Ann: Proposed issue of securities - PGY, page-3

From an earlier announcement
Regulatory approval for the Declaration over the WA-31-L tenement area as an identified greenhouse
gas storage resource by NOPTA will trigger the restructure of the CHJV (subject to regulatory approval)
which will result in Pilot holding a 60% direct operated participating interest in both the CHJV (oil project)
and the Cliff Head CCS Project, and Triangle holding a 40% direct participating interest in both projects

Both PGY & TEG are languishing is it any surprise no one wants to join in this venture?
Best we can hope is that approval from NOPTA triggers a re-rate for both companies and maybe interest from 3rd parties
AIMHO & DYOR