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Kinetiko Energy hits powerful gas in South Africa

21 December 2021
ASX: KKO
Rueben Hale

Under choked conditions, Kinetiko has sent the detector ballistic over more than 300 metres of strong gas flows at the Korhaan-4, the first of three wells to be brought into production.  

The section, now describing the longest so far, hit the strong flows from 130m to 443m, where the total depth was called due to the tight structures encountered.   

The company said preliminary gas flows were established under choked conditions with the drill string in the well and natural groundwater flowback.   

“Even under these choked conditions, robust gas flows were observed,” the company said.  

“Logging of the well will be undertaken in preparation for regulated flow testing early in January 2022.”   

Meanwhile, Korhaan-5 well has reached a depth of 150m, also successfully casing the dolerite sills and intercepting gas hosting sandstone and coal geology.   

The company plans to continue drilling operations, construct a well cellar, and drill out of the plug/float collar in preparation for re-entry on 08 January 2022.   

All indications are that similar geology will be encountered in Korhaan-5.   

Korhaan-3 remains suspended at 102m, ready to restart drilling in January 2022.

KKO’s Australian Stock Market-listed share price was trading at 8.9c today (10:46 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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