Energy News Today

Kinetiko Energy Ltd successfully spuds three wells: gas presence shown

Korhaan-4 has been cased to 150 metres and cementation operations are underway, with the drilling expected to start into the gassy sandstone and underlying coal seams to total depth within the next few days.

Kinetiko Energy Ltd (ASX:KKO) has successfully spudded three wells at its Korhaan Project in South Africa and completed its aeromagnetic survey covering 564 square kilometres over selected portions of ER 270 and ER 272.

Perth-based KKO is a gas explorer focused on advanced shallow conventional gas and coal bed methane (CBM) opportunities in rapidly developing markets in Southern Africa.

The company has a large potential exploration area, of which approximately 7,000 square kilometres is granted and being explored.

Successful spud leads to gas showing

Kinetiko successfully spudded its three Korhaan wells, with each being drilled into the dolerite sills.

Korhaan-4 has been cased to 150 metres and cementation operations are underway, with the drilling expected to start into the gassy sandstone and underlying coal seams to total depth within the next few days.

Korhaan-5 will start running casing shortly and continue drilling the production section.

KKO has temporarily suspended work on Korhaan-3, which is drilled to 102 metres in favour of an attempt to complete Korhaan-4 and Korhaan-5 before the end of the year.

Drilling on Korhaan-3 is expected to resume in January 2022 after the Christmas shut-down period.

The company notes the delays in completing its work, citing worse than expected seasonal weather and the high storm count which has swept drilling sites.

The three Korhaan drilling project wells that have been spudded.

Assessing preliminary gas flow rates

The good news for KKO is each well has shown a gas presence towards the bottom of the dolerite cap rock structure, where mudstone and sandstone samples have been found.

Preliminary gas flow rates will be assessed following the wireline logging and the barefoot completion of each well.

These could be reassessed following the possible cased completion plan in 2022.

KKO has also completed the aeromagnetic survey which flew approximately 13,479 line kilometres covering 564 square kilometres, over selected portions of ER 270 and ER 272 which form the most Southern and Northern extensions of KKO’s exploration rights.

Results from the aeromagnetic survey have been received and should be processed during December and January 2022.

KKO expects to build significantly on the existing 37 identified prospective gassy compartments and target further areas for well tests and pilot production fields.

Shares are up 3.37% to A$0.092.

Read More: Kinetiko Energy Ltd successfully spuds three wells: gas presence shown

2021-12-06 20:39:00

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy
%d bloggers like this: