Past year: ▼ 84%(0.10c – 0.63c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
1 Sept 2026security holder rights change● Neutral
The small shareholding sale facility finished: 3,610 holders sold 349.7m shares at 0.1c for $349,728, and 296 chose to retain. Holders fell from 5,453 to 1,819 (about 67%), cutting registry costs. Share capital is unchanged at 10,570m.
31 Aug 2026drilling spud▲ GoodMajor
Yarrow 4 spudded on 31 August 2026, about 10 days of drilling expected, with Yarrow 5 to follow from the same pad. This starts the two-well Yarrow program (Red Sky 20%) after weather delays from the July target; results are still to come.
28 Aug 2026drilling scheduled● Neutral
Yarrow pad civil works are complete and Santos's Rig 184 is mobilising after rain delays, with Yarrow 4 spud set for 31 August. Willowie 2 spud has slipped again, from mid-October to late October 2026. Red Sky holds 20%; dates are estimates.
11 Aug 2026drilling scheduled▼ Bad
Yarrow 4 spud is now estimated for late August 2026, with Yarrow 5 immediately after; earthworks were delayed by rain. Willowie 2 has access approval, with spud estimated mid-October. Timing slips from the July target; Santos advised these dates.
30 July 2026quarterly activities report● Neutral
June 2026 quarter: Yarrow receipts $1.045m, 82% from gas. Cash was $6.17m after the placement and rights issue. Site works have been hampered by weather, and drilling is now expected in August, later than the July guided on 4 June.
26 June 2026security holder rights change● Neutral
Red Sky set up a sale facility for holdings worth under $500 (under 500,000 shares at 0.1c); about 74% of shareholders are in this group. Shares not retained by 19 August 2026 may be sold at 0.1c, with CPS underwriting up to $420,000. Aims to cut register costs.
4 June 2026drilling scheduled▲ Good
Site works began at the Yarrow field for the Santos-operated campaign: Yarrow 4 and 5 from one dual-well pad, plus Willowie. Drilling is expected to start July 2026, subject to scheduling. Red Sky holds 20%. Follows the April AFEs.
25 May 2026capital raising announcement▲ GoodMajor
Rights issue closed with acceptances for 2,461m shares ($2.46m); the remaining 1,687m shares ($1.69m) were shortfall, covered by the underwriter. Related parties took up in full. All shares issued 25 May, completing the ~$4.2m raising at 0.1c.
11 May 2026capital raising announcement● Neutral
The rights issue closing date was extended from 14 May to 20 May 2026, with issue now due 25 May. The board says this gives eligible shareholders more time; the offer remains fully underwritten by CPS Capital.
29 Apr 2026other● Neutral
Standard notice to shareholders outside Australia, New Zealand and the UK that they are ineligible for the rights issue. Administrative only, with no new information.
29 Apr 2026capital raising announcement● Neutral
Rights issue offer booklet and entitlement forms were dispatched to eligible shareholders on 29 April 2026. The offer remains 2-for-3 at 0.1c to raise up to about $4.2m. Administrative step in the existing raising.
28 Apr 2026quarterly activities report● Neutral
March 2026 quarter: Yarrow gross receipts were $1.09m, 91% from gas. Cash at 31 March was $2.07m, with the placement and rights issue expected to add about $5.2m. Willowie and Yarrow AFEs signed; KN2 and DW1 workover planning continued; board pay cut 25%.
21 Apr 2026capital raising announcement● Neutral
Offer booklet for the 2-for-3 rights issue at 0.1c, up to about 4.15bn new shares (~$4.2m), fully underwritten by CPS Capital. Existing shares on issue are stated as 6,222,227,197. Implements the 31 March raising; no new terms beyond the booklet.
13 Apr 2026farm in farm out agreement▲ GoodMajor
Red Sky signed a binding AFE with Santos for the Willowie appraisal well in PRL18, next to Yarrow. Gross cost is about A$8.7m, Red Sky's 20% share about A$1.75m. Internal estimates are 2.13 MMscf/d initial rate and 3.09 Bcf recovery (100% basis, P50); not guaranteed.
10 Apr 2026capital raising announcement● NeutralMajor
CPS Capital has fully underwritten the ~$4.2m 2-for-3 rights issue at 0.1c, and entities tied to Knox and Wing will sub-underwrite $1.0m in total. The board cut directors' fees and salary by 25% and reduced staff. This firms up the March raising's funding.
2 Apr 2026agm notice● Neutral
The AGM is set for 28 May 2026, with director nominations closing on 9 April 2026. Administrative notice only.
1 Apr 2026farm in farm out agreement▲ GoodMajor
Red Sky signed a binding AFE with Santos for two Yarrow development wells, keeping its 20% interest; the first well is expected to start imminently. Its share is about $2.0m, funded by the $1.0m placement and the rights issue. Follows the March capital raising.
31 Mar 2026annual report● Neutral
Annual report for 2025. The MD's letter says Yarrow 1 more than doubled gas output, the gas contract was renegotiated and extended, and Angola participation was ratified. KN2 was disappointing, with only the upper zone appearing oil-bearing. Further Yarrow wells are planned this year.
31 Mar 2026other● Neutral
Appendix 4G and corporate governance statement for the year to 31 December 2025, a routine administrative filing with no new operational or financial information.
31 Mar 2026capital raising announcement● NeutralMajor
Red Sky raises $1.0m via a placement of 1,000m shares at 0.1c, plus a 2-for-3 rights issue at 0.1c to raise up to ~$4.2m. Funds go to three Santos-operated Innamincka wells, Killanoola workover and working capital. Issue price is well below the 0.8c 2021 placement. Directors take 200m placement shares, subject to shareholder approval.
What it means for a shareholder
1.00bn new shares at A$0.001 to raise about A$1.0m. That's 18% dilution: every existing holder's slice gets 18% smaller. If you held A$1,000 of shares (1,000,000 at the issue price), your slice goes from 0.0215% to 0.0177% of the company. To keep it you'd need 215,451 more shares - about A$215 at the issue price.
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27 Jan 2026quarterly activities report● Neutral
December 2025 quarter: receipts $0.63m; Yarrow 3 total receipts $5.5m since August 2023. Yarrow 1 came online; the Origin gas contract extension was finalised. KN2 was suspended with workover and stimulation planned. Interpretation of the Innamincka 3D seismic is complete, with drilling expected in 2026.
18 Nov 2025production update▲ GoodMajor
Yarrow 1 began producing on 15 November 2025, earlier than guided, at an initial ~2.4 MMscf/d against a 1.6 MMscf/d AFE P50 expectation. Early rates are not long-term. Resolves the months-long delay; Red Sky holds 20%.
7 Nov 2025production update▲ Good
Santos expects to finish Yarrow 1 completion by 9 November and the tie-in flowline by 16 November, with first gas by 18 November 2025. Red Sky (20%) says it should more than double Innamincka production. Follows the flooding delays earlier in 2025.
3 Nov 2025drilling result▼ BadMajor
KN2 at Killanoola reached 1,044 m; logs show hydrocarbons in the Upper Sawpit Sandstone but with low permeability and high water saturation, similar to earlier wells. Drill stem tests were skipped and the well was cased and suspended; stimulation is under review. A disappointing appraisal result.
29 Oct 2025drilling progress report● Neutral
KN2 reached total depth of about 1044 m without incident, targeting the Sawpit Sandstone. Wireline logging comes next, then drill stem tests on zones of interest. No oil result yet; the outcome is still to come.
27 Oct 2025drilling spud▲ GoodMajor
KN2 at Killanoola was spudded on 24 October 2025, ending the months of approval and rig delays. The surface hole was drilled and cased to about 365 m. The 8-1/2 inch production hole is planned to about 1050 m. Red Sky has 55% of the well.
27 Oct 2025quarterly activities report● Neutral
September 2025 quarter: Yarrow 3 receipts about $0.4m. Yarrow 1 flowline and first gas still targeted for Q4 2025. KN2 pad built and well spudded 24 October. Angola contract signed. Cash $1.8m, down from $2.27m.
23 Oct 2025regulatory community update▲ Good
South Australia's energy department approved drilling of KN2 on 22 October. This was the last approval outstanding after months of delay. Condor is mobilising remaining services, with the spud expected within days.
22 Oct 2025drilling progress report● Neutral
After regulator approval on 21 October, a 14-inch surface conductor was installed and cemented to 15.4 m at KN2. Red Sky is still waiting for approval of the full drilling programme, expected in the coming days.
20 Oct 2025drilling progress report▲ Good
The Condor rig and equipment are on site at the KN2 well, the regulator's site inspection raised no issues, and the drilling programme has been submitted for final approval. Drilling should start shortly after; about nine days to drill, case and suspend. A separate workover rig will then complete KN2.
