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Kinetiko Energy Ltd. ( (AU:KKO) ) just unveiled an announcement.
Kinetiko Energy Ltd has announced positive outcomes from its production test wells, confirming the presence of gas and improved gas flows. The second test well, 271-KV06PT, successfully reached a depth of 631m and demonstrated a sustained gas presence, while the first test well, initially thought to have a limited reservoir, also showed increasing gas presence. The company has initiated a drilling optimization study to assess possible temporary gas blockages caused by drilling techniques. These developments affirm the ubiquity of gas-bearing geology across Kinetiko’s exploration rights, supporting the potential for future gas fields.
More about Kinetiko Energy Ltd.
Kinetiko Energy Ltd is an energy company focused on developing and commercializing shallow conventional gas projects in the Mpumalanga Province of South Africa. The company is dedicated to providing energy solutions through its extensive exploration rights in the region.
YTD Price Performance: -13.24%
Average Trading Volume: 177,689
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$84.52M
For a thorough assessment of KKO stock, go to TipRanks’ Stock Analysis page.
