Red Sky Energy (ASX:ROG) said Santos (ASX:STO), operator of the Innamincka Dome project in South Australia, completed the pre-fracture workover at the project's Yarrow 1 well, preparing the site for fracture stimulation, according to a Friday filing with the Australian bourse.
The well will undergo fracture stimulation in January 2025, which is expected to unlock its production potential and improve gas flow, the filing said.
Red Sky Energy's shares fell past 8% in afternoon trade Friday but earlier hit a new 52-week high. Santos' shares added nearly 1%.
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