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13 December 2010 P a g e | 1
EXPLORATION UPDATE
�� Talma #1 coring complete
�� Total net 23.5 metres of gassy coal
�� Expected major upgrade in resource
The directors of Red Sky Energy Limited (?Red Sky? or ?the Company?) are pleased to advise an update on the
Clarence Moreton drilling program.
Coring of Talma #1 well in PEL 457 has been completed and TD (total depth) of 836 metres reached. The net
total thickness of coal is 23.5 metres across 29 seams.
The table below indicates the seam depth and thickness for the Talma #1 well. Core samples have been taken
from each of the 29 Seams for gas desorption (gas content) testing. Core samples were also taken of the
underlying Koukandowie Formation, which is a tight gas play. These cores are already desorping measurable gas
which is positive sign for producibility.
Wireline and permeability testing is underway.
The initial reserves certification issued on 15th November estimated net 15 metres of coal for the area in PEL 457
around Talma #1. With these latest results, it is expected the recoverable resource will be increased by at least
500 PJ. This will be confirmed once the updated reserves certification is undertaken in first quarter 2011.
Refer map below for well location.