Red Sky Energy Unveils Significant Oil Resources in Offshore Angola

Red Sky Energy Limited ( (AU:ROG) ) just unveiled an announcement.

Red Sky Energy Limited announced the completion of maiden resource estimates for Block 6/24, offshore Angola, where it holds a 35% working interest. The estimates reveal significant oil resources in the Cegonha Cluster Area, with a net contingent resource of 5.1 million barrels and a net prospective resource of 11.0 million barrels. The company is poised for rapid appraisal and development, with a focus on advancing exploration and unlocking value from the asset. The assessment by PetroAus has refined resource estimates and identified additional potential, positioning Block 6/24 as a cornerstone growth asset for Red Sky. The company aims to progress towards commercialization and deliver long-term value for shareholders.

More about Red Sky Energy Limited

Red Sky Energy Limited is an energy company involved in the exploration and development of oil resources. The company holds a 35% working interest in Block 6/24, offshore Angola, focusing on the Cegonha Cluster Area alongside partners Sonangol E&P and ACREP.

YTD Price Performance: -9.09%

Technical Sentiment Signal: Buy

Current Market Cap: A$27.11M

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