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Kinetiko Energy Ltd. ( (AU:KKO) ) has provided an announcement.
Kinetiko Energy Ltd has completed a positive flow assurance report conducted by Oilfield Technologies Australia Pty Ltd, which identified significant impairments in gas flow performance due to drilling techniques. Laboratory tests revealed that water and foam used in drilling significantly reduced gas permeability by up to 85%, explaining the underperformance of initial production test wells. The company plans to implement optimized drilling techniques to minimize fluid invasion and improve gas deliverability, with the next test well drilling scheduled for early May.
More about Kinetiko Energy Ltd.
Kinetiko Energy Ltd is an energy company focused on developing and commercializing advanced shallow conventional gas projects in the Mpumalanga Province of South Africa. The company is committed to providing energy solutions through its 100% owned gas projects.
YTD Price Performance: -15.71%
Average Trading Volume: 327,234
Technical Sentiment Signal: Buy
Current Market Cap: A$84.52M
Find detailed analytics on KKO stock on TipRanks’ Stock Analysis page.