Brief: Triangle Energy (Global)Says Ministry Approved Cliff Head Carbon Capture & Storage Declaration Of Greenhouse Gas Storage Formation

Pilot Energy

14/06/2024 02:35

June 14 (Reuters) - Pilot Energy Ltd  PGY.AX :
    * MINISTRY APPROVED CLIFF HEAD CARBON CAPTURE & STORAGE
DECLARATION OF GREENHOUSE GAS STORAGE FORMATION
    * APPROVAL TRIGGERS SALE OF CO'S 78.75% INTEREST IN CLIFF
HEAD
PROJECT TO PILOT ENERGY
    * UNDER SALE AGREEMENT, CO WILL RECEIVE STAGED PAYMENTS OF
A$7.5M
CASH AND UP TO A$7.5M IN ROYALTIES
    * CONSIDERATION TO BE PAID BY PILOT TO TRIANGLE IS EXPECTED
TO
TOTAL UP TO A$15 MILLION OVER CCS PROJECT LIFE

Further company coverage:  PGY.AX 

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