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Red Sky Energy Limited (ASX:ROG)

ALERT: Price-sensitive ASX Announcement for ROG
Current share price for ROG : $0.001 -0.002 (-66.67%)+
Announcement
Release
8 Sep 2025 9:03AM
Price at Release
$0.003
Full Release
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Summary
Red Sky Energy Ltd (ASX: ROG) has received final approval from the South Australian Department for Energy and Mining (DEM) for the construction of the KN2 well site at the Killanoola Oil Project in South Australia. This approval allows Red Sky to commence immediate site preparation, with pad construction expected to be completed within two weeks. The KN2 well targets a previously undrilled structural high identified by Red Sky's 3D seismic survey, which has increased the Best Estimate Petroleum Initially In Place (PIIP) to 135.5 million barrels. The project is funded under a Farmin Agreement, which involves multiple stakeholders, including Condor Energy Services, to cover 75% of the drilling costs in exchange for a 45% working interest. Red Sky retains a 55% interest and full operatorship of the project. The KN2 drilling aims to significantly boost production and revenue in the near term.
Key Points
  • DEM approval received for KN2 pad construction
  • Pad construction to begin shortly, completion expected in two weeks
  • KN2 targets an undrilled structural high, increasing PIIP by 46%
  • KN2 drilling funded under Farmin Agreement
  • Red Sky retains 55% interest in KN2 and full operatorship
  • Potential for significant production and revenue growth
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.