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Kinetiko Energy Limited (ASX:KKO)

ALERT: Price-sensitive ASX Announcement for KKO
Current share price for KKO : $0.035 -0.04 (-53.33%)+
Announcement
Release
27 Aug 2025 9:30AM
Price at Release
$0.075
Full Release
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Summary
Kinetiko Energy Limited has provided an update on the progress of its drilling operations in South Africa, announcing the successful spudding of the second production test well (2709C) at the Korhaan Project. The report highlights that the drilling of the first well, 2709B, is ongoing and has reached significant coal intersections, indicating strong potential for gas production. The company's accelerated drilling program aims to deliver early gas to market and further demonstrates the commercial viability of the project. Kinetiko emphasized its commitment to progressing exploration and development activities in the Karoo Basin to capitalize on the region's energy potential.
Key Points
  • Kinetiko Energy Limited announced the spudding of the second production test well, 2709C, at the Korhaan Project.
  • The first well, 2709B, has intersected significant coal seams with strong gas indications.
  • Ongoing drilling is part of an accelerated program to deliver early gas to market.
  • The results validate the commercial potential of the Korhaan Project within the Karoo Basin.
  • Kinetiko is committed to developing its gas resources to address South Africa's energy needs.
  • The company plans further exploration and production testing in the area.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.