Subscribe to Newsletter
  • MCDERMOTT Floating Facilities

logo

  • News
  • Projects
  • Business and Finance
  • Trending
  • Business Insight
  • Events
  • Online Magazine
  • Advertise
  • Contact
Home
  • News
  • Projects
  • Business and Finance
  • Trending
  • Business Insight
  • Events
  • Online Magazine
  • Advertise
  • Contact
Quotes by TradingView

Pilot Energy enters binding convertible note agreement to raise $3 million

04 May, 2023
ESG disruption will shake up oil and gas market, says GlobalData



Pilot Energy Limited (ASX:PGY) has executed a binding convertible note agreement with a syndicate of sophisticated investors for an investment in the company of $3 million before costs.

The investor syndicate is led by Greg Columbus, who has over 30 years of experience in the energy and oil & gas industries, including technical, commercial, executive and non-executive roles and is also an experienced investor in listed companies.

Until recently, Columbus was also the Chairman and a major shareholder of ASX listed Warrego Energy, a developer of natural gas resources in the Perth Basin, which was taken over by the Hancock Prospecting Group in March 2023.

Proceeds from the issue of the convertible note will provide funding towards activities associated with Pilot’s projects including the Carbon Capture & Storage (CCS) FEED and pre-FEED preparatory work for the broader Mid West Clean Energy Project (MWCEP) in Western Australia.

The recent funding initiatives will provide a runway for the company to continue the planning stage of the MWCEP while partnering arrangements are being concluded.

Pilot Managing Director Tony Strasser said the company was delighted to welcome Columbus and other syndicate members as significant investors in Pilot Energy.

Strasser said: “Greg has a strong understanding of the Australian energy industry and Western Australia in particular.

“He also has a track record of successful investments in the energy sector over many years and I am confident Pilot will benefit from his strategic knowledge and financial commitment of the Syndicate.

“The investment shows confidence in Pilot’s exciting MWCEP and management to commercialise the developments underway.”

Related Articles

BKV and Comstock to develop carbon capture projects in Texas

BKV and Comstock to develop carbon capture projects in Texas

INPEX joins European carbon capture market with Trudvang CCS stake

INPEX joins European carbon capture market with Trudvang CCS stake

Australia to host global carbon capture conference in 2026

Australia to host global carbon capture conference in 2026

INPEX and Chubu Electric Power join forces to explore Japan-Australia CCS value chain

INPEX and Chubu Electric Power join forces to explore Japan-Australia CCS value chain

Comments

Leave a comment Cancel reply

You must be logged in to post a comment.

Breaking

  • News
  • Projects
  • Trending
09 May

Woodside outlines growth and climate strategy at 2025 AGM

07 May

Trump threatens secondary sanctions over Iranian oil purchases

07 May

INEOS and Covestro ink eight year LNG supply deal

06 May

Exxon and Chevron face off over Guyana oil block arbitration

06 May

Shell boosts Ursa stake, strengthening Gulf leadership

15 May

Venture Global secures $3b CP2 loan

07 May

BKV and Comstock to develop carbon capture projects in Texas

07 May

Horizon Oil begins major Beibu Gulf drilling

07 May

Vaquero Midstream doubles capacity with pipeline expansion

07 May

Woodside and bp ink gas supply deal for Louisiana

09 Apr

The decommissioning challenge: How Australia and the UK can collaborate for success

14 Feb

Risks of subsea operations necessitate project lifecycle assurance

13 Feb

Global bunkering sees steady growth as demand rises

12 Feb

Offshore well integrity risk drives urgency for effective decommissioning regime

11 Feb

The role of Australia’s oil and gas sector shifts as energy markets make new demands

Online Magazine

    Current Cover
  • Login
  • Subscribe

Subscribe

Subscribe to Newsletter

Our Titles

  • Share on Newsletter
  • Share on LinkedIn
  • Share on Twitter
  • Home
  • Contact Us
  • Terms and Conditions
  • Privacy
© Sage Media Group 2025 All Rights Reserved.
×
Authorization
  • Registration
 This feature has been disabled
 This feature has been disabled until further notice, however you may still register
×
Registration
  • Autorization
Register
* All fields required