Sydney-listed explorer Red Sky Energy has completed the acquisition of petroleum retention licence 13 (PRL13) in South Australia from Beach Energy, it said on February 11. The deal was announced in November last year. 

The company has applied to the South Australian minister for energy and mining for approval and the registration of the sale and purchase agreement (SPA) and associated agreements. Upon approval, the licence will be transferred to Red Sky Killanoola, a unit of Red Sky Energy, for a nominal consideration. The purchase under the SPA is inclusive of all existing production infrastructure, it said. 

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Red Sky Energy said it has started planning for the Killanoola project with a focus on beginning oil production at the Killanoola-1-DW1 well as soon as possible.  

PRL 13 covers an area of approximately 17.5 km² in the Otway basin, located close to the Jacaranda Ridge and Haselgrove gas fields in the Penola Trough in south-eastern South Australia.