PILOT ENERGY LIMITED — Capital/Financing Update 2015

Nov 10, 2015

Pilot Energy Ltd ABN 86 115229 984 Level 2, 55 Carrington Street Nedlands WA 6009 Australia T: +61 9423 3200

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Announcement to ASX

11 November, 2015

SALE OF WESTERN BLOCK BY ROYALE ENERGY

Pilot Energy Ltd (ASX: PGY) is pleased to announce that, further to the Company’s announcement of 28 October 2015, Royale Energy Inc. has announced a sale of its 100% interest in the Western Block to an undisclosed third party.

Under the terms of the Deed of Settlement & Mutual Release between the Company and Royale Energy, a US$350,000 cash payment will be required to be paid to Pilot Energy. This is in addition to the US$150,000 initial payment, which has already been received.

Pilot Energy will provide a further update, regarding the expected timing of receipt of funds, in due course.

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Enquiries

Iain Smith, Managing Director, Tel: +61 412 638019, email: ismith@pilotenergy.com.au