PILOT ENERGY LIMITED Transitioning to Clean Energy for the Mid West
Mid West Clean Energy Projects Feasibility Results
March 2022
PILOT ENERGY LIMITED ASX:PGY
Compliance Statements
Disclaimer
This investor presentation has been prepared by Pilot Energy Limited ABN 86 115 229 984 (Pilot or the Company).
Any material used in this presentation is only an overview and summary of certain data selected by the management of Pilot. The presentation does not purport to contain all the information that a prospective investor may require in evaluating a possible investment in Pilot nor does it contain all the information which would be required in a disclosure document prepared in accordance with the requirements of the Corporations Act and should not be used in isolation as a basis to invest in Pilot. Recipients of this presentation must make their own independent investigations, consideration and evaluation of Pilot. Pilot recommends that potential investors consult their professional advisor/s as an investment in Pilot is considered to be speculative in nature.
This presentation contains "forward looking statements" concerning the financial condition, results of operations and business of Pilot. All statements other than statements of fact or aspirational statements, are or may be deemed to be "forward looking statements". Often, but not always, forward looking statements can generally be identified by the use of forward looking words such as "may", "will", "expect", "intend", "plan", "estimate", "anticipate", "continue", "outlook", and "guidance", or other similar words & may include, without limitation, statements regarding plans, strategies and objectives of management, future or anticipated production or construction commencement dates and expected costs, resources or reserves, exploration results or production outputs.
Assumptions and Forward Looking Statements
Forward looking statements are statements of future expectations that are based on management's current expectations and assumptions, known and unknown risks and uncertainties that could cause the actual results, performance or events to differ materially from those expressed or implied in these statements. These risks include, but are not limited to price fluctuations, actual demand, currency fluctuations, drilling and production results, commercialisation reserve estimates, loss of market, industry competition, environmental risks, physical risks, legislative, fiscal and regulatory developments, economic and financial market conditions in various countries and regions, political risks, project delay or advancement, approvals and cost estimates.
Statements in this presentation are made only as of the date of this presentation unless otherwise stated & the information in this presentation remains subject to change without notice. Reliance should not be placed on information or opinions contained in this presentation. To the maximum extent permitted by law, Pilot disclaims any responsibility to inform any recipient of this presentation on any matter that subsequently comes to its notice which may affect any of the information contained in this document and presentation and undertakes no obligation to provide any additional or updated information whether as a result of new information, future events or results or otherwise.
No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions or conclusions contained in or derived from this presentation or any omission from this presentation or of any other written or oral information or opinions provided now or in the future to any person. To the maximum extent permitted by law, neither Pilot nor, any affiliates, related bodies corporate and their respective officers, directors, employees, advisors and agents (Relevant Parties), nor any other person, accepts any liability as to or in relation to the accuracy or completeness of the information, statements, opinions or matters (express or implied) arising out of, contained in or derived from this presentation or any omission from this presentation or of any other written or oral information or opinions provided now or in the future to any person
Competent Persons Statement
This announcement contains information on conventional petroleum and carbon storage resources which is based on and fairly represents information and supporting documentation reviewed by Dr Xingjin Wang, a Petroleum Engineer with over 30 years' experience and a Master in Petroleum Engineering from the University of New South Wales and a PhD in applied Geology from the University of New South Wales. Dr Wang is an active member of the SPE and PESA and is qualified in accordance with ASX listing rule 5.1. He is a former Director of Pilot Energy Ltd and has consented to the inclusion of this information in the form and context to which it appears.
Authorisation
This presentation has been authorized by the Chairman and Managing Director on behalf of the Board of Directors of Pilot Energy Limited
Mid West WSP Feasibility Study Reporting Conditions
Pilot has agreed the following conditions with the ASX in relation to the Mid West WSP feasibility study:
1. The Company must continue to spend funds on its existing and proposed oil and gas projects.
2. The Company must disclose in each quarterly activities report until September 2022, the proportion of expenditure incurred in relation to exploration and evaluation on the oil and gas projects and the Mid West Wind and Solar Project.
3. The Company must disclose as separate line items in each quarterly activities report until September 2022, expenditure incurred in relation to exploration and evaluation on the oil and gas projects and the Mid West Wind and Solar Project.
4. Proceeding beyond the feasibility study stage of the Project (or incurring expenditure in excess of the budgeted feasibility expenditure in relation to the Project) constitutes a change in the nature and scale of the Company's activities in terms of Listing Rule 11.1 and as such the Company will be required to comply with all of the requirements of Chapters 1 and 2 of the Listing Rules before it proceeds beyond the feasibility study or incurs expenditures in excess of the budgeted feasibility expenditure on the Project.
Pilot - Leading the Clean Energy Transition
Leveraging existing oil and gas assets along with established infrastructure to develop competitive clean energy projects
Image credit for Oil Rig and Offshore Windfarms: Jan Arne Wold - Copyright - Equinor - Dudgeon Offshore Wind Farm 22 August 2017
Blue hydrogen & renewable projects
Tier 1 renewableenergy resources
Western Australia
N
Bunbury
ASX Code: PGY | |
Capital Structure
| 504.4 million ~$0.048 ~$24 million |
Oil & Gas Reserves & Resources (Existing)
| - ~3,800,000 BOE |
Carbon Capture & Storage Resources (Existing)
Pilot at a Glance
• 2C Contingent Resources,3 (Gross)
10.8 million tonnes
| 80.4 million tonnes |
Mid West Clean Energy Project Development Pipeline (under development)
| ~500,000 tpa ~43,000 tpa Up to 345,000 tpa |
Up to 345,000 tpa
Share price
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9/24/21
1. Approximately 300,000boe associated with the Cliff Head project remains under review and may be reclassified as reserves subject to the finalisation of new oil offtake arrangements
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2. Refer to PGY ASX announcement 23 April 2021 titled "Resources Update" and refer to Independent Technical Specialist Report Pilot Energy Ltd - Australian Exploration Assets January 2021 (28 May 2021 General meeting Notice of Meeting: Independent Expert Report
3. Refer to PGY ASX announcement 28 March 2022 titled "Completion of Renewable Energy and Hydrogen Technology Feasibility Studies" - Annexure A: Mid West CCS Resource Potential
Proven, Experienced Board
Brad Lingo Executive ChairmanTony Strasser Managing Director
Daniel Chen
Non Executive Director
Bruce Gordon
Non Executive Director
30+ years international senior executive experience Upstream/midstream energy, energy infrastructure, finance
Proven track record of creating & growing shareholder value
Extensive oil & gas experience including project and financial management, corporate finance and M&A 25+ years
Proven record in oil & gas with shareholder backing through multiple ventures
17+ years of international business, project management and leadership experience in large scale transport and logistics
Corporate advisor to private Australian oil & gas companies since 2018
Corporate Finance and Corporate Audit Specialist in the Natural Resources Sector 25+ years acting for, and advising, ASX and International oil and gas companies.
Extensive public company accounting, financial reporting and corporate governance knowledge
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Disclaimer
Pilot Energy Limited published this content on 28 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 March 2022 00:13:05 UTC.
