Red Sky Energy Limited · ASX:ROG
Red Sky Energy — Corporate Update (December 2020)
18 slides from Red Sky Energy's corporate update, Dec 3, 2020
Slide 1: Red Sky Energy: Killanoola Oil Field Acquisition
Red Sky Energy: ROG-ASX Killanoola Oil Field Acquisition December 2020
Slide 2: Disclaimer & Important Notice
DISCLAIMER & IMPORTANT NOTICE • Various statements in this document constitute statements relating to intentions, future acts and events. Such statements are generally classified as forward looking statements and involve known risks, expectations, uncertainties and other important factors that could
Slide 3: Red Sky Snapshot
Red Sky Snapshot • ASX Code: ROG • Ordinary Shares 2036M • Shareholders 2567 • Market Capitalisation $4.0M • Share Price $0.002 • Top 20 Shareholders 954M (46.6%) • Top 2 Shareholders: D Nestor et al – 9.7% Cashmere Dell Pty Ltd – 5.5%
Slide 4: Directors Executives
Directors Executives Andrew Knox B Com ANDREW KNOX B Com Executive Director Chief Executive Officer/Managing Director 35 years experience, oil & gas CLINTON CAREY B Com Joined ROG in 2018 Non-Executive Director Resource developer BILL LODWICK B Sc Exploration & Development Manager ADRIEN WING B Com
Slide 5: Current Position
Current Position • Free carry by Santos in Innamincka Project • SE Asia/Australia Focus Area - obtaining spread of assets • Development and cash-flow led • Solid platform for growth • Gold Nugget gas field • E&P company on the ASX known by peers and market • Clean balance sheet
Slide 6: Killanoola Opportunity
Killanoola Opportunity • ROG has finalised a purchase agreement for the Killanoola Oil field (PRL-13) from Beach Energy • The SPA deadline is late February 2021 (120 days) • STOIIP ranges up to 7 million barrels • Recoverable oil ranges up to 40% or 2.8 million barrels • Killanoola has passed throug
Slide 7: PRL 13 location
e RED 6 SKY. @@e@ ENERGY. PRL 13 location 7 KATNOOK Location of PRL-13 and nearby oil and gas fields a 155 |
Slide 8: Economic Assumptions
Economic Assumptions • Oil Price USD45/bbl (flat real) • Starting Production rate 300 bopd per well (decline 15% p.a.) • Wells Start with 1 (up to 6 producers high case) • Oil Originally In Place 7 million bbls • Best Estimate recoverable 2.8 million bbls (3 wells, 40% Recovery Factor) • Opex $0.75m
Slide 9: PRL 13 summary
PRL 13 summary Top Sawpit Sandstone Time Map x Killanoola + Two-way dip two-way fault closure + Discovery well Killanoola-1 drilled in 1999 * Killanoola-1 DW-1 drill 1999 + Flowed on DST at 118 bopd * Suspended as future production well Killanoola South + Two-way dip two-way fault closure * Remains
Slide 10: Field History
Field History • Field was discovered in 1998 by the Killanoola-1 well • Discovery well was deviated to an up-dip position by the Killanoola-1 Dw-1 well and a drill stem test produced about 120 bopd • A second well Killanoola SE-1 was drilled in 2011 to test a separate fault block. A production test
Slide 11: PRL 13 potential
PRL 13 potential • The Killanoola South • Killanoola-1 can be block is untested and brought back into has the same geological production quickly setting as Killanoola-1 • ROG plans to engage a and SE-1. ROG aims to proven enhancement drill this prospect after technology to increase testing Killanool
Slide 12: Reserves Summary from Previous Operators
Reserves Summary from Previous Operators • Beach Energy estimated reserves at: • P90= 500,000 bbls, • P50= 2,900,000 bbls • P10= 6,700,000 bbls • Essential Petroleum (EPR) stated: • 7 million bbls in place • 800,000 bbls recoverable (only 14%)
Slide 13: Technical Data
Technical Data • 2D seismic – No 3D. ROG plans to acquire 3D before drilling any new wells • Well data, small amount of production data • Geological and petrophysical data • Shallow relatively inexpensive drilling to reservoir
Slide 14: Other interests
Other interests • ROG holds a 20% working interest in the Innamincka Dome Project • ROG holds a 100% working interest in the Gold Nugget-1/23 gas field and pipeline in Wyoming, USA • ROG is actively engaging with various companies worldwide to acquire producing assets
Slide 15: Innamincka Dome
Innamincka Dome • ROG holds 20% working interest in the six PRLs. • Santos, the operator, holds the other 80%. • Commitments include: a new 3D over the Yarrow gas field & a vertical well • A horizontal well in Flax • Further exploration and evaluation of other blocks
Slide 16: Yarrow Gas
Yarrow Gas • Vertical well in Santos drilling programme to be drilled in 2nd half 2021 • Probable locations identified already • Reprocessed 2D seismic will confirm final well location after interpretation • 20km 4in. pipeline to tie into Napowie with circa 20mmcfpd capacity
Slide 17: Gold Nugget Gas
Gold Nugget Gas • ROG holds 100% working interest in the gas well and the gas pipeline • Planned well intervention to improve production • Potential to produce during winter months • Engaging with nearby operators regarding future exploration and development activities • Looking to farmout new explo
Slide 18: Thank You For Your Attention
THANK YOU FOR YOUR ATTENTION