- Kinetiko Energy (KKO) has engaged a drilling contractor to undertake a three-well program named the Korhaan Project
- After being in negotiations with a number of drilling contractors in South Africa and Botswana, Kinetiko has engaged Torque Africa Exploration to undertake the drilling
- Drilling at the three wells – Korhaan-3, Korhaan-4 and Korhaan-5 – is expected to reach a depth of up to 450 metres to test the gassy sandstones and coal bed methane horizons
- Drilling will begin as early as next week and is expected to be completed by early December
- Kinetiko has ended the day 1.01 per cent in the green with shares trading at 10 cents
Kinetiko Energy (KKO) has engaged a drilling contractor to undertake a three-well program named the Korhaan Project.
After being in negotiations with a number of drilling contractors in South Africa and Botswana, Kinetiko has engaged Torque Africa Exploration to undertake the drilling.
Torque Africa has the largest fleet of drilling rigs in Africa and has strong experience in the type of drilling required for the Korhaan Project.
Kinetiko has also engaged experienced contractors to undertake the well cementing and wireline logging.
Drilling at the three wells – Korhaan-3, Korhaan-4 and Korhaan-5 – is expected to reach a depth of up to 450 metres to test the gassy sandstones and coal bed methane horizons.
Two rigs will be operating with the first rig spudding Korhaan-4 as early as next week with the second rig to spud Korhann-3 two weeks later.
Once drilling wraps up Korhaan-4, the rig will drill Korhaan-5 with all drilling activities expected to be completed by early December.
Kinetiko will return and case, cement and perforate each well early next year in order to maximise gas production while minimising water entry.
Additionally, aircraft have been confirmed to undertake a 13,479-line kilometre survey covering 564 square kilometres of selected areas of Kinetiko’s exploration rights.
The survey will be undertaken by Xcalibur Airborne Geophysics, which Kinetiko has hired to complete all its previous surveys.
Once results are received next month, they will be used to target areas for well tests and further pilot production fields.
Kinetiko ended the day 1.01 per cent in the green with shares trading at 10 cents in a $61.04 million market cap.