Pilot Energy : Cornerstone Investment - Completion of Tranche 2 - 27-Jun-16

Pilot Energy Limited is a junior oil and gas exploration and production company. The Company's projects include WA-31-L, WA-481-P, EP 416 and EP 480. It holds a 21.25% interest in the Cliff Head Oil field and Cliff Head Infrastructure, and a 100% working interest in WA-481-P and EP416/480 exploration permits, located offshore and onshore Western Australia. Its Mid West Clean Energy Project involves leveraging brownfield infrastructure (Cliff Head Project) to enable a large-scale clean energy project. It includes several sub-projects, including carbon management for third parties, permanently storing the project’s own carbon dioxide associated with blue hydrogen production, and the production of clean ammonia from blue and green hydrogen. The Cliff Head Oil Field is located approximately 270 kilometers (km) north of Perth and 10 km off the coastal town of Dongara in Western Australia. The production license WA-31-L covers 72 square kilometers (km2) and the oil field covers six km2.