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Red Sky Energy Limited ( (AU:ROG) ) has provided an update.
Red Sky Energy Limited has received approval from the South Australian Department for Energy and Mining to commence drilling at the Killanoola-2 (KN2) well, marking a significant milestone for the company. This development is expected to enhance Red Sky’s operational capabilities and potentially increase output and revenue, with the KN2 well targeting a previously undrilled structural high that could drive material growth in the near term.
More about Red Sky Energy Limited
Red Sky Energy Limited is an energy company focused on oil and gas exploration and production. The company is involved in projects such as the Killanoola Oil Project in South Australia’s Penola Trough, which has shown significant potential for increased petroleum reserves following a 3D seismic program.
Technical Sentiment Signal: Sell
Current Market Cap: A$21.69M
Learn more about ROG stock on TipRanks’ Stock Analysis page.