Highlights

  • Red Sky holds 20% working interest in 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 and a vertical well
  • Yarrow previously estimated to have a 2C contingent resource of 18BCF
  • A further 20BCF 2C of associated gas is estimated at Flax oil field, 8km to southeast of Yarrow
  • A horizontal well in Flax
  • Further exploration and evaluation of other blocks

Yarrow Gas

  • Vertical well in Santos drilling programme expected to commence in June 2022
  • Analysis of the reprocessed 2D seismic completed by Santos and a drill target was identified
  • Pipeline of approximately 20km potentially to be built to tie into grid at Napowie to south of Yarrow gas field
  • Pipeline expected to have a gross capacity of 20mmcfpd (4mmcfpd net to Red Sky)

Flax Facility

Location

  • PRL 14 Flax Oil Field
  • PRL 17 Yarrow Gas Field
  • PRL 18 Juniper Oil Field
  • PRL 180
  • PRL 181
  • PRL 182

Inventory

  • PRL 14 Greater Flax Oil Field
  • PRL 17 Linden and Birch leads
  • PRL 18 Juniper link to Flax
  • PRL 180 – updip potential
  • PRL 181 – Cypress well failed
  • PRL 182 – updip potential

Innamincka Area Cross sections

Eromanga Basin

Cooper Basin

Warburton Basin

Cooper Basin Stratigraphic Column

  • Patchawarra Fm
  • Tirrawarra Sst
  • Merrimelia Fm

Hydrocarbon Inventory

PRL14 Flax Oil & Gas Field (20%)

  • 2C 1.98 mmbbl oil
  • 2C 0.7 mmboe gas
  • Production infrastructure already built
  • Six production wells drilled
  • Produced over 180,000bbl until shut-in 2015
  • 3D seismic coverage

PRL17 Yarrow Gas Field (20%)

  • Undeveloped
  • 2C 0.6 mmboe gas
  • Three wells drilled

PRL18 Juniper Oil & Gas Field (20%)

  • Undeveloped
  • 2C 0.18 mmbbl oil
  • 2C 0.08 mmboe gas
  • Three wells drilled on structure
  • 3D seismic coverage

Source: RISC 2015 (6MCF=1BOE) Note: All oil and gas volume estimates are subject to a complete review by Red Sky

Net Contingent Resource
1C 2C 3C Red Sky Interest
  Permit Field Hydrocarbon Oil in mmbl, gas in mmboe %
Contingent Resource PRL14/18 Flax Oil 0.94 1.98 3.48 20
Gas 0.32 0.7 1.18 20
PRL 18 Juniper Oil 0.02 0.18 0.28 20
Gas 0.02 0.08 0.34 20
PRL 17 Yarrow Gas 0.4 0.6 0.88 20
Total 1.7 3.54 6.16
Source: RISC 2015 (6MCF=1BOE)
Note: All oil and gas volume estimates are subject to a complete review by Red Sky