HIGHLIGHTS
Maiden resource estimates completed for Block 6/24, Offshore Angola, in which Red Sky holds a
35% working interest.
Net Contingent Resource (2C) of 5.1 million barrels (MMbbl) and Net 3C contingent resource of 10.8
MMbbl booked for the Cegonha oil field in the Cegonha Cluster Area (Red Sky’s 35% working
interest share).
Net Prospective Resource (2U) of 11.0 MMbbl for 3 additional prospects identified in the Cegonha
Cluster Area and known as IBIS, D2 and B2 (Red Sky’s 35% working interest share).
Independent petroleum consulting firm PetroAus conducted the resource assessment
The Cegonha Oil Field is positioned for rapid appraisal and development, with a clear pathway to
early production and cash flow generation.
Based on encouraging oil shows from pre-existing wells in Block 6/24, from both the pre-salt and
post-salt formations, further exploration potential will be evaluated within the Cegonha Cluster
and elsewhere in Block 6/24.
Initial studies indicate the possibility of a pre-salt structure beneath the Ibis prospect, which will
be matured as part of the forward work program.
Red Sky Energy Limited (Red Sky or the Company) is pleased to provide an update on the
evaluation of the Cegonha Cluster Area in Block 6/24, offshore Angola, where the Company holds a 35%
participating interest alongside Sonangol E&P (50%) and ACREP (15%).
Following the signing of the Risk Service Contract (RSC) on 31 December 2024, Red Sky has completed a
comprehensive technical and economic review of the block, incorporating new seismic interpretation and
petrophysical analysis, and commissioned a resource estimation by independent petroleum consulting firm
PetroAus.
This assessment has refined resource estimates, identified additional upside potential, and provided a
strong foundation for future appraisal and development decisions.
The technical work undertaken also identified the presence of secondary porosity (fractures and/or vugs) in
the Catumbela reservoir of the Cegonha well, potentially enhancing connectivity and recovery factors –
Note: offset well, Falcao-1 (on Block, South-West of the Cegonha Field) reported the presence of oil from
the pre-salt at the surface shakers, which was attributed to fractures. Analysis is ongoing.
Managing Director Andrew Knox commented:
"The latest evaluation of the Cegonha Cluster Area confirms its significant oil resources potential. Our
technical studies indicate high-confidence hydrocarbon-bearing zones, and we are now focused on
advancing appraisal activities and unlocking value from this asset. We see substantial upside in the nearfield prospects and pre-salt potential, which could further enhance the economics of Block 6/24.
With our JV partners, Sonangol and ACREP, we remain committed to progressing exploration, de-risking
development, and delivering long-term value for our shareholders. With a material existing discovery, a
growing pipeline of prospects, and exposure to underexplored pre-salt potential, Block 6/24 represents
a cornerstone growth asset for Red Sky. The Company remains focused on progressing toward
commercialisation and delivering value from its strategic position in one of West Africa’s most
prospective offshore basins”