Red Sky Energy sells off permits

RED SKY Energy has sold its 20% interest in exploration permits PEL 457 and PEL 479 in the Clarence Moreton Basin of New South Wales to ERM Power's wholly owned subsidiary, ERM Gas, for $1.68 million.

Red Sky Energy sells off permits Red Sky Energy sells off permits Red Sky Energy sells off permits Red Sky Energy sells off permits Red Sky Energy sells off permits

The move follows Red Sky's 2012 agreement with ERM Power that saw ERM farm-in and take over as operator of the permits, drilling up to six wells and cutting Red Sky's interest from 30% to 20%.

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