To capitalize on these resource upgrades, Pilot plans to initiate a formal farm-out process soon, seeking partners to fund near-term exploration activities.

This mapping supports the theory of three sandstone reservoirs, enhancing the potential for hydrocarbon trapping and storage.

Pilot Energy has announced a remarkable 250% increase in its gas resource estimates in Western Australia, significantly enhancing its exploration potential.

The permit area encompasses the Dunsborough contingent oil resource of 6 million barrels and the Frankland contingent gas resource of 42 billion cubic feet.

Pilot's WA-481-P permit, covering the Leander gas prospect, is one of Australia’s largest offshore exploration permits, spanning 8,605 square kilometers in shallow waters off Western Australia.

This increase in prospective gas resources may enable Pilot to secure funding from partners, thereby reducing exploration costs and preserving cash for other projects.

The company has also identified three oil targets southeast of Leander, estimated to contain recoverable resources of 66 million barrels of oil.

Leander is strategically located 15 kilometers west of the Cliff Head oil platform, making it the most advanced target within the WA-481-P permit.

The company expects increased interest from third parties as it prepares to secure partners for financing its upcoming Eureka 3D seismic survey and future drilling programs.

Recent mapping of reprocessed 2D seismic data has revealed a four-way dip trap structure at Leander, indicating increased closure height and thickness, which boosts confidence in resource estimates.

The company's WA Leander prospective gas resource has been upgraded to an estimated 1,116 billion cubic feet of gas and 18 million barrels of condensate.

In addition to Leander, Pilot holds further exploration prospects, including the Harrier and Hawk gas targets located immediately south of the Leander site.