South Africa: Petroleum Agency of South Africa grants Afro Energy renewals on Exploration Rights 270 and 272

HIGHLIGHTS

• Petroleum Agency of South Africa (PASA) has granted Afro Energy (a subsidiary of Kinetiko Energy) renewals on Exploration Rights 270 and 272
• The Exploration Rights have been renewed for two years
• The renewals granted by PASA support the approved work programs Kinetiko has in place to accelerate exploration

Kinetiko Energy, an Australian gas explorer and developer focused on advanced shallow conventional gas and coal bed methane in South Africa, has provided the following update on its onshore gas exploration and production development activities.

The renewals covering an area of approx. 3,135 sq km represent a substantial portion of the Company’s current exploration rights and support the majority of the planned exploration activities of 2023 (Figure 1). Following the Minerals and Petroleum Resources Development Act of 2002 (MPRDA) Section 81:(4), under which the Company is entitled to continue with exploration and appraisal operations, the renewals granted are for the first of potentially 3 renewal periods of two years. The company intends to apply for production rights in the near future over these exploration rights with would be valid for an initial period of 30 years.

Figure 1 - Exploration Right 270, 271 and 272 and exploration activity

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Source: Kinetiko Energy