The Killanoola oilfield was discovered by the Killanoola-1 well...

The Killanoola oilfield was discovered by the Killanoola-1 well in 1998 at a depth of 850 metres. The oil is a 34° API waxy crude. Previous flow tests of the well have recorded rates of up to 300 bopd.A petrophysical report commissioned by Red Sky on the Killanoola-1DW-1 well identified potentially 37 metres of additional oil bearing pay zones within the 149 metre thick Sawpit Sandstone. This evaluation adds significantly to the currently perforated pay zone of 5 metres. Red Sky is now working to revise the work programme to include testing of the newly identified pay zones. (See ASX Announcement 6 May 2021)These results followed the recent result of 16m of Net Pay for the Killanoola SE-1 well (See ASX Announcement 22 March 2021).Red Sky is preparing to perforate and test these newly identified pay potential zones in the wells. Planning is underway in line with our forward programme. This testing, if successful, will allow Red Sky to book reserves associated with Killanoola-1DW-1 and Killanoola SE -1.

HighlightsRed Sky Energy Limited holds 20% working interest in the six PRLs (14, 17, 18, 180, 181, 182)Santos, the operator farmed in, holds the other 80%Farm-in commitments include: a new 3D over the Yarrow gas field & a vertical wellA horizontal well in FlaxFurther exploration and evaluation of other blocksYarrow GasVertical well in Santos drilling programme to be drilled in Q4 2021Probable location identified alreadyReprocessed 2D seismic has confirmed final well location after interpretation20km 4in. pipeline to tie into Napowie with circa 20mmcfpd capacity

Lets say this is all proven and more discovered,. Would you sell at 10c ?? Im going go long on this 2025