ROG - Red Sky Energy

[bigdog]

There have been many announcements over the past three weeks of drilling for gas and oil at ROG.

http://www.asx.com.au/asx/statistic...og&timeFrameSearchType=D&releasedDuringCode=M

17/08/2007 STU: Drilling Report - Doriemus 1, Rainbird 1, Worrior 5
17/08/2007 MGN Weekly Drilling Report
16/08/2007 Rainbird-1 Drilling Update
16/08/2007 Drilling Report - Doriemus 1, Rainbird 1, Worrior 5
15/08/2007 STU: Drilling Report - Doriemus 1, Rainbird 1, Worrior 5
14/08/2007 STU: Drilling Report - Doriemus 1, Rainbird 1, Worrior 5
13/08/2007 STU: Drilling Report - Doriemus 1, Rainbird 1, Worrior 5
10/08/2007 Rainbird-1 Drilling Update
10/08/2007 Darling Basin Seismic Program Completed
10/08/2007 STU: Drilling Report - Doriemus 1, Rainbird 1, Worrior 5
09/08/2007 STU: Drilling Report - Doriemus 1, Worrior 5, Rainbird 1
08/08/2007 Initial Director`s Interest Notice - Bryan Quinn
08/08/2007 STU: Doriemus 1 Rainbird 1 and Worrior 5 Drilling Reports
08/08/2007 Rainbird-1 Spudded
08/08/2007 MGN: Rainbird 1 Spuds
07/08/2007 STU ann: Progress Report
06/08/2007 Rights Issue of Options - Prospectus
06/08/2007 Doriemus 1, Rainbird 1, Worrior 5 Drilling Reports
03/08/2007 STU: Drilling Program - Rainbird 1
02/08/2007 Magellan Farms In with Red Sky on PEL 93
01/08/2007 Bryan Quinn appointed as Managing Director
31/07/2007 Quarterly Cashflow Report
27/07/2007 Quarterly Activities Report
27/07/2007 Corporate Profile Presentation

SP ROG $0.155 @ 17-Aug 11:44:37
52-wk High $0.2100
52-wk Low $0.1400
Market Cap: $8,235,545
Issued Shares: 53,132,549
Security type Ordinary (1)
First listed 23 May 2007
First traded 04 May 2007

ROG is participating with
STU: STUART PETROLEUM LIMITED
COE: COOPER ENERGY LIMITED
MGN: MAGELLAN PETROLEUM CORPORATION.

I hold ROG

 

[bigdog]

The following article could be a turn for the better for ROG!!!!
-- I thought that they were light on cash last year!!
-- are there any opinions??

http://www.oilvoice.com/n/Red_Sky_E...eam_Gas_Project_In_Surat_Basin/ff07600bc.aspx

Red Sky Energy to Acquire Interest In Significant Coal Seam Gas Project In Surat Basin
Saturday, August 01, 2009

Red Sky Energy Limited has entered into an agreement to acquire 100% of the issued capital of Cydonia Resources Pty Limited (“Cydonia” or “CRL”) that has the rights to earn up to 100% interest in two CSG permits in the highly prospective Surat Basin, Queensland region of Australia.

Key Points:
• Red Sky Energy to acquire up to 100% interest (via a Farm In) in highly prospective Coal Seam Gas (“CSG”) permits;
• The permit areas cover approximately 1700km² in the highly prospective Queensland Surat Basin;
• The permits are well positioned with the major gas fields of Origin/Conoco and BritishGas/Queensland Gas Company only 70km to the north east;
• There is potential to host combined in place gas resources of 8 Trillion Cubic Feet (TCF) of Coal Seam Gas (CSG);
• Experienced exploration and management team led by Rohan Gillespie, former Vice President and Chief Operating Officer BHP Billiton’s CSG business;
• Aggressive exploration program planned;
• Commitments to raise $4m via a placement of 200 million shares @ 2 cents each.

CRL has the sole right to Farm In to the non-conventional rights of Authorities to Prospect (“ATP”) 840 and 904 (“the CSG Project” or “the Project”). The permit areas cover an approximate area of 1700km², are located close to existing and planned gas infrastructure and adjacent significant acreage positions held by the major CSG/LNG companies.

Red Sky is proposing subject to certain terms and conditions to acquire CRL through the issue of 150 million fully paid Red Sky shares (“Shares”) together with 150 million Red Sky unlisted options (“Options”) exercisable at A$0.04 each within five years after the date of issue to the shareholders of CRL (“the Transaction”). On closing of the Transaction CRL will become a wholly owned subsidiary of Red Sky.

The shareholders of CRL will also be entitled to receive an additional 150 million fully paid Red Sky shares if specific milestones are met and achieved within a set period. Further details of the agreement to acquire CRL and the terms of the Farm In rights secured by CRL are set out in the annexure to this release.

The Company will also undertake a placement of 200 million new fully paid Red Sky shares at an issue price of $0.02 per share to raise A$4 million (“Placement”). The Company has received commitments from a number of brokers to complete the Placement. The lead manager for the Placement is Indian Ocean Capital. The Company will apply for quotation of the Placement shares on the ASX.

The permits cover approximately 1700km² in highly prospective Queensland Surat Basin, the most sought after gas exploration address in Australia due to its potential to host substantial CSG resources. The permits lie in the sparsely explored Taroom Trough, where it is thought a major new CSG play comprising Cretaceous age coals could be present within the Bungil Formation.

The Cretaceous coals show in old wells that were targeting deeper plays, with some well completion reports indicating the coals are gassy. The Bungil Formation shows significant lateral extent across the area with thickening over the Taroom Trough.

The CRL technical evaluation, based on the available public data and comparable net to gross coal thicknesses and gas contents within the Surat Basin indicates the permits potential recoverable resource across the Project is 8 TCF. Furthermore, the permits could contain coals of potentially similar CSG potential to those that were recently sold by Pangaea Resources to Origin for $650m.

On discovery of a significant CSG resource the Project would have numerous development/exit options available to it given the infrastructure in close proximity to the Project. The northern boundary of ATP 840 is only 70kms from the Roma to Brisbane pipeline and the proposed route for the Wallumbilla to Newcastle pipeline passes through ATP 904.

Exploration of the Project will be led by Rohan Gillespie (Managing Director of CRL) and the team at CRL who have industry leading expertise in CSG exploration and gas commercialisation. Rohan Gillespie led BHP Billiton’s CSG business as Vice President and Chief Operating Officer. Subsequently he established Energy Infrastructure and Resources Limited (EIR) to undertake corporate advisory work and develop low emission energy businesses.

EIR is a major shareholder in CRL and will manage the CRL work program under a services agreement. At completion of the transaction and Placement, Rohan Gillespie will be invited onto the Board of Red Sky as Managing Director.

This Project represents a major growth opportunity for Red Sky creating significant value for Red Sky shareholders and offering new investors outstanding exposure to exploration in the Surat Basin, one of the most exciting gas exploration areas in Australia.

 

[Donga]

Bigdog - You got my attention and 1st Sept presentation to Good Oil Conference looks like it has sparked interest. ROG recently climbed to .04 then drifted back to .034 and may be heading back to .04 soon?

MD Gillespie has good credentials, does anyone know of his performance at BHP Billiton? His preso discusses upcoming capital raising and valuation comparatives with "entire CSG sector has been re-rated (>doubling of value), pre discovery market cap of $50m in 2009" which would effectively double value of ROG after the issue of the extra shares. Mind you, not that long ago that the stock was only worth .01

I'm in at 3.6 cents and we'll see how this puppy runs for a while.

 

[Pallen]

MD Gillespie has good credentials, does anyone know of his performance at BHP Billiton?

Gillespie used head up BHP's CSG divison which was then onsold to what is now known as AGL, the man knows how to build an asset up for sale.

Little bit of T/A.

We have all seen the recent explosion of BUY's price on the back of its play off the coast of Sydney.

There estimates suggest that they have 16.3TCF in there PEL 11 tenement.

Now, given that MEC has since acquired an 85% stake in the the project BUY's interest falls back to 15% and on that basis, at best 2.5TCF. I havent even included a recovery factor here.

Now, Bounty's price is currently hovering at around 11c.

We have since been granted the licences to ATP840 and ATP904. The potential GIP, Gas in place, for these leases is 8.2TCF, using ROG's recovery factor of 60% that's a recoverable resource of 4.9TCF.

Our share price is 3.7cps - Bounty's 11.5cps.

Yes I know Bounty have other operations, but it makes you wonder...

 

[Donga]

Gillespie used head up BHP's CSG divison which was then onsold to what is now known as AGL, the man knows how to build an asset up for sale...

We have all seen the recent explosion of BUY's price on the back of its play off the coast of Sydney. There estimates suggest that they have 16.3TCF in there PEL 11 tenement.

Now, given that MEC has since acquired an 85% stake in the the project BUY's interest falls back to 15% and on that basis, at best 2.5TCF. I havent even included a recovery factor here. Now, Bounty's price is currently hovering at around 11c.

We have since been granted the licences to ATP840 and ATP904. The potential GIP, Gas in place, for these leases is 8.2TCF, using ROG's recovery factor of 60% that's a recoverable resource of 4.9TCF.

Our share price is 3.7cps - Bounty's 11.5cps. Yes I know Bounty have other operations, but it makes you wonder...

Thanks Pallen for background on Gillespie and broad brush value comparisons. As a LT holder in MEC (MMR) with tax free advantages (and now occasionally trading, as they are in a fairly predictable mode at present), am attracted to this sector and also collected some INP recently after researching from this forum.

Best wishes on this and suggest DYOR on MMR given current fundraising, impending update on rig tender and Advent presentation (operator of PEP 11) at the Rodman & Renshaw Global Investment Conference in New York this week.

BTW - does anyone know much about this annual conference? Is it any more effective than our industry conferences? Pleased to see Perseus PRU and Eastern Star ESG are going to be there as well as a number of other Aussie companies including AOE, BOW, ADU, AGD, CTO and BRM.

 

[Bluebeard]

Announcement out today market seems to have viewed this as a positive. Trading just under 4c just minutes ago. Bought in today at 0.037. Good buyer depth atm.

 

[Bluebeard]

Terrible result for me, this one had to take a loss. Very disappointing. Lesson learned and experience gained - just wish it hadnt cost me what it did.

 

[YELNATS]

Terrible result for me, this one had to take a loss. Very disappointing. Lesson learned and experience gained - just wish it hadnt cost me what it did.

Now trading at .035 and .036, only just under your buy price. You seem to be expecting an instant pot of gold. Isn't patience the best policy with these small caps? Think of MOG this week.

 

[swm79]

why did you get in at that time this morning? a few hours later; .001 change and you're out???

at least wait until the noise of the news died down and then get in.... the news wasnt going to make it put on 100% anyway

 

[bordercityfirm]

I'm in this morning, I just love the CTP story and ROG getting 10% of all CTP's tenements is just great news for Red Sky......and I don't mind the 0.01 drop in price this is a hold, hold and hold for me.

 

[Bluebeard]

Bought to many at the start based on my own portfolio anyway. I will look for re entry and then hold for medium term.

 

[bigdog]

http://www.news.com.au/perthnow/story/0,21598,26229534-5017962,00.html

Red Sky Energy set to gain gas permits

Neil Dowling
October 19, 2009 10:00am

PERTH-based Red Sky Energy is set to gain three NSW coal-seam gas permits through its purchase of Surat Resources.

Gas resources at the three permits over 23,000sq.km in NSW's Sural Basin have the potential of 26 trillion cubic feet (TCF) which, added to Red Sky's other permits, take the company's gas resources to 60 TCF of coal-seam gas.

But acquisition of the Surat permits depends on Red Sky's successful takeover of Surat Resources (SRL) via a share sale agreement of 80 million Red Sky shares that has to be approved by shareholders.

Red Sky bought Norwest Hydrocarbon permits earlier this month that are close to the Surat permits and gives the company claim to more than 53,000sq.km - one of the biggest areas of any petroleum company in NSW.

Red Sky will initially confirm the properties and size of the Surat Basin permits area.

It says the areas are within ``a reasonable distance'' to the proposed route for the Wallumbilla to Newcastle pipeline.

ROG 0.038 0.000 0.00% 2,498,401 shares $96,881 @ 20-Oct 10:40:34 AM

 

[surfingman]

I have been watching this one closely ROG are getting a very nice sized parcel of CSG land together, I am very keen to know when some drilling will take place to see what they might have.

I got a few options today ROGOA exp sept 2011 with 2c exercise, very little time premium for the options which is unusual, if it tanks then I will understand why.

 

[surfingman]

Nice movement today with over 80million shares changing hands 27% gain.

A presentation release this morning with possible CSG first drill in November for the ATP 840 block in the Surat Basin.

Click here for announcement

 

[adobee]

I have been watching this one closely ROG are getting a very nice sized parcel of CSG land together, I am very keen to know when some drilling will take place to see what they might have.

I got a few options today ROGOA exp sept 2011 with 2c exercise, very little time premium for the options which is unusual, if it tanks then I will understand why.

You will be laughing today.. ROGOA looking very good, very little available and I think most people accumulating will be happy to sit and hold drying up the stock.. Picked up 300k options this morning also...

 

[DB008]

I got in today and made 11% off the bat. Nice

Also had a look at the PDS they have floating around.

If all goes well, it could be a nice on to hold and do very, very well in the future. Having said that, 90% of exploation specs grind themselves to nothing.

But, it does seem like a promising start as former BHP CSG (gillespie) is on board.

 

[surfingman]

You will be laughing today.. ROGOA looking very good, very little available and I think most people accumulating will be happy to sit and hold drying up the stock.. Picked up 300k options this morning also...

Yeah I am very happy with my holding.

I did notice that there is a potential target of 100TCF on page 16 of the presentation that's insane, the expenditure to try and realise that sort of quantity of gas would be huge but a great target if they can get some big players on board in the future.

 

[YELNATS]

Yeah I am very happy with my holding.

I did notice that there is a potential target of 100TCF on page 16 of the presentation that's insane, the expenditure to try and realise that sort of quantity of gas would be huge but a great target if they can get some big players on board in the future.

A fall of 13% today to .052 without any published news. Wonder why?

Regarding the 100TCF target, I'm no expert in this area, but would it be possible to develop the resource in stages to break down the task of securing the large amount of finance?

 

[adobee]

A fall of 13% today to .052 without any published news. Wonder why?

Regarding the 100TCF target, I'm no expert in this area, but would it be possible to develop the resource in stages to break down the task of securing the large amount of finance?

There seems to be a tendancy with CTP & ROG to talk about TRILLIONS ... remninds me a bit of Dr Evil... I would like to see some holes in the ground then some more talk about TRILLIONS

 

[surfingman]

The reason why a drop of 13% is strong gains over the last 2 days, a diluted share base 760million (if memory is correct) and no solid information on what they have in terms of proven resources, not to mention the strong potential of capital raising in the future $4m cash (after some drilling in QLD).

I was doing a comparison to BUL last night, BUL is about 12 months more advanced than ROG (If good CSG knowledge is applied through management) with drilling leads, BUL has 600million shares and 10 million cash. Have a close comparison on land holdings and target reserves it puts things in perspective of the potential of ROG.

I am not going to trade this one, I missed the larger side of gains with BOW and KEY got small gains with each but missed the cream, I am sure once ROG drilling takes place there will be some more interest.

ROG needs a share consolidation at about 4:1 to really get the traders moving in my opinion.

Any thoughts?