Kinetiko Energy's Gas Production Test Program Commencement

Kinetiko Energy Ltd (ASX:KKO) has initiated the drilling of the first well, 271-23PT, marking a significant step in the five-well gas production test program. The program aims to provide critical data on gas flow rates and depletion curves, with completion and first gas flow results expected by early November 2024. Kinetiko is focused on commercializing its advanced shallow conventional gas projects in South Africa's Mpumalanga Province, with the potential to deliver cleaner, reliable energy to address the nation's critical shortages.

Executive Chairman's Perspective

The spudding of our first well in this five-well production test program is exciting for Kinetiko and its stakeholders. We are one step closer to demonstrating the commercial viability of our vast gas resources and contributing to South Africa's urgent need for cleaner, more reliable energy solutions. With well 271-23PT located near the Majuba Power Station, we are ideally positioned to deliver gas to key infrastructure. We expect this test program to provide invaluable data on flow rates and depletion curves. These results will underpin the expansion of our gas reserves and pave the way for future production clusters.

Gas Production Test Program Summary and Outlook

Kinetiko Energy's commencement of the gas production test program, targeting 6 TCF contingent resources, signifies a significant milestone in the company's efforts to address South Africa's energy needs. The program aims to gather essential data for the certification of reserves and future development clusters, with the potential for significant growth in the company's contingent resources. Strategically located near key energy infrastructure, the program is poised to optimize commercial potential and delivery of gas to off-takers. The success of this program is expected to de-risk future drilling campaigns and accelerate Kinetiko's efforts to become a major contributor to South Africa's evolving energy landscape.