Pilot Energy Ltd.

Pilot Energy Ltd.

September 07, 2005 19:36 ET

Pilot Energy Ltd. Announces Early Warning Report

CALGARY, ALBERTA--(CCNMatthews - Sept. 7, 2005) - Pilot Energy Ltd. (TSX VENTURE:PGY) ("Pilot") announces that Mr. Scott Ratushny, the Chairman of Pilot, together with his spouse, have purchased an aggregate of 443,300 common shares of Pilot in the market since October of 2004. In addition, Mr. Ratushny, together with his spouse, has acquired 82,000 common shares of Pilot through the exercise of warrants previously issued to Mr. Ratushny's spouse. As a result of these transactions, Mr. Ratushny and his spouse control, either directly or indirectly, 14.82% of the issued and outstanding shares of Pilot.

Pilot is a Canadian junior energy company engaged in the exploration, development and production of crude oil and natural gas in Western Canada.

Issued and Outstanding Common Shares: 17,997,212

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Pilot Energy Ltd.
    Todd Lemieux
    (403) 514-8115 ext. 226
    Pilot Energy Ltd.
    Doug Smith
    Chief Financial Officer
    (403) 514-8115 ext. 232