Red Sky Energy (ASX: ROG) is now the fifth largest non-major company with gas in eastern Australia with 3P reserves of 114 petajoules in the Clarence Moreton Basin in northeast New South Wales.
Managing director Rohan Gillespie told Proactive Investors today this is good news for the company as domestic power companies are finding it difficult to source gas for supply.
“It means because we have reserves in eastern Australia they have a significant scarcity value, because the LNG projects in Gladstone that are going ahead are pretty much soaking up all the available gas in eastern Australia,” he said.
Managing director Rohan Gillespie told Proactive Investors today this is good news for the company as domestic power companies are finding it difficult to source gas for supply.
“It means because we have reserves in eastern Australia they have a significant scarcity value, because the LNG projects in Gladstone that are going ahead are pretty much soaking up all the available gas in eastern Australia,” he said.
Proactive Investors
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