Pilot Energy said that an independent audit of prospective oil resources for its WA-507-P exploration permit offshore Western Australia has confirmed the potential for multimillion-barrel oil discoveries. The audit findings by Gaffney, Cline & Associates supplement Pilot’s previous announcement of a confirmed potential for multi-Tcf natural gas discoveries in the permit, located in the Carnarvon Basin. Pilot holds an 80% working interest in the permit, and Black Swan Resources holds the remaining interest.
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