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Kinetiko Energy Ltd. ( (AU:KKO) ) has provided an update.
Kinetiko Energy Ltd has commenced drilling its second production test well, 271-KA03PT06, at Brakfontein Farm, which is part of a cluster of gas-producing wells. This initiative is designed to de-risk production and accelerate the company’s transition from an explorer to a producer, with the goal of supplying gas to a planned pilot LNG plant by late 2026. The success of this well, alongside the previous well KA03PT10, is expected to enhance Kinetiko’s position in South Africa’s energy market, particularly in the methane and helium basins, and contribute to the national energy transformation.
More about Kinetiko Energy Ltd.
Kinetiko Energy Ltd is an energy company focused on commercializing shallow conventional gas projects in the Mpumalanga Province of South Africa. The company aims to provide energy solutions by developing its 100% owned gas resources to support the country’s energy transformation.
Average Trading Volume: 271,934
Technical Sentiment Signal: Buy
Current Market Cap: A$111M
See more insights into KKO stock on TipRanks’ Stock Analysis page.