Kinetiko Energy Ltd (ASX: $KKO) Announcement - 14 May 2024

Kinetiko Energy Ltd (ASX: $KKO) has achieved a significant milestone by becoming the first company in South Africa to successfully demonstrate power production from a gas well at Amersfoort. The company, in cooperation with FFS Refiners, constructed a fully compliant gas train on-site to feed a 1.2MW gas generator, marking a pivotal moment in the development of their onshore gas exploration and production activities.

Executive Commentary

We have spent the last few months working hard to demonstrate the Company's ability to generate power from our natural gas at its Amersfoort project in Mpumalanga. We obtained respected, professional engineering and equipment suppliers to support this project and we are absolutely thrilled to have become the pioneers of onshore Gas To Power (GTP) from a local, conventional source, which represents another significant milestone for the Company, establishing it as a proven solution within the energy mix planned to alleviate South Africa's energy crisis.

Summary

Kinetiko Energy's successful demonstration of power production from a gas well at Amersfoort signifies a major advancement in their plans to develop an LNG production cluster of approximately 30 wells in South Africa. The company's CEO, Nick de Blocq, highlighted the significance of this achievement in addressing South Africa's energy crisis. With a substantial 6Tcf 2C gas resource, Kinetiko aims to provide desperately needed power to South Africa's economy. The company's vision to commercialize an energy transition solution for South Africa is well underway, and the successful Gas To Power (GTP) demonstration sets the stage for further development and expansion of their gas production fields in the region.