Australian oil exploration company Red Sky Energy has announced the completion of maiden resource estimates for Block 6/24, containing the Cegonha discovery offshore Angola in the Kwanza Basin. Red Sky Energy holds a 35% working interest in the block.
According to an independent assessment by petroleum consulting firm PetroAus, the Cegonha oil field within the Cegonha Cluster Area has a Net Contingent Resource of 5.1 million barrels and an additional Net Contingent Resource of 10.8 million barrels. Furthermore, a Net Prospective Resource of 11.0 million barrels has been identified for three additional prospects – IBIS, D2, and B2 – in the same area.
Andrew Knox, Managing Director of Red Sky Energy, stated that the latest evaluation confirms the area’s significant oil resources potential. The company is now focused on advancing appraisal activities and unlocking value from this asset, with substantial upside potential in the nearfield prospects and pre-salt potential that could enhance the economics of Block 6/24.
Source: energycapitalpower.com
