BackgroundRed Sky Energy was formed on 20 December 2001 by Sky...

Background
Red Sky Energy was formed on 20 December 2001 by Sky Hunter Exploration for the purpose of holding Petroleum
Licences in the Darling Basin, that were obtained by acquiring Joint Venture interests from various parties. Sky
Hunter Exploration owned shares in the company through its wholly owned Canadian subsidiary, Red Sky Darling
Corporation Limited, a registered private company in the Province of Alberta. Pursuant to an Asset Sale Agreement
Red Sky Darling Corporation Limited sold, assigned and transferred certain assets to the Company, including the
following assets, interests and considerations:
• two Darling Basin Petroleum licences, PEL 420 and 419;
• four Darling Basin Petroleum Exploration Licence Applications;
• the Company structure and registration;
• an 18 month first option and right to use the airborne geochemical survey technology within onshore Australia (the first option and right period commencing upon the Company listing on ASX);
• a regional geochemical data set exceeding 100,000 km² of the Darling Basin;
• a detailed geochemical data set over portions of PEL 420 and 419;
• An Option to extend the 18 month exclusivity for a further period
• a data base for 760 ground geochemical samples gathered on PEL 420 and 419 in the Darling Basin; and
19,800 line km of the 2006 airborne geochemical surveys (which have now been completed)
In December 2006, the Company converted to a public company and changed its name to Red Sky
Energy Limited.

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