Latest news with #WestAustralian-based
West Australian
24-06-2025
- Business
- West Australian
Pilot, Triangle lock in Cliff Head transfer for carbon capture play
Pilot Energy has locked in the purchase of the West Australian-based Cliff Head oil facility from former joint venture partner Triangle Energy and will repurpose the asset as a carbon capture and storage facility within its Mid West Clean Energy project. Triangle's remaining 78.75 per cent interest in the Cliff Head oil field within the Perth Basin, held under the current JV, has been transferred to Pilot in exchange for a secured $5.563 million promissory note. The previously announced revised terms of the sale allowed for Pilot's existing debt to Triangle to be converted via the secured note. It matures on September 30, 2026. Interest will accrue from June 30 at 10 per cent and will be capitalised to maturity. Ownership of all onshore and offshore assets falling within WA state jurisdiction has been transferred to Pilot. The assets include onshore processing facilities, the Arrowsmith production plant, Arrowsmith freehold land, infrastructure licences and offshore pipelines within state waters. The pipelines extend 16 kilometres to an offshore platform, with the first 12km estimated to fall within WA waters. The remaining 4km of pipelines are in Commonwealth jurisdiction. Pilot will ask to transfer the project via the National Offshore Petroleum Titles Administrator. The company plans to soon lodge the relevant paperwork with the administrator. Triangle stands to receive a considerable boost to its cash position from the sale. In addition to the secured note funds due next year, the company will receive a one-off $167,000 payment on August 31 this year in recognition of the deferred interest accrual under the secured note. It will receive a further $4.5 million when Pilot receives a greenhouse gas injection licence and up to a further $7.5 million in royalties from the project. Pilot is also looking to sell its Three Springs solar project, also in WA's Mid West region. If that occurs, Pilot has agreed to pay Triangle 30 per cent of the sale proceeds towards its secured debt. Triangle will continue to hold full security over Pilot and its subsidiary company Royal Energy until the debt is repaid in full. Pilot Energy is now champing at the bit to bring in an elite group of investors interested in agreeing on a joint venture to develop and operate the Mid West Clean Energy project. Pilot has a state-owned enterprise (SOE), experienced with carbon storage and capture, locked and loaded to help develop the project. A consortium of South Korean mega-energy firms led by Korea Southern Power Co is also looking to link up with Pilot and acquire a 60 per cent interest to jointly develop the Mid West project to secure a supply of ammonia. The ammonia will be used for hydrogen cofiring in coal-fired power plants in Korea. The Korean Southern Power Co is one of six State-owned power companies and the nation's largest electric utility group. It plans to burn a mix of 20 per cent ammonia and 80 per cent coal at the company's large Samcheok 2044-megawatt thermal power plant in the eastern Korean province of Gangwon-Do, about 120 kilometres from the capital city of Seoul. The consortium comprises Korea Southern Power Co, Korea East-West Power, Samsung C&T and hydrogen producer Approtium. The company plans to repurpose the depleted Cliff Head oil well into a facility capable of storing liquified carbon emissions from WA's industrial emitters. Pilot will create a carbon storage business, charging third-party emitters, to add to its clean energy ammonia project arsenal. Pilot also plans to supply blue and eventually green hydrogen into WA's energy grid, positioning itself as a major supplier as the State looks to cut emissions and help develop sources of cleaner electricity. As Cliff Head swaps hands, both Pilot and Triangle appear to have emerged as winners. Is your ASX-listed company doing something interesting? Contact:
Sydney Morning Herald
24-06-2025
- Business
- Sydney Morning Herald
Pilot, Triangle lock in Cliff Head transfer for carbon capture play
Pilot Energy has locked in the purchase of the West Australian-based Cliff Head oil facility from former joint venture partner Triangle Energy and will repurpose the asset as a carbon capture and storage facility within its Mid West Clean Energy project. Triangle's remaining 78.75 per cent interest in the Cliff Head oil field within the Perth Basin, held under the current JV, has been transferred to Pilot in exchange for a secured $5.563 million promissory note. The previously announced revised terms of the sale allowed for Pilot's existing debt to Triangle to be converted via the secured note. It matures on September 30, 2026. Interest will accrue from June 30 at 10 per cent and will be capitalised to maturity. Ownership of all onshore and offshore assets falling within WA state jurisdiction has been transferred to Pilot. The assets include onshore processing facilities, the Arrowsmith production plant, Arrowsmith freehold land, infrastructure licences and offshore pipelines within state waters. 'All the hard work to consolidate ownership of the Cliff Head oil JV assets and infrastructure is beginning to pay off.' Pilot Energy managing director Brad Lingo The pipelines extend 16 kilometres to an offshore platform, with the first 12km estimated to fall within WA waters. The remaining 4km of pipelines are in Commonwealth jurisdiction. Pilot will ask to transfer the project via the National Offshore Petroleum Titles Administrator. The company plans to soon lodge the relevant paperwork with the administrator. Triangle stands to receive a considerable boost to its cash position from the sale. In addition to the secured note funds due next year, the company will receive a one-off $167,000 payment on August 31 this year in recognition of the deferred interest accrual under the secured note. It will receive a further $4.5 million when Pilot receives a greenhouse gas injection licence and up to a further $7.5 million in royalties from the project.
The Age
24-06-2025
- Business
- The Age
Pilot, Triangle lock in Cliff Head transfer for carbon capture play
Pilot Energy has locked in the purchase of the West Australian-based Cliff Head oil facility from former joint venture partner Triangle Energy and will repurpose the asset as a carbon capture and storage facility within its Mid West Clean Energy project. Triangle's remaining 78.75 per cent interest in the Cliff Head oil field within the Perth Basin, held under the current JV, has been transferred to Pilot in exchange for a secured $5.563 million promissory note. The previously announced revised terms of the sale allowed for Pilot's existing debt to Triangle to be converted via the secured note. It matures on September 30, 2026. Interest will accrue from June 30 at 10 per cent and will be capitalised to maturity. Ownership of all onshore and offshore assets falling within WA state jurisdiction has been transferred to Pilot. The assets include onshore processing facilities, the Arrowsmith production plant, Arrowsmith freehold land, infrastructure licences and offshore pipelines within state waters. 'All the hard work to consolidate ownership of the Cliff Head oil JV assets and infrastructure is beginning to pay off.' Pilot Energy managing director Brad Lingo The pipelines extend 16 kilometres to an offshore platform, with the first 12km estimated to fall within WA waters. The remaining 4km of pipelines are in Commonwealth jurisdiction. Pilot will ask to transfer the project via the National Offshore Petroleum Titles Administrator. The company plans to soon lodge the relevant paperwork with the administrator. Triangle stands to receive a considerable boost to its cash position from the sale. In addition to the secured note funds due next year, the company will receive a one-off $167,000 payment on August 31 this year in recognition of the deferred interest accrual under the secured note. It will receive a further $4.5 million when Pilot receives a greenhouse gas injection licence and up to a further $7.5 million in royalties from the project.
Herald Sun
28-05-2025
- Herald Sun
Brendan Helmore pleads guilty to lighting fires at Ulupna island
Don't miss out on the headlines from Goulburn Valley. Followed categories will be added to My News. A Bendigo miner lit more than 30 fires at a popular camping site near Tocumwal on the state's northern border after entering a 'psychotic state', believing he was dying of dehydration and stripping off his clothes. Brendan Helmore, 45, pleaded guilty in Shepparton County Court on Wednesday to intentionally causing a bushfire and possessing methylamphetamine. On the Easter weekend of 2024, Helmore was camping at Ulupna island, along with about 2000 others. He was on personal leave from his job at a West Australian-based mining company, where he worked as an underground operator at the time. After consuming methylamphetamine the night before, Helmore went for a walk on March 30 in the bush near his campsite when he started to become distressed and delusional. The court heard he believed he was dehydrated to the point he was going to die and panicked when he could not find any water. He stripped his jumper and shirt off wearing only his jeans. Helmore saw an aircraft flying above him and in an attempt to be rescued he began setting fires with a black lighter. Witnesses saw one of the fires and attempted to put it out before seeing more and calling emergency services. It took four hours for the fires to be brought under control by the CFA, and a further seven days for the area to be deemed safe. Helmore was arrested at the campsite and interviewed where he admitted to lighting at least three fires, however he denied he was in the fire area that has been reported. The court heard he told police he did not try to put any of the fires out and kept lighting them because the first one didn't work in getting attention. Helmore was in prison from his arrest to November 20 last year when he was granted bail. The court heard he experienced a 'very uncomfortable' time in custody. Defence lawyer Alex McLennan said Helmore accepted the seriousness of the offences and with his plea of guilty had accepted responsibility. He said Helmore had good prospects for rehabilitation and had not experienced any relapses in his mental health, but would be best supported by continued treatment. He will be sentenced on June 5 and assessed for a community corrections order.
Perth Now
08-05-2025
- Sport
- Perth Now
Fringe Docker given OUTRAGEOUS new video game rating
Fremantle stars Caleb Serong and Andrew Brayshaw are among the highest-rated players in the latest edition of the AFL's official video game. But it's the rating of Dockers forward Bailey Banfield — who has battled to break into their side this year — that has caught the eye. Serong is the top-rated West Australian-based player in the game, which was released on Thursday, with 92, while his Dockers midfield mate Brayshaw is alongside a host of the game's stars on 91. SEE EVERY DOCKERS AND EAGLES' RATING IN THE NEW GAME AT Players are given a rating out of 100, which relates to their strength in the game. West Coast veterans Jeremy McGovern and Elliot Yeo are both 87-rated players, while Tim Kelly has been given an 86 rating and Jake Waterman 83. Second-year jet Harley Reid is rated 82. But of all the WA-based players, the most surprising rating belongs to Banfield, who is on the outer at Fremantle. The forward has been sensationally rated 87, the same as the two top Eagles and more than a host of gun teammates including high-priced recruit Shai Bolton. He shares that level with Sam Switkowski, Sean Darcy and two-time All Australian Luke Ryan. And the lowest-rated Docker is small forward Isaiah Dudley, who made his debut earlier this season and has become an important part of Justin Longmuir's side already this season. Serong, Brayshaw, Hayden Young, Jordan Clark, Luke Jackson and Josh Treacy are the only Fremantle players ranked higher. The lowest-ranked Eagle is draftee Lucca Greggo, who has impressed in the early rounds of the WAFL season. WA and Carlton's two-time Brownlow medallist Patrick Cripps is the game's top-rated player with 94, ahead of Collingwood's Nick Daicos on 93 and Tom Green, Marcus Bontempelli and Serong on 92.
