Kinetiko Energy (ASX: KKO) has been granted a trading halt by the ASX pending an announcement updating the market on the company’s operations in South Africa.
The company has not given any indication of the nature of the announcement.
Late last month Kinetiko announced that United States-based independent gas resource consultancy Gustavson and Associates was undertaking a review of the Resource at the Amersfoot coal seam gas exploration project in South Africa.
Resources at Amersfoot have previously been estimated at a contingent 1.12 trillion cubic feet of gas.
Gustavson has also audited Kinetiko’s operations and deemed them to align with best industry practice.
Kinetiko holds a 49% operating interest in the Amersfoort Project while partner Badimo Gas holds 51%.
Shares in Kinetiko will remain in pre open until the earlier of the release of an announcement to the market or the commencement of normal trading on Friday May 11.
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