The newly minted and well-funded Kinetiko Energy (ASX: KKO) is looking to boost the company's footprint in the Amersfoort area of the Eastern Transvaal in South Africa.
Kinetiko has submitted a Technical Commercial Permit covering an extensive 4200 square kilometres of prospective land, which has been accepted by the Petroleum Agency of South Africa (PASA).
The application is now undergoing detailed assessment and a PASA decision is due within 3-6 months, and if granted, the permit entitles the holder the exclusive right to apply for and be granted an Exploration Right.
This application has the potential to add to the company's existing operations, which includes a joint venture with local partner Badimo, which has previously received approval from PASA.
The joint venture is aiming to commercialise coal bed methane exploration rights in the Amersfoort area, which 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