Past year: ▼ 84%(0.10c – 0.63c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
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.
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.
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.
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.
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.
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.
11 Sept 2025drilling progress report● Neutral
Construction has started at the KN2 well pad at Killanoola, with topsoil removal under way and expected to finish within two days. Cultural monitoring is on site. Follows the 8 September approval; the company says it remains on schedule for drilling.
27 June 2025drilling progress report▼ Bad
KN2 drilling is awaiting final government approvals; the company expects no significant delay. The rig originally allocated has been temporarily deployed to another operator, so the timeline is to be confirmed. This slips the late-quarter spud targeted in May.
29 May 2025farm in farm out agreement▲ GoodMajor
Binding farm-in for Killanoola's KN2 well: Condor Energy, Chawla and VB Energy fund 75% of drilling to earn 45% of the well. Red Sky keeps 55% of KN2, 100% of the rest of the licence and operatorship. Spud targeted late June quarter at the earliest, subject to approvals.
9 Apr 2025resource reserve update▲ GoodMajor
Maiden independent (PetroAus) estimates for Angola Block 6/24: Cegonha net contingent resource (2C) 5.1 MMbbl, 3C 10.8 MMbbl, plus net prospective 2U 11.0 MMbbl across three prospects. Delivers the resource review commissioned earlier; volumes are unrisked and no reserves are booked.
28 Feb 2025drilling scheduled● Neutral
Santos will begin fracture stimulation at Yarrow 1 within days, with equipment being mobilised. Expected post-frac rates are 1.6-3.6 MMscf/d, and the well is still targeted to be fully operational in Q2 2025. This follows the delay from January.
20 Dec 2024drilling progress report● Neutral
Pre-frac workover at Yarrow 1 is complete, with the 4.5-inch sleeve cemented and the rig released on 19 December 2024. Fracture stimulation is now expected in late January 2025, later than the earlier January completion target for all downhole work.
15 Nov 2024drilling progress report● Neutral
Santos has mobilised the workover rig to Yarrow 1 and begun rigging up and pre-frac scoping. Re-entry begins imminently; downhole work still due by January 2025 and the well operational in Q2 2025. This follows the October re-entry announcement.
28 Oct 2024drilling scheduled▲ GoodMajor
Santos will start the Yarrow 1 re-entry in early November 2024. A September flow test gave about 1.8 MMscf/d with high wellbore skin, so fracture stimulation is planned, targeting 1.6-3.6 MMscf/d. Downhole work due by Jan 2025, operational Q2 2025. Yarrow 3 receipts total $3m.
21 Apr 2023resource reserve update▲ GoodMajor
New 3D seismic interpretation lifts Killanoola's best-estimate oil in place to 135.5 mmbbls, up 45.7% from 93.0 mmbbls. The low case fell to 28.9 mmbbls and the high rose to 157.4. Production still needs an offtake agreement and government approvals.
21 Nov 2022drilling progress report▲ Good
Fraccing of Yarrow 3 began the previous Friday after the weather delay, expected to take about three days, followed by roughly seven days of flow testing.
28 Oct 2022drilling progress report▼ Bad
Yarrow 3 fraccing has been delayed because severe weather is stopping rigs reaching the site. No new date given. Another weather delay on Yarrow, following earlier postponements.
20 Oct 2022drilling scheduled▲ Good
Santos will frac Yarrow 3 immediately, from late October subject to weather, with a two-stage frac then flowback to assess it as a producer. If successful, next steps are fracing Yarrow 1, then an 18km pipeline and possibly more 3D seismic.
29 Sept 2022drilling result▲ Good
Santos finished Yarrow 3 with no incidents: casing set at 2,744.5m, well suspended and rig released. Gas is indicated in the Patchawarra and Tirrawarra, and the logging data will now be evaluated to set the forward plan. Restates results already reported.
26 Sept 2022drilling result▲ GoodMajor
Yarrow 3 reached 2,748m and preliminary logs show gas in both the Tirrawarra sandstone and Patchawarra formation, with some results above 8% porosity and 50% hydrocarbon saturation. The well will be cased and suspended as a potential producer. Flow rates are not yet known.
21 Sept 2022drilling progress report▲ Good
Santos was drilling Yarrow 3 ahead at 2,384m. At the current rate, the 2,720m target depth was expected to be reached within about 24 hours, and no results had been reported yet.
16 Sept 2022drilling spud▲ GoodMajor
Santos began drilling the Yarrow 3 gas appraisal well on 15 September 2022, after months of delays. Planned depth is about 2,700m over two weeks, with Red Sky free carried up to $3m. Pipeline route is now approved; Yarrow 2C resource is 18 bcf.
5 May 2022resource reserve update▲ GoodMajor
Independent report lifts Killanoola best-estimate oil in place from 7 to 93 mmbbls (up 1228%), and net 2C contingent resource from 2.8 to 27.9 mmbbl. Lab tests showed a highly waxy crude (pour point 36°C), so recovery factor was cut from 40% to 30%.
2 Mar 2022drilling progress report▲ Good
Killanoola 3D seismic acquisition finished on schedule; data now goes to processing and interpretation. Red Sky has begun planning to contract a rig and perforate extra zones at DW1 and SE1, and is exploring early production from DW1's existing 5m of pay.
16 Dec 2021drilling scheduled● Neutral
Santos plans to start drilling the Yarrow 3 gas well in the last week of 2021, fully funded by Santos with Red Sky free carried. Planned depth is about 2,700m, taking roughly two weeks. Yarrow's 2C contingent resource is 18 bcf.
