Yeh, it still seems strange to give up the better known resource...

Yeh, it still seems strange to give up the better known resource for such a pittance. Yes, they must have figured they would need the cash to drill Yaraka but EPW still put them over the barrel for the CM tenements.

So it looks like this is what we are waiting for now...

Yaraka Project

Red Sky is farming in to earn up to 100% in ATP 946.

Initial exploration to comprise two core holes.

Targeting Cretaceous Winton Formation.

Winton Coal Measures are present from surface to depths of 800m and with a likely thickness of 400-600m.


Net coal accumulations (based on available data) likely to be in excess of 15m in some areas.

Potential resource of 10 TCF gas-in-place.

Permit is well situated to tie in to proposed pipeline network to supply Gladstone.

Sentry Petroleum Limited soon to drill permit to immediate north