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Red Sky Energy identifies potential gas resource in Clarence Moreton Basin

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Red Sky Energy (ASX: ROG) has its eye on near term production, and has identified the potential for a significant gas resource contained within the Kangaroo Creek sandstones in the Clarence Moreton Basin.

Red Sky said analysis of cores within the sandstone are laterally extensive, gassy in the depth interval from 480 metres to 563 metres and could flow gas to surface un-stimulated at rates that could be economic.

Based on these positive results, Red Sky has proposed a single well pilot be implemented adjacent to the Talma #1 well site, and post approvals, the company plans to drill the pilot well during June/July 2011 and have the pilot operating in August/September 2011.

Rohan Gillespie, managing director, said "The results to date have been very encouraging for a viable resource.

"We are keen to test this play as soon as possible and demonstrate its ability to produce gas.”

Gillespie has significant experience in the sector, considering his previous experience as vice president and chief operating officer in charge of BHP Billiton's (ASX: BHP) coal seam gas business, and joined Red Sky as executive director in January 2010. 

The Red Sky company strategy is to build into a significant player in the rapidly expanding coal seam gas industry in Australia.

 

Quick facts: Red Sky Energy Limited

Price: 0.003 AUD

ASX:ROG
Market: ASX
Market Cap: $4.7 m
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