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The latest announcement is out from Red Sky Energy Limited ( (AU:ROG) ).
Red Sky Energy Limited has announced significant progress in the preparations for drilling at the KN2 well site within the Killanoola Oil Project in South Australia’s Penola Trough. The company has mobilized drilling equipment to the site and received approval for its water monitoring program from the Department for Energy and Mining (DEM), with the drilling program awaiting final regulatory approval. The drilling operation, expected to last nine days, marks a crucial step in Red Sky’s operational milestones, with further plans to advance discussions on offtake and processing with Santos, indicating potential growth and development in their oil production capabilities.
More about Red Sky Energy Limited
Red Sky Energy Limited operates in the energy sector, focusing primarily on oil exploration and production. The company is engaged in projects within the Penola Trough in South Australia, with a market focus on developing and optimizing oil extraction processes.
Technical Sentiment Signal: Sell
Current Market Cap: A$27.11M
Find detailed analytics on ROG stock on TipRanks’ Stock Analysis page.