Announcement • Mar 03
Pilot Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 3.439998 million. Pilot Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 3.439998 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 527,390,794
Price\Range: AUD 0.0036
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 428,164,088
Price\Range: AUD 0.0036
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Announcement • Jan 06
Pilot Energy Limited, Annual General Meeting, Feb 24, 2026 Pilot Energy Limited, Annual General Meeting, Feb 24, 2026. Reported Earnings • Jan 01
Full year 2025 earnings released: AU$0.004 loss per share (vs AU$0.004 loss in FY 2024) Full year 2025 results: AU$0.004 loss per share (in line with FY 2024). Net loss: AU$7.15m (loss widened 49% from FY 2024). Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has fallen by 38% per year, which means it is significantly lagging earnings. New Risk • Dec 30
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended March 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (25% average weekly change). Earnings have declined by 24% per year over the past 5 years. Shareholders have been substantially diluted in the past year (30% increase in shares outstanding). Revenue is less than US$1m (AU$932k revenue, or US$626k). Market cap is less than US$10m (AU$10.8m market cap, or US$7.24m). Minor Risk Latest financial reports are more than 6 months old (reported March 2025 fiscal period end). New Risk • Aug 25
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$15.1m (US$9.80m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (20% average weekly change). Earnings have declined by 24% per year over the past 5 years. Shareholders have been substantially diluted in the past year (53% increase in shares outstanding). Revenue is less than US$1m (AU$932k revenue, or US$605k). Market cap is less than US$10m (AU$15.1m market cap, or US$9.80m). Announcement • Jun 11
Pilot Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 5 million. Pilot Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 324,415,003
Price\Range: AUD 0.01
Discount Per Security: AUD 0.0006
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 175,585,000
Price\Range: AUD 0.01
Discount Per Security: AUD 0.0006
Transaction Features: Subsequent Direct Listing Announcement • May 12
Pilot Energy Limited announced that it expects to receive AUD 1.8 million in funding from Discovery Investments Pty. Ltd. Pilot Energy Limited announced a binding agreement for private placement of convertible notes for the gross proceed of AUD 1800,000 on May 12, 2025. The transaction involves participation of syndicate of sophisticated investors lead by Discovery Investments Pty Ltd as a returning investor. The transaction is subject to shareholders approval on general meeting to be held on June 4, 2025.. The Investor Syndicate is being led by Mr. Greg Columbus. The transaction will happen in tranches, AUD 750,000 to be advanced to the company within 7 business days of the execution date of the convertible note terms sheet with no rights of conversion and AUD 1,050,000 to be paid to the company within 7 days of the condition satisfied. Condition for raising tranche 2 are, subject to the company receiving payment of the face value, the company will issue the notes to the investors and In the case of the Investors who contributed the advanced funds to the company upon execution of the Agreement, the amount they advanced will be offset against the subscription amount they are due to pay under the agreement. Coupon rate is 12 % and maturity date is December 31, 2028 and execrable on December 31,2027. The conversion price of notes is AUD 0..02 and notes are unsecured. Announcement • Apr 16
Pilot Energy Limited has filed a Follow-on Equity Offering in the amount of AUD 5 million. Pilot Energy Limited has filed a Follow-on Equity Offering in the amount of AUD 5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 324,415,003
Price\Range: AUD 0.01
Discount Per Security: AUD 0.0006
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 175,584,997
Price\Range: AUD 0.01
Discount Per Security: AUD 0.0006
Transaction Features: Subsequent Direct Listing Announcement • Apr 01
Pilot Energy Limited Announces Material Upgrade to the Prospective Gas Resource for Its Offshore Exploration Permit WA-481-P Pilot Energy Limited announced a material upgrade to the prospective gas resource for its offshore exploration permit WA-481-P. The Company holds a 100% operated interest in the 8,605km2 permit located in shallow waters offshore Western Australia, encompassing the Dunsborough oil field and Frankland gas field. WA-481-P is strategically positioned adjacent to the onshore Perth Basin oil and gas discoveries on the Beagle Ridge and Dandaragan Trough respectively. This discovery proved up the gas play potential of the now prolific gas reservoirs of the Kingia and High Cliff Formations. These deeper formations were not recognised exploration targets at the time that Leader Reef-1 was drilled and as a result Diamond Shamrock stopped drilling without proceeding to test these now-recognised gas pay reservoirs. Following the 2023 technical study that identified a material gas fairway in the offshore part of the Perth Basin mirroring the Dandaragan Trough, Pilot's internal technical team and consultants have continued to mature the subsurface models, which has resulted in a further advancement and update of the Leander prospective gas resource. The upgrade follows re-mapping of reprocessed 2D seismic data and an extensive review of the offset well database from the onshore discoveries, which are now open-file - Waitsia, West Erregulla, Beharra Springs Deep and Lockyer gas fields. The Leander gas prospect is located 15 km west of the existing Cliff Head oil platform and is the most mature target within WA-481-P. Pilot's internally assessed prospective resources for the Leander gas project has increased from 450 Bcf to 1,116 Bcf (mean estimate, recoverable). The Harrier and Hawk gas prospects lie immediately south of Leander and Hawk gas prospects lies immediately south of Leander and provide additional exploration targets. Announcement • Mar 31
Pilot Energy Limited Appoints Greg Columbus as Non-Executive Chairman, Effective 31 March 2025 Pilot Energy Limited announced the appointment of Mr. Greg Columbus as Non-Executive Chairman, effective 31 March 2025. Mr. Columbus brings over 30 years of experience in the energy and oil & gas sectors, having held various technical, commercial, executive and non-executive roles. As an experienced company director, he has demonstrated expertise in corporate strategy, finance, and legal matters. Throughout his career, Mr. Columbus has successfully led large-scale energy and oil & gas projects and played a key role in numerous M&A transactions, including his recent tenure as Independent Non-Executive Chairman of Warrego Energy and Talon Energy. Mr. Columbus succeeds Mr. Lingo, who will continue as Managing Director of the Company. Announcement • Mar 20
Pilot Energy Limited Announces Retirement of Daniel Chen as A Non-Executive Director Pilot Energy Limited advised that Mr. Daniel Chen has announced his retirement as a non-executive director of the Company, with effect from 19 March 2025. Announcement • Feb 14
Pilot Energy Limited Announces Retirement of Bruce Gordon as Non-Executive Director Pilot Energy Limited announced retirement of Mr. Bruce Gordon as a non-executive director of the Company, with effect from 12 February 2025. Announcement • Dec 16
Pilot Energy Limited, Annual General Meeting, Feb 12, 2025 Pilot Energy Limited, Annual General Meeting, Feb 12, 2025. New Risk • Oct 18
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 58% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 33% per year over the past 5 years. Shareholders have been substantially diluted in the past year (58% increase in shares outstanding). Revenue is less than US$1m (AU$572k revenue, or US$383k). Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Market cap is less than US$100m (AU$26.3m market cap, or US$17.6m). New Risk • Aug 09
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 33% per year over the past 5 years. Revenue is less than US$1m (AU$572k revenue, or US$377k). Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Shareholders have been diluted in the past year (36% increase in shares outstanding). Market cap is less than US$100m (AU$23.5m market cap, or US$15.5m). Reported Earnings • Jun 20
First half 2024 earnings released: AU$0.002 loss per share (vs AU$0.004 loss in 1H 2023) First half 2024 results: AU$0.002 loss per share (improved from AU$0.004 loss in 1H 2023). Net loss: AU$1.87m (loss narrowed 30% from 1H 2023). New Risk • Jun 15
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$6.7m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$6.7m free cash flow). Earnings have declined by 33% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (22% increase in shares outstanding). Revenue is less than US$5m (AU$1.9m revenue, or US$1.2m). Market cap is less than US$100m (AU$21.4m market cap, or US$14.2m). Board Change • Jun 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. Independent Non Executive Director Bruce Gordon was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. New Risk • Feb 08
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 52% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 37% per year over the past 5 years. Shareholders have been substantially diluted in the past year (52% increase in shares outstanding). Revenue is less than US$1m (AU$421k revenue, or US$274k). Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Market cap is less than US$100m (AU$33.3m market cap, or US$21.6m). Announcement • Feb 08
Pilot Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 2.424 million. Pilot Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 2.424 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 119,600,000
Price\Range: AUD 0.02
Discount Per Security: AUD 0.0012
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 1,600,000
Price\Range: AUD 0.02
Discount Per Security: AUD 0.0012
Transaction Features: Subsequent Direct Listing Reported Earnings • Dec 18
Full year 2023 earnings released: AU$0.005 loss per share (vs AU$0.005 loss in FY 2022) Full year 2023 results: AU$0.005 loss per share (in line with FY 2022). Net loss: AU$4.19m (loss widened 55% from FY 2022). Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Announcement • Dec 06
Pilot Energy Limited, Annual General Meeting, Feb 06, 2024 Pilot Energy Limited, Annual General Meeting, Feb 06, 2024. Announcement • Nov 07
Pilot Energy Limited has filed a Follow-on Equity Offering in the amount of AUD 2.424 million. Pilot Energy Limited has filed a Follow-on Equity Offering in the amount of AUD 2.424 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 121,200,000
Price\Range: AUD 0.02
Discount Per Security: AUD 0.0012
Transaction Features: Subsequent Direct Listing New Risk • Nov 01
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 16% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (16% average weekly change). Earnings have declined by 32% per year over the past 5 years. Shareholders have been substantially diluted in the past year (70% increase in shares outstanding). Revenue is less than US$1m (AU$375k revenue, or US$238k). Minor Risk Market cap is less than US$100m (AU$24.9m market cap, or US$15.8m). Reported Earnings • Jun 08
First half 2023 earnings released: AU$0.004 loss per share (vs AU$0.002 loss in 1H 2022) First half 2023 results: AU$0.004 loss per share (further deteriorated from AU$0.002 loss in 1H 2022). Net loss: AU$2.68m (loss widened 230% from 1H 2022). Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • May 05
Pilot Energy Limited announced that it has received AUD 3 million in funding Pilot Energy Limited announced a private placement of convertible notes for gross proceeds of AUD 3,000,000 on May 4, 2023. The company has signed a binding convertible note agreement with a syndicate of sophisticated investors. The Investor Syndicate is being by individual investor, Greg Columbus. The note carries an interest rate of 12% and will mature 24 months from Completion. The conversion price is AUD 0.02. The convertible note is unsecured. The Convertible Note Agreement remains subject to and conditional upon shareholder approval of the issue of the convertible notes under ASX Listing Rule 7.1. Reported Earnings • Dec 20
Full year 2022 earnings released: AU$0.005 loss per share (vs AU$0.014 loss in FY 2021) Full year 2022 results: AU$0.005 loss per share (improved from AU$0.014 loss in FY 2021). Net loss: AU$2.71m (loss narrowed 29% from FY 2021). Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Announcement • Dec 12
Pilot Energy Limited, Annual General Meeting, Feb 10, 2023 Pilot Energy Limited, Annual General Meeting, Feb 10, 2023. Breakeven Date Change • Nov 17
No longer forecast to breakeven The analyst covering Pilot Energy no longer expects the company to break even during the foreseeable future. The company was expected to make a profit of AU$94.0k in 2022. New forecast suggests the company will make a loss of AU$1.16m in 2022. Board Change • Nov 17
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. Executive Chairman of the Board Brad Lingo is the most experienced director on the board, commencing their role in 2020. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Aug 09
Insider recently bought AU$134k worth of stock On the 2nd of August, Alexander Sundich bought around 5m shares on-market at roughly AU$0.025 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$142k more in shares than they have sold in the last 12 months. Board Change • Apr 28
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. Executive Chairman of the Board Brad Lingo is the most experienced director on the board, commencing their role in 2020. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. 
