Pilot Energy Ltd.

Pilot Energy Ltd.

March 27, 2006 19:57 ET

Pilot Energy Ltd.- Early Warning

CALGARY, ALBERTA--(CCNMatthews - March 27, 2006) - Pilot Energy Ltd. (TSX VENTURE:PGY) ("Pilot") announces that Mr. Scott Ratushny, Chairman of Pilot, together with his spouse, have purchased an aggregate of 397,800 common shares of Pilot through private placements of common shares of Pilot and in the market through the facilities of the TSX Venture Exchange since the date of the last early warning report filed by Mr. Ratushny in September, 2005. The common shares were acquired for investment purposes. Mr. Ratushny and his spouse may acquire additional securities of Pilot through market purchases or otherwise.

As a result of these transactions Mr. Ratushny and his spouse control, either directly or indirectly, 3,088,600 common shares or 15.6% of the issued and outstanding common shares of Pilot.

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

Issued and Outstanding Common Shares: 19,736,362

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