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Monday, September 13, 2021
Kinetiko Energy Limited announced that it has commenced plans to complete a 3 well drilling program at the Amersfoort project in South Africa. Site selection has been finalized with all environmental and regulatory approvals obtained. The three new wells KA-03PT7, KA-03PT8 and KA-03PT9 are to be drilled within 400 meters of KKO’s proposed gas collection terminal at Amersfoort where access and infrastructure is in place.
The new wells if successfully completed have the potential to become producing pilot wells like nearby historic wells KA-03PT and KA-03PTR which recently successfully underwent a workover and achieved flow rates of 190 Mscfd (refer ASX announcement 20 April 2021). The new wells and existing wells have the potential to be connected and with the newly completed terminal infrastructure form a 5 well pilot production cluster.
Multiple drilling contractors based the region have been engaged and have confirmed their capacity to tender for the approved program. The tender process is anticipated to be undertaken over the next fortnight and drill rigs are anticipated to be mobilized to site during September. The Company estimates that the drilling and completion of the three new wells will be completed by November, as negotiations with potential off takers continue for any gas production that can be optimized from a 5-well cluster, and enable the Company to seek certification of maiden gas reserves.
The Company’s strategy is to roll out multiple, scalable production fields across 37 previously identified potential gas compartments and assessed geologically favorable zones which have been identified through the Amersfoort region on ER56, ER38 and ER271 which total approximately 1,300 sq km. These zones could potentially host hundreds of production wells on only 20% of the total prospective geology.
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