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Kinetiko Energy digs deep for gas prize

16 November 2021 11:01
ASX: KKO

The Perth explorer has burrowed around half a kilometre through thick mud, hoping to encounter a prize of gas hosting sandstone and coal geology anticipated to be present.   

The company, focused on discovering and commercialising in-demand South African gas projects, has started its second of three new wells spudded at Korhaan-5, following the rotary mud drilling with the casing of dolerite sills with an eye on the third well at Korhaan-3.  

The casing at Korhaan-4 has already sunk 130 metres and is anticipating robust cementing hardware required for rigours drilling into gassy zones expected in the descent.  

Korhaan-5, the second of five wells, will be set around 450 metres to test the gassy geology from neighbouring tested wells.  

All five wells are intended to become potential early, pilot-production wells, with comingled production to a planned infield offtake facility.   

The company will study the efficacy of each method, using observations for future planning and design of future, multi-well batch drilling projects. 

KKO’s Australian Stock Exchange-listed share price has risen 5 per cent today, trading at 10.5c (8:54 am UTC+ 8 hours) 

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