Red Sky Energy (ROG) has completed a petrophysical analysis on the southeast apartment building of its Killanoola oil project in South Australia.
The researcher says the assessment has a strong prospect of significant reserve growth from the » promising « rental space in the Penola trough.
In the petrophysical analysis, in which physical and chemical rock properties, especially in reservoirs, are investigated, the net wage at Killanoola SE-1 was 16 meters.
Based on the find, the researcher is working on geological and geophysical Revise interpretations to redefine the volume of oil available, with planning in line with the licensing work program.
Should the test go as planned, Red Sky can book the oil reserves associated with the tenement.
« We are adding testing of this hole to our initial work program as we continue to evaluate and extract the full value of the resources at Killanoola, » he commented.
The market seems to have reacted positively to the announcement: Red Sky shares gained 50 percent and were quoted AEDT at 0.3 cents at 10:44 pm.
Related title :
– Red from Sky Energy (ASX: ROG) completes the tests in a “promising” apartment building
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