Kinetiko Energy (ASX: KKO) is in pre-open this morning following the ASX granting a trading halt, with the company not yet specifying the reason for the halt.
Kinetiko is focused on the exploration and development of gas in South Africa, with a target of achieving the first Reserves on the Amersfoort Project in April 2013.
The Amersfoort joint venture (KKO 49%) is with local partner Badimo Gas (51%). A resource estimate by Gustavson Associates included: Gas in place (GIP) - 2.4tcf; Contingent Resource - 1.5tcf 2C; and Targets are conventional and coal bed methane (CBM).
The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Thursday 21st March 2013.
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