Company
Kinetiko Energy Ltd
ASX:KKO
Kinetiko Energy Ltd (ASX:KKO) is in the energy exploration business, solely focused on sandstone gas and coal bed methane exploration and commercialisation in South Africa. The company has an extensive exploration area, of which about 7,000 square kilometres is granted and being explored. Kinetiko’s flagship near-production Amersfoort Project and adjacent exploration rights are held through a South African joint venture company Afro Energy (Pty) Ltd in which Kinetiko holds a 49% economic interest and a 50% controlling interest.
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Kinetiko Energy spuds first core well at Southern Exploration Right 270 in energy-hungry South Africa
“The proximate location of our southernmost boreholes to the steel-smelting and manufacturing centre of Newcastle could mean a simplified logistical solution to get the gas to an increasingly hungry market,” said CEO Nick de Blocq.
Kinetiko sets its sights on southern Amersfoort gas well after completing key core hole
The company's next core well — 270-06C — is ready for spudding in the far south, where the well’s deeper basement broadens the potential for thicker gassy zones.
Kinetiko Energy receives valuation of A$0.24 per share in MST Access initiation report
“KKO is in the enviable position of being part of both a short and long-term, lower-carbon solution to SA’s energy needs,” said the analyst
Kinetiko encounters “significant gassy zones” in core drilling at South African project
It’s still early days, but the findings so far indicate 271-23C could go much deeper than the company’s Korhaan wells.
FIVE at FIVE AU: Recession fears ferment; US Fed likely to hike rates again
“Growth momentum, as well as financial market and confidence indicators, have deteriorated markedly around the world in recent months. Many countries are already in or on the brink of outright recession amid heightened uncertainty and risin
Kinetiko solidifies relationship with South African strategic investor in A$5 million raise
The cash injection will accelerate exploration and grow gas resources as Kinetiko works to provide a major energy solution for South Africa.
Kinetiko Energy spuds well near South African power station awaiting new fuel source
"This drilling campaign forms part of our response to the very positive narrative from both the South African President and the CEO of Eskom regarding the need for domestic South African gas,” said KKO CEO Nick de Blocq.
Kinetiko Energy mobilises to new core hole near Majuba Power Plant in gas-hungry South Africa
“The recent government initiative of creating a new power supply company has brought three ex-coal fired power stations into play, which will be re-engineered to become gas fired,” said CEO Nick de Blocq.
Kinetiko Energy advances its vision to deliver South Africa’s largest gas field
Kinetiko’s Amersfoort Gas-to-Power Project is set to kick off following Korhaan project drilling success and licence approval.
Kinetiko Energy to kick off Amersfoort gas-to-power project in South Africa
The program entails using existing wells at Amersfoort to produce gas to an in-field, containerised generator linked to the existing grid running through the farmlands.
Kinetiko Energy delivers strong gas flows from Korhaan Well 4 in South Africa
“The success of the Korhaan drilling program has provided enormous confidence of the capacity of the company’s vast gassy compartment targets to host thousands of future gas production wells,” says chairman Adam Sierakowski
Kinetiko Energy achieves significant gas flows from Korhaan Well 3 in South Africa
“The company is focused over the next three months on achieving major milestones by securing our first domestic gas customers and booking maiden gas reserves certification,” says chairman.
Kinetiko directors back aggressive exploration strategy in latest entitlement offer
All directors subscribed for a majority of their entitlement in the offer, which raised $1.7 million.
Kinetiko Energy upgraded by K1 Capital as strong news flow continues
Kinetiko is a gas exploration company targeting South Africa’s growing unmet energy demand, with 4.9 tcf of 2C contingent resources with further exploration potential.
Kinetiko Energy secures South African strategic investor and launches rights issue for total of A$4.1 million
The raise comes after Kinetiko executed agreements with South Africa’s Industrial Development Corporation to co-develop a gas production field, expected to comprise up to 20 wells.
Kinetiko Energy moves closer to South African production with government to co-invest in gas field development
“Kinetiko’s vision of becoming a major player in South African onshore gas production has today taken a significant step forward with agreements being finalised with the IDC, a leading national development finance institution, to co-invest
Kinetiko Energy approved to acquire 100% of Afro Energy
“Kinetiko welcomes this support as this Ministerial consent represents the last regulatory approval required to complete the merger transaction and the company will now proceed to seek approval from our shareholders,” executive chairman Ada
Kinetiko Energy kicks off gas flow testing at Korhaan 4 well in South Africa
Significant progress has been achieved in recent weeks towards securing investment from major South African institutions and completing off-take agreements.
Kinetiko Energy reaches terminal depth at Amersfoot’s Korhaan-3 well
KKO has completed logging on the Korhaan-3, 4 and 5 wells, with all three assets now up for multi-day flow testing.
Kinetiko Energy prepares to flow test all Korhaan wells following “substantial” gas shows at the South African Project
Multi-day well gas flow testing is imminent, with all three wells to be flow-tested, with long-flow and shut-in periods as the company seeks stability of rates and pressures.
Kinetiko Energy more than doubles gas prospective compartments at Amersfoot thanks to third aeromagnetic survey
The work revealed 42 new compartments, equating to 264 square kilometres of gas prospective tenure.
Kinetiko Energy set to help feed energy hungry South Africa with all Korhaan Project wells intersecting gas
Flow testing for each of the three wells in the coming weeks is expected to provide the platform for first production and booking of maiden reserves.
Kinetiko Energy resumes drilling at Korhaan Project in South Africa
Logging for Korhaan 3, 4 and 5 wells is to be carried out in January while the planned flow test on Korhaaan-4 will commence.
Kinetiko Energy moving to 100% stake in South Africa’s Afro Energy
The Perth-based energy stock originally held a 49% interest in Afro, which holds the South African exploration rights and production approvals tied to Kinetiko’s assets.
Kinetiko Energy secures first offtake in transition to South African gas producer
“Sales of gas under the JV will substantially assist KKO’s target of converting its established 4.9 trillion cubic feet (TcF) contingent gas resource into first reserves,” says executive chair.
Kinetiko Energy intersects significant gas at South African project
The company observed significant gas flows under choked conditions, with gas sensed throughout the entire drilling of the production section from 130 metres onwards.
Kinetiko Energy successfully spuds three wells: gas presence shown
Korhaan-4 has been cased to 150 metres and cementation operations are underway, with the drilling expected to start into the gassy sandstone and underlying coal seams to total depth within the next few days.
Kinetiko Energy spuds third well of Korhaan drilling program in South Africa
Crucially, the three new wells — if successfully completed — have the potential to become producing pilot wells in a nation that is hungry for energy.
Kinetiko Energy spuds second well at South Africa’s Korhaan Project
Crucially, the three new wells — if successfully completed — have the potential to become producing pilot wells.
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Domino’s Pizza Enterprises Ltd proved to be the main drain, down 12% after it released a disappointing trading update. Note, its shares were down 19% at the open and have regained their 200-day average.
Kinetiko Energy spuds first of three new Korhaan Project wells in South Africa
All five wells are intended to become its early, pilot-production sources of gas, with comingled production to an infield offtake facility being planned.
Kinetiko Energy to kick off major exploration drive with three-well program at Korhaan in energy-hungry southern Africa
Kinetiko expects all drilling activities to be completed by early December and all three wells will be flow tested after logging.
Kinetiko Energy prepares 3-well drilling program to advance ‘elephant-scale’ gas resource in South Africa
The Amersfoort Project has an independently certified contingent 2C gas resource of 4.9Tcf (trillion cubic feet).
Kinetiko moves to fast-track gas Production Right after South African Minister grants consolidation
Consolidation of three existing exploration rights at Amersfoort is expected to assist the company to streamline and increase the economics of potential gas production scenarios.
Kinetiko Energy doubles down ahead of three-well drilling program at South African Gas Project
Kinetiko‘s next three drill targets could form a five-well cluster at Amersfoort, paving the way for further offtake negotiations and the certification of its maiden gas reserves.
Kinetiko Energy appoints experienced oil & gas executive as CEO
The company is “on the cusp of becoming a substantial source of high-quality gas to help alleviate the national energy shortage,” says incoming CEO Nick de Blocq.
Kinetiko Energy moves ahead to consolidate 7,000 square kilometres of exploration rights and sample gas production permits in South Africa
Kinetiko successfully completed a sophisticated placement in June 2021 that raised $2.8 million and intends to undertake an SPP to raise up to a further $2 million in the next 4 weeks.
Kinetiko Energy appoints Simon Whybrow to role of company secretary
Funds from the company's recent placement will be used to advance Kinetiko’s Amersfoort Project in South Africa, including funding exploration and gas drilling.
Kinetiko Energy launches A$2 million share purchase plan after raising A$2.8 million from placement
Funds from the placement will be used to advance Kinetiko’s Amersfoort Project, including funding exploration and gas drilling.
Kinetiko Energy in trading halt with capital raising news pending
The company has recently secured 100% of the Amersfoot Project, a near-term commercial production gas asset in South Africa.
Kinetiko Energy: an imminent gas producer at the heart of energy-hungry South Africa
A new investor update indicates just how close Kinetiko is to commercial production, with integral infrastructure, further exploration opportunities and growing demand for clean energy coming to the fore in South Africa’s energy sector.
Kinetiko Energy strengthens position in gas-hungry South Africa by securing 100% of near-term production Amersfoot Project
The respective boards and major shareholders of both Badimo and KKO are supportive of the acquisition, with Badimo representatives and experienced South African energy and gas directors Donald Ncube and Robert Bulder to join the board.
Kinetiko Energy halted with “significant acquisition” announcement pending
The company is well on track to begin commercial production in the near term from the Amersfoort Project in South Africa.
Kinetiko Energy's productive March quarter sets the stage for near-term first production and revenue
During the March quarter, the company continued to promote the potential of the Amersfoort project to be developed as a significant scalable onshore gas producer in South Africa, close to multiple markets and surrounded by energy infrastruc
Kinetiko Energy gears up for near-term production with successful production flow test at South African well
Results from gas well flow tests at Well KA-03PTR of the Amersfoort Project confirm the ability of the well to immediately be taken into production.
Kinetiko Energy completes commissioning in preparation for gas-to-CNG production well testing at South African project
The company has completed testing and commissioning of upgraded downhole and surface equipment on Well KA-03PTR with flow rate testing to begin immediately.
Kinetiko Energy strides toward production next quarter and well-placed for growth after strong half-year operational achievements
The company is rapidly advancing towards first gas production, a key milestone which will enable Kinetiko to generate first revenues and seek certification of first gas reserves.
Kinetiko about to turn on the gas tap at Amersfoort in energy-hungry South Africa
The project hosts an independently certified 2C gas resource of 4.9 trillion cubic feet which is from a small part of an extensive and highly prospective landholding.
Kinetiko Energy has strong day on reinstatement to official ASX quotation
The company was formed to pursue advanced gas and CBM opportunities in rapidly developing gas markets outside Australia.
Titanium Sands drills mineral sands for scoping study at Sri Lankan project
The study is expected in the June half of 2020 and will be based on another resource update.