Australia's Red Sky Energy jumps on South Australia well update

Red Sky Energy

20/10/2022 04:35

** Shares of Australia's Red Sky Energy  ROG.AX  rise as
much as 30% to A$0.0065, their highest since Sept. 29
    ** The oil and gas explorer provides update on the
completion of drilling and receipt of results for the Yarrow 3
well at South Australia's Innamincka Dome licences 
    ** Says Yarrow 3 well is to be 'fracced' immediately by
Santos  STO.AX  
    ** Says 'fraccing' to improve gas flow and assess well as a
future producer
    ** Adds operations to frac and flowback Yarrow 3 may begin
late Oct., subject to weather constraints
    ** Says Santos had previously advised their drilling
operations at which was an Yarrow 3 well in PRL17 in the Cooper
Basin, an operational success with no incidents
    ** Santos shares jump as much as 3.8% today
    ** Red Sky stock posts its biggest intraday pct gain since
Sept. 16
    ** More than 58.5 mln shares change hands for Red Sky stock,
compared with the 30-day average volume of 11.6 mln shares   
    ** Red Sky stock has fallen 37.5% this year, as of last
close
 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))