Australia's Red Sky Energy surges 18% at open before sliding 18%
03/01/2025 02:52
Jan 3 (Reuters) - ** Shares of Red Sky Energy
ROG.AX fall as much as 18.2% to A$0.0090, their lowest since
Dec. 5
** ROG shares surged 18.3% higher in the first few minutes
on Friday, resuming trade after being on a halt since Tuesday
and as investors return to market after new year holidays
** Shares jumped to their highest level since early May
2021, before sinking 18% in the next 30 minutes
** The oil and gas explorer says it was awarded a 35%
interest in an offshore block in the Kwanza Oil Basin in Angola
** ROG estimates there is significant potential for oil to
be found in the block
** Nearly 69 mln shares traded vs 30-day avg of 15.8 mln
** Stock more than doubled in 2024
(Reporting by Manasi DasaSundeep)
((Manasi.DasaSundeep@thomsonreuters.com;))
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Australia's Red Sky Energy surges 18% at open before sliding 18%