ANYONRECALL THIS ANNOUNCEMENT!!!Are we still waiting for the...

ANYONRECALL THIS ANNOUNCEMENT!!!

Are we still waiting for the fulfilment of AK,s undertakings? Or has the undertaker taken over??

[email protected] www.redskyenergy.com.au

ASX ANNOUNCEMENT 29 July 2021

SA GOVERNMENT APPROVAL RECEIVED TO COMMENCE OPERATIONS AT

KILLANOOLA PRL13 SOUTH AUSTRALIA

HIGHLIGHTS

• SA DEMapproval received to commence operations at Killanoola PRL13

• Activityto begin immediately to test rods in the DW-1 well are free moving

• Surfacepump to be recommissioned and production to be restarted

• Rig to be brought in to commenceperforation work and complete both the DW1 and SE1 wells as producers

Australian Oil and Gas explorer and developer, Red Sky Energy (ROG: ASX) (Red Sky or the Company) is pleased to advise that it has received approval fromthe Government of South Australian (SA)Department for Energy and Mining (DEM)to commence operations at the Killanoola Oil Project (Killanoola) located in the Penola Trough, South Australia, withinRed Sky’s newly acquired PRL13.

Thisfollows an announcement on 17 May 2021 of a successful inspection of the surface pump atthe Killanoola – 1 DW-1. The inspection of the above ground linear rod pump (LRP) at the Killanoola-1 DW-1 well sitewas undertaken where the internal components of LRP were found to be in goodcondition and mechanically sound. The control box and the electrical systemincluding the motor have been scheduled for recommissioning if the rod test issuccessful.

Withthis Government approval, the rod components can be checked and potentiallydeclared fit for purpose. Post this certification, Red Sky is planning a shorttest run and if the testing performs well, the pump will be turned on for anextended production test. During that period Red Sky will be able to ascertainmore about the quality of the oil, the reservoir and also test enhanced oilrecovery solutions.

Oncethis test period is completed Red Sky will re-enter the well to perforate thenewly identified 37 metres of potential pay as well as the 16 metres ofpotential pay identified at SE-1. If successful, this should increaseproduction rates significantly.

Commenting on the approval, Red Sky Managing Director, Andrew Knox,said:

“TheRed Sky team is very pleased to have received government approval to commenceoperations and test the rods at DW-1. Further approvals will be required as weprogress, but next steps post this testing in the short term arerecommissioning the pump and acquiring topside equipment. We are pushing toextract full value from the resources at Killanoola as soon as possible.”

Red Sky Energy ACN 099 116 275ASX: ROG Level 2 480 Collins Street Melbourne Victoria 3000 Contact T: +61 3 9614 [email protected] www.redskyenergy.com.au

ASX ANNOUNCEMENT 29 July 2021

The Killanoola Project

TheKillanoola oilfield was discovered by the Killanoola-1 well in 1998 at a depthof 850 metres. The oil is a 34° API waxy crude. Previous flow tests of the wellhave recorded rates of up to 300 bopd.

Apetrophysical report commissioned by Red Sky on the Killanoola-1DW-1 wellidentified potentially 37 metres of additional oil bearing pay zones within the149 metre thick Sawpit Sandstone. This evaluation adds significantly to thecurrently perforated pay zone of 5 metres. Red Sky is now working to revise thework programme to include testing of the newly identified pay zones. (See ASXAnnouncement 6 May 2021)

Theseresults followed the recent exceptional result of 16m of Net Pay for theKillanoola SE-1 well. (See ASX Announcement 22 March 2021).

RedSky is preparing to perforate and test these newly identified pay potentialzones in the wells. Planning is underway in line with our forward programme.This testing, if successful, will allow Red Sky to book reserves associatedwith Killanoola-1DW-1 and Killanoola SE -1.

-ENDS-

Releasedwith the authority of the board.

For furtherinformation on the Company and our projects, please visit:

www.redskyenergy.com.au

	For more information: Andrew Knox Managing Director +61 407 356 557 [email protected]	Mark Flynn Investor Relations +61 416 068 733 [email protected]