HIGHLIGHTS
- Core hole 270-03C intersects significant gassy zones in targeted carbonaceous geology
- Gas bearing geological sequences totalling at least 112m metres were intersected with log analysis and assessment of gas desorption underway
- Terminal depth in Southern geology reached 605m and as anticipated intersected deeper thicker gassy zones
- Further immediate core drilling is planned to commence next week to test regional extensions at the core hole location 270-05C
Kinetiko Energy, an Australian gas explorer and developer focused on advanced shallow conventional gas and coal bed methane in South Africa, has provided an update on its onshore gas exploration and production development activities.
Core hole 270-03C, spudded on 24 January 2023, has successfully been completed with strong gassy geology intersected with the well achieving a TD of 605 metres. This is one of the deepest core holes drilled by the Company and has again shown that the Southern geology does intersect deeper gassy zones as anticipated.
Kinetiko CEO, Nick de Blocq, commented:
'The completion of our latest corehole, 270-03C, has proven that we have gassy sediments proximate to the Lily Pipeline, which feeds all of the major thermal industries of the KwaZulu-Natal Province. At 605m TD, the depth of the borehole is the deepest we have encountered in recent drilling operations which bodes well in terms of potential flow rates and longevity of production. The initial field data from the logs show yet another highly successful result of our coring campaign efforts. It is most rewarding to keep our 100% strike rate intact, while proving an eventual basis for a Reserve aimed at supporting the imminent depletion of gas in the Lily line, or a direct feed into Newcastle.'
Click here for full announcement
Source: Kinetiko Energy
