Energy (Global) Limited \n (ASX:TEG) (‘Triangle’) are pleased to provide the following update with regard to the WA-481-P \n transaction and Cliff Head Wind and Solar Joint Venture, previously announced to the market on 9 \n November 2021.","bbox":{"left":0.081134,"top":0.810184,"width":0.838462,"height":0.06933}},{"text":"1","bbox":{"left":0.909193,"top":0.923567,"width":0.00996600000000003,"height":0.017365999999999993}}],"images_bbox":[{"left":0.116891,"top":0.093543,"width":0.317143,"height":0.073116}],"images_bbox_not_text_overlap":[{"left":0.116891,"top":0.093543,"width":0.317143,"height":0.073116}]}