Sept 25 (Reuters) - Pilot Energy Ltd PGY.AX :
* TO ACQUIRE 100% OF ROYAL ENERGY IN ALL-SCRIP ACQUISITION FOR 143.9 MILLION PILOT SHARES
* ACQUISITION GIVES PILOT JOINT OPERATIONAL CONTROL OF CLIFF HEAD OIL FIELD JV THROUGH 50% OWNERSHIP OF CLIFF HEAD OIL JV OPERATOR
* THROUGH ACQUISITION CO WILL OWN 21.25% STAKE IN CLIFF HEAD OIL FIELD JV
* SECURED COMMITMENTS FOR $2.5 MILLION PLACEMENT