Red Sky Energy Limited (AU:ROG) has released an update.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Red Sky Energy reported positive cash flow from its Yarrow 3 production, totaling $2.1 million for the year, with a stable operational performance and plans to re-enter Yarrow 1 well by the fourth quarter of 2024. Corporate strategies include actively pursuing acquisitions and reporting an increased cash reserve, with $3.33 million in cash as of June 30, 2024. The company has also revised its forward programme at the Killanoola Oil Project due to cost inflation and continues discussions for the offtake of oil.
For further insights into AU:ROG stock, check out TipRanks’ Stock Analysis page.