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An announcement from Red Sky Energy Limited ( (AU:ROG) ) is now available.
Red Sky Energy Limited has commenced construction at the KN2 well pad, part of the Killanoola Oil Project, following approval from the South Australian Department for Energy and Mining. This development marks a significant step for the company, with the site preparation involving topsoil removal and cultural monitoring to ensure compliance with heritage and environmental protocols. The project is expected to enhance production and support near-term cash flow, with Red Sky retaining a 55% interest in the KN2 well. The company has a Farmin Agreement with partners to fund the majority of drilling costs, and is advancing discussions for processing and sales options.
More about Red Sky Energy Limited
Red Sky Energy Limited is an energy company involved in the oil industry, focusing on the exploration and development of oil projects. The company is primarily engaged in the Killanoola Oil Project located in South Australia’s Penola Trough.
Technical Sentiment Signal: Sell
Current Market Cap: A$21.69M
For detailed information about ROG stock, go to TipRanks’ Stock Analysis page.