Join our daily newsletter At The Bell to receive exclusive market insights
- Kinetiko Energy’s (KKO) new aeromagnetic survey has confirmed the continuity of gas-prospective geology at the Amersfoort Project in South Africa
- The company recently completed a survey over two exploration licences, ER271 and ER38
- Six new potential gas compartments have been found in the survey area, bringing the total to 37
- Despite this positive news, Kinetiko is down 3.85 per cent and is trading at 12.5 cents per share
Kinetiko Energy’s (KKO) new aeromagnetic survey has confirmed the continuity of gas-prospective geology at the Amersfoort Project in South Africa.
The company conducted the survey over two exploration licences, ER271 and ER38, which link to three previous survey areas.
The aircraft covered an area of 273 square kilometres of Amersfoort.
The resulting data has uncovered the largest deep-seated dolerite dyke to date in the project area.
Additionally, six new potential gas compartments have been found in the survey area, ranging from 5.7 square kilometres to 22.5 square kilometres.
This brings the project’s surveyed area to 965 square kilometres. While this area is large, it represents only 21 per cent of the area of granted exploration tenure being explored by Kinetiko.
Notably, the total gas compartments identified at Amersfoort have now reached 37 and 275 square kilometres.
Currently, modelling at the project allows for around one production well per square kilometre. The current scale of gas compartments found could potentially host up to 257 wells.
Despite this positive news, Kinetiko is down 3.85 per cent and is trading at 12.5 cents per share at 1:36pm AEDT.
