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Kinetiko Energy Ltd spuds third well of Korhaan drilling program in South Africa

Crucially, the three new wells — if successfully completed — have the potential to become producing pilot wells in a nation that is hungry for energy.

Kinetiko Energy Ltd (ASX:KKO) has spudded the third of three new project wells at its Korhaan natural gas asset, part of its flagship Amersfoot property in South Africa’s Permian Age Coal Fields.

Korhaan-3 joins its siblings — Korhaan-4 and Korhaan-5 — as a newly-spudded well in the prolific gas region and is estimated to reach between 400 and 450 metres deep.

From here, the well will test the gassy sandstones and coal bed methane horizons from known coal beds.

These were intersected from two adjacent, flow-tested gas wells, which, together with the three Korhaan wells, could form a five-well cluster at Amersfoot.

With three new wells successfully spudded at Korhaan, Kinetiko is optimistic that all five wells are on track to become potential early, pilot-production wells.

Drilling program

Last week, Kinetiko spudded the Korhaan-5 well, which is estimated to reach between 400 and 500 metres deep.

Kinetiko kicked off work on the asset with air and percussion drilling, which will run roughly 150 metres down the gas well — activity that will be mirrored on Korhaan-3.

From there, rotary mud drilling techniques will take the well to the desired 450-metre depth.

Meanwhile, Korhaan-4 is expected to commence drilling into the gassy sandstone and underlying coal seams to TD within the next few days.

Kinetiko’s strategy

Kinetiko is the largest continuous landholder in the heart of South Africa’s Permian Age Coal Fields, with a project area that spans 7,000 square kilometres and 4,604 square kilometres worth of granted exploration rights.

The extensive holding affords the company access to critical energy, mining and transport infrastructure as it prepares the Amersfoort Project to enter production.

A 2018 gas flow testing study, conducted by an independent contractor, proved Amersfoort had a 95% gas recovery rate, with low levels of groundwater produced.

The flow test also indicated Kinetiko might be able to eliminate the gas treatment step due to the high-quality nature of the project’s gas, with further evidence of strong gas reservoir recharge over time.

Overall, Amersfoort boasts significant exploration upside, with only 15% of the asset’s total land package explored to date.

Read More: Kinetiko Energy Ltd spuds third well of Korhaan drilling program in South Africa

2021-11-24 17:43:00

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