Knox noted that the company is looking at creating a big profit center in Angola through the development of Block 6/24 – in collaboration with its block partners Sonangol and ACREP – as well as the addition of new assets to its portfolio.

“We focus on proven or developed assets, and those with discovered resources that we can use our expertise to bring to market. There is a lot of oil in Angola, with good opportunities and a very supportive government,” Knox stated.

To support the development of Block 6/24, Red Sky Energy and its partners will reprocess existing seismic data to devise a strategy for developing the resources. Block prospectivity studies are being carried out, aimed at providing more clarity on the volumes available to be developed.

Knox said that, “There is approximately 3,000 km² of seismic on the license and we will look to potentially reprocess that and assess how to develop the field. We will look at the way forward: will be re-entering the existing well? Will we do a sidetrack? This is what we are currently analyzing.”

According to Angola’s upstream regulator the National Oil, Gas & Biofuels Agency (ANPG), Block 6/24 spans 4,930 km² in the shallow waters of the Kwanza Basin. The block contains the Cegonha discovery, which was drilled and discovered in the late 1980s. The discovery highlights the prospectivity of the project, which has an estimated potential of 150 million barrels. The block has been studied and operated by companies such as TotalEnergies, ConocoPhillips and Petrobras, among others.

As such, the development of Block 6/24 is a priority for Red Sky Energy. According to Knox, “We will not wait three years to drill the well; this is the timeframe for when we need to make a decision to drill. Obviously, we are looking to see if we can bring that timeframe earlier.”

Red Sky Energy’s acquisition follows a string of M&A deals signed by new entrants in Angola. In recent months, players such as Nigerian multinational energy firm Oando PLC and oil and gas firm Effimax have entered Angola’s oil and gas market. Energy major Shell is weighing its return to Angola, assessing six deepwater blocks, while upstream oil and gas companies Corcel and Maurel & Prom are looking at expanding their footprint across the market. Indonesia’s national oil company (NOC) Pertamina is eyeing block opportunities offshore Angola while Namibia’s NOC Namcor signed a deal to acquire a stake in Block 15/06. Independent oil and gas company Afentra is also strengthening its Angolan presence, recently acquiring stakes in Blocks KON 19, KON 15, 3/05, 3/05A and 23.

As the country’s premier industry event, Angola Oil & Gas (AOG) – returning for its sixth edition from September 3-4, 2025 – facilitates market entry by connecting foreign companies to Angolan block opportunities. Taking place with the full support of the Ministry of Mineral Resources, Petroleum and Gas, the ANPG and Sonangol, the event fosters collaboration and deals.

Previous editions have proven invaluable for companies. Knox stated that “AOG was instrumental for us in so many ways. It was our first participation at the conference and we were able to meet everyone.”

Similarly, the event has supported Afentra’s goals. Paul Mcdade, CEO of Afentra, stated that “AOG has supported Afentra PLC’s investment strategy by providing a valuable platform to engage with key industry stakeholders, helping to strengthen existing relationships and build new ones. The event has facilitated direct interactions with government representatives, local operators and potential partners, allowing Afentra to better understand Angola’s energy landscape and align its strategy accordingly.”