- Australian oil and gas explorers Red Sky Energy (ROG) completes the purchase of seismic survey at its Killanoola oil field in South Australia
- The energy company said the seismic results will now be processed and interpreted before it is released to shareholders
- Planning is now underway to contract a rig and for the wireline perforation of the additional zones of interest identified at both DW1 and SE1
- On the market, Red Sky is up 16.7 per cent and is trading at 0.7 cents per share
Oil and gas explorers Red Sky Energy (ROG) has completed the acquisition of the seismic survey at Killanoola oil field in South Australia.
The energy company said the seismic results will now be processed and interpreted before it is released to shareholders.
Earlier this month, in Red Sky’s quarterly, the company announced that the seismic acquisition started and an associated activity license was granted surrounding the PRL13 licence, AAL295.
The grant allowed the seismic acquisition to exceed the licence limits by approximately 5 square kilometres, to better facilitate and improve the imaging.
“Red Sky is pleased to have completed the 3D seismic acquisition programme which was achieved on schedule and with minimal down time,” Managing Director Andrew Knox said.
“The seismic survey will greatly assist in unlocking additional resources and the planning for the comprehensive Killanoola full field development. Next steps are to bring a rig in and perforate the additional zones of interest.”
Planning is now underway to contract a rig and for the wireline perforation of the additional zones of interest identified at both DW1 and SE1. This will be followed by production testing and potentially long term production.
On the market, Red Sky was up 16.7 per cent and is trading at 0.7 cents per share at 11:15 am AEDT.