Red Sky Energy Limited (ASX: ROG), an Australian-based oil and gas exploration and production company focused on high-potential assets, has announced the formal signing of an agreement for Block 6/24, located offshore Angola. The signing ceremony, attended by Managing Director Andrew Knox, follows the parliamentary ratification of the Risk Service Contract (RSC) for the block. Red Sky holds a 35% participating interest in Block 6/24, situated in the Kwanza Basin, an area known for its high potential.
The RSC was initially signed on 31 December 2024 with Sonangol E&P (operator, 50%) and ACREP (15%), after direct negotiations with the Angolan National Agency for Oil, Gas and Biofuels (ANPG). Block 6/24 spans 4,930 square kilometres and includes existing seismic coverage and a material discovery at Cegonha. An independent assessment confirms Net 2C Contingent Resources of 5.1 million barrels (MMbbl) and Net 2U Prospective Resources of 11.0 MMbbl, with pre-salt potential beneath Ibis, as of 31 March 2025.
The oil discovered at Cegonha is heavy crude (18° API) and has been confirmed as commercially viable using established global production methods. This agreement paves the way for finalising the Joint Venture Operating Agreement (JVOA) and preparing a work program and budget. According to Red Sky, this milestone accelerates their ability to commence technical work with partners Sonangol and ACREP, pursue early production potential, and diversifies their portfolio across geographies and resource types.
Red Sky’s Managing Director, Andrew Knox, stated that the parliamentary ratification and formal agreement represent a key strategic achievement, enhancing the company’s long-term growth strategy and international diversification. The company’s portfolio includes interests in Angola (Block 6/24) and South Australia (Innamincka Gas & Killanoola Oil), as well as a growing pipeline of energy investments.
