- Kinetiko Energy’s (KKO) Korhaan-5 well reaches a terminal depth of 432 metres and has flowed gas at the company’s gas fields in South Africa
- The company says the well has been logged with gas-bearing sediments detected in various layers
- Meanwhile, the Korhaan-3 well has been cased and cemented with gas detected at around 177 metres from a terminal depth of approximately 449 metres
- The company also says the wells will now be flow tested to ascertain stability and rates of pressure, with testing expected to take 8 to 10 days
- Shares have been up 2.3 per cent trading at 8.9 cents
Kinetiko Energy’s (KKO) Korhaan-5 well has reached a terminal depth of 432 metres and has flowed gas at the company’s gas fields in South Africa.
The company said the well has been logged with gas-bearing sediments detected in various layers.
The company also said early calculations are showing approximately 133 metres of cumulative sand intervals which measure over 2 metres per interval.
Meanwhile, the Korhaan-3 well has been cased and cemented with gas detected at around 177 metres from a terminal depth of approximately 449 metres.
During the production section drilling the company said it was encouraged as no groundwater inflow was detected.
The company said the wells will now be flow tested to ascertain stability and rates of pressure. Testing is expected to take 8 to 10 days.
Kinetiko said it has invested heavily in high-technology flow measuring and data
acquisition equipment, which is being rigged up on the Korhaan-5 well.
Flowing is predicted to start on February 6, after the demobilisation operations for the rig are complete and the rig has left site. The equipment will then be moved over to both the Korhaan-4 and Korhaan-3 wells.
Shares were up 2.3 per cent trading at 8.9 cents at 1.14 pm AEDT.