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Kinetiko Energy Ltd set to help feed energy hungry South Africa with all Korhaan Project wells intersecting gas

Flow testing for each of the three wells in the coming weeks is expected to provide the platform for first production and booking of maiden reserves.

Kinetiko Energy Ltd (ASX:KKO) is moving towards helping to service energy-hungry South Africa from its Korhaan Project with all wells intersecting gas, giving the company a 100% success rate in gas discovery.

Flow testing for each of the three wells in the coming weeks is expected to provide the platform for first production and booking of maiden reserves. 

Korhaan-5 drilling reached terminal depth (TD) at 432 metres and gas was sensed throughout the drilling of the production section. It will now be logged to establish stratigraphy and gas-bearing sediments.

Korhaan-4 well has been successfully logged and flow rate testing is planned to commence next week. 

Korhaan-3 well has been drilled and cased the Surface Section having encountered gas.

Major milestones

Kinetiko Energy executive chairman Adam Sierakowski said: “The company is exhilarated to see the success so far in the exploration undertaken on the Korhaan Project wells.

“With strong gas shows already observed, the flow testing of each of the three wells in coming weeks is anticipated to provide the platform for major milestones being achieved such as first production and booking of maiden reserves.”

Shares have been as much as 7.1% higher this morning to A$0.091.

Korhaan-5

It has completed drilling of the production section from 150 metres to 432 metres, where Terminal Depth (TD) was called due to the tight structures encountered.

The well was immediately lined up to a flare line in order to ascertain flow potential.

Preliminary gas flows were established under choked conditions with the drill string in the well, BOP closed on the pipe, and natural ground water flowback.

The well was successfully logged to pinpoint productive intervals over January 22-23.

Korhaan-4

After a solid stabilisation period, the well was cleaned out and filled with fresh water for logging.

The logs showed substantial cumulative gassy sandstone intervals.

Korhaan-4 is being prepared for multi-day flow rate testing planned to commence next week.

Korhaan-3

Drilling was continued from 102 metres to 177 metres where Surface Section TD was called after substantial gas was encountered from the uppermost sands.

The well was cased to 174 metres to mitigate pressure build up behind the tubulars and was cemented on January 23.

After curing, the company will continue to drill Korhaan-3 Production Section, expecting to TD and log the well by the end of January.

100% success rate

The observed presence of gas in Korhaan-3 continues Kinetiko Energy’s 100% success rate in its exploration and appraisal campaigns in South Africa.

Read More: Kinetiko Energy Ltd set to help feed energy hungry South Africa with all Korhaan Project wells intersecting gas

2022-01-23 18:22:00

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