Dec 19 (Reuters) - Pilot Energy Ltd PGY.AX :
* PILOT ENERGY LTD- WILL NOT BE PROCEEDING WITH SALE OF ITS BENEFICIAL INTEREST IN OFFSHORE EXPLORATION PERMIT WA-503 P TO BLACK SWAN RESOURCES
* PILOT ENERGY LTD - CO & BLACK SWAN WILL CONTINUE TO WORK TOGETHER AS JV PARTNERS IN OFFSHOREE EXPLORATION PERMIT