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Kinetiko Energy digs deep for gas prize

16 November 2021
ASX: KKO
Rueben Hale

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) 

COMPANY OVERVIEW

Kinetiko Energy is an Australian gas explorer focused on advanced shallow conventional gas and coal bed methane (CBM) opportunities in rapidly developing markets in Southern Africa. South Africa has extensive gassy coal basins, extensive energy infrastructure and a growing gas demand, making it an attractive area for investment. The Company has a large potential exploration area, of which approximately 7000km2 is granted and being explored.

COMPANY INFORMATION

ASX: KKO

Website

https://www.kinetiko.com.au/
https://www2.asx.com.au/markets/company/kko

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