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GAS

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.

Andrew Snelling
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%. Under...

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