JBmurc
24-09-2019, 07:36 PM
OIL&GAS
Cooper Basin + US shale
S/P- .3c
Mktcap-3.75mill (will increase $4-5mill+ with new CR shares)
Cash -$750k+(with new placement CR)
Great J/V deal pushes ROG production profile forward with STO funding 100% of ROG Innamincka Project for 20% free carry for ROG ...
Red Sky Energy subsidiary Red Sky Energy (NT) Pty Ltd has entered into a Farmout Agreement with Santos Ltd (ASX: STO) subsidiary Santos QNT Pty Ltd in relation to Red Sky’s Cooper Basin licences PRLs 14, 17, 18, 180, 181 and 182 to inject A$9m in capital into Red Sky’s Innamincka Dome projects
• This transaction accelerates the development strategy for Flax and Yarrow projects with a well-capitalised partner
• The terms of the Agreement provide for Santos to earn an 80% interest (and operatorship) in Red Sky’s Cooper Basin licences (collectively known as the Innamincka Dome), along with the following considerations:
o Fund 100% of 50km2 of 3D seismic over the Yarrow gas field in PRL17, up to a maximum gross cost of A$1.0 million
o Fund 100% of an appraisal well in the Yarrow gas field up to a maximum gross cost of A$3.0 million o Fund 100% of an appraisal well in the Flax oil and gas field in PRL14, up to a maximum gross cost
of A$5.0million
19/06/2019 near term revenues announcement
• Flax Project contains a 2C Contingent Resource of 9.9 million barrels of oil
• Six wells have historically produced over 180,000 barrels of oil grading 54 API
• AUD price for a barrel of oil grading 54 API currently around A$100 per barrel FOB well head
• Focus on restarting operations using existing six production wells given very low capex and
streamlined timetable option as a result of existing wells and substantial in place
infrastructure
• Enhanced Oil Recovery (EOR) options being considered for second phase development that if
proven may substantially increase recoverable oil
My rough numbers for ROG = 20% = 1.98Mb oil =$198mill AUD + GAS + exploration upside
certainly great upside from 4.5-5mill AUD ... great 10-20 bagger potential here under STO lead
Disc -Holding 6mill ROG10779
Cooper Basin + US shale
S/P- .3c
Mktcap-3.75mill (will increase $4-5mill+ with new CR shares)
Cash -$750k+(with new placement CR)
Great J/V deal pushes ROG production profile forward with STO funding 100% of ROG Innamincka Project for 20% free carry for ROG ...
Red Sky Energy subsidiary Red Sky Energy (NT) Pty Ltd has entered into a Farmout Agreement with Santos Ltd (ASX: STO) subsidiary Santos QNT Pty Ltd in relation to Red Sky’s Cooper Basin licences PRLs 14, 17, 18, 180, 181 and 182 to inject A$9m in capital into Red Sky’s Innamincka Dome projects
• This transaction accelerates the development strategy for Flax and Yarrow projects with a well-capitalised partner
• The terms of the Agreement provide for Santos to earn an 80% interest (and operatorship) in Red Sky’s Cooper Basin licences (collectively known as the Innamincka Dome), along with the following considerations:
o Fund 100% of 50km2 of 3D seismic over the Yarrow gas field in PRL17, up to a maximum gross cost of A$1.0 million
o Fund 100% of an appraisal well in the Yarrow gas field up to a maximum gross cost of A$3.0 million o Fund 100% of an appraisal well in the Flax oil and gas field in PRL14, up to a maximum gross cost
of A$5.0million
19/06/2019 near term revenues announcement
• Flax Project contains a 2C Contingent Resource of 9.9 million barrels of oil
• Six wells have historically produced over 180,000 barrels of oil grading 54 API
• AUD price for a barrel of oil grading 54 API currently around A$100 per barrel FOB well head
• Focus on restarting operations using existing six production wells given very low capex and
streamlined timetable option as a result of existing wells and substantial in place
infrastructure
• Enhanced Oil Recovery (EOR) options being considered for second phase development that if
proven may substantially increase recoverable oil
My rough numbers for ROG = 20% = 1.98Mb oil =$198mill AUD + GAS + exploration upside
certainly great upside from 4.5-5mill AUD ... great 10-20 bagger potential here under STO lead
Disc -Holding 6mill ROG10779