Kinetiko Energy (ASX: KKO) has positioned itself as an early exploration mover into Southern Africa's onshore gas search, with the company now heading to market to raise additional funds.
The Australian Stock Exchange has granted Kinetiko a trading halt, with its shares placed in pre-open.
The advantages to operating in the region are that there is a critical shortage of energy, with a firm gas outlook ($8-$10/GJ).
Importantly for Kinetiko there is the potential to leverage of existing infrastructure and offtake customers.
The halt will remain in place until the opening of trade on Friday 6th December 2013, or earlier if an announcement is made to the market.
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.