The newly minted and well-funded Kinetiko Energy (ASX: KKO) will start an exploration program at the Amersfoort joint venture with local partner Badimo, after receiving approval from the Petroleum Agency of South Africa.
Importantly, all farm Land Access Agreements required for the first drilling program are in place.
The joint venture is aiming to commercialise coal bed methane exploration rights in the Amersfoort area, which is in the Eastern Transvaal coalfield, and is one of the biggest and geologically well understood within the country.
Diamond core drilling will kick off later this month and is forecast to be completed early December, with the company having the option to add a second diamond rig to expedite the drilling program.
The project is strategically located close to the major population and manufacturing centre of Johannesburg, and is surrounded by a major portion of the country's energy generation infrastructure and the coal and gas to liquid fuels industry.
Boosting the prospectivity of the area, the historic underground colliery operations are 10 kilometres from the town of Amersfoort which has indicated gas contents and coal seam conditions.