Kinetiko Energy Ltd more than doubles gas prospective compartments at Amersfoot thanks to third aeromagnetic survey
The work revealed 42 new compartments, equating to 264 square kilometres of gas prospective tenure.
Three survey areas were included in an airborne program over the ER 270 and ER272 properties, with 12,610 line kilometres flown.
Promisingly, the work revealed 42 new compartments, equating to 264 square kilometres of gas prospective tenure.
It means the total number of prospective gas compartments has more than doubled to 79 totalling 1,229 kilometres.
To put it in perspective, the company’s current drilling program comprises only a small percentage of just one prospective gas compartment.
Kinetiko’s analysis indicates there are 42 new gas prospective compartments, adding to the existing 37 tenements identified by previous aeromagnetic surveys and providing the company with 79 potentially viable sites.
The breakdown over each property entails:
- ER270N: 12 compartments totalling 43.86 square kilometres;
- ER270S: 19 compartments totalling 85.25 square kilometres; and
- ER270N: 11 compartments totalling 135.06 square kilometres.
Ultimately, Kinetiko believes this demonstrates that more than half of the total area flown comprises an enormous prospective area that is suitable for gas hosting compartments.
What’s more, the property has common surface geology to the gas-proven areas already under exploration and appraisal programs.
About Kinetiko and Afro Energy
Kinetiko Energy is an Australian gas explorer focused on advanced shallow conventional gas and coal bed methane opportunities in rapidly developing markets in southern Africa.
South Africa has extensive gassy coal basins, extensive energy infrastructure and a growing gas demand, making it an attractive area for investment.
The company has a large potential exploration area, of which roughly 7,000 square kilometres is granted and being explored.
Afro Energy (Pty) Ltd was incorporated as a joint venture founded in 2015 by Kinetiko Energy Ltd (ASX:KKO) (49%) and Badimo Gas (Pty) Ltd of South Africa (51%) as a joint venture company.
Afro owns 100% of the exploration rights with required Black Empowerment Endowment (BEE) certification, and facilitates South African investment in order to continue to explore, develop and commercialise gas production.
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