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Kinetiko Energy Limited (ASX:KKO)

ALERT: Price-sensitive ASX Announcement for KKO
Current share price for KKO : $0.044 -0.028 (-38.46%)+
Announcement
Release
31 Oct 2025 5:32PM
Price at Release
$0.072
Full Release
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Summary
During the quarter ending 30 September 2025, Kinetiko Energy Limited focused on advancing its production testing and exploration program in South Africa. The drilling and testing of production test wells at Brakfontein demonstrated significant progress, with well 271-KA03PT06 achieving the highest extended flow rates to date, and well 271-KA03PT10 showing strong commercial gas flows. The company secured a joint development agreement with FFS Refiners to co-develop a pilot LNG plant, emphasizing its commitment to commercializing gas projects. Financially, Kinetiko reported a decrease in cash due to operating and investing activities, but maintained a debt-free status with available funds at the quarter's end. Strategic moves include the renewal of exploration rights and the appointment of Mr. Mxolisi Mgojo as a non-executive director, supporting the company's growth strategy in the South African energy market.
Key Points
  • No health or environmental incidents reported during the quarter.
  • Production test well 271-KA03PT06 delivered peak gas flow of 1,600 Mscfd.
  • Well 271-KA03PT10 recorded a peak flow rate of 370 Mscfd.
  • Joint Development Agreement with FFS Refiners for pilot LNG plant.
  • Exploration Rights 270, 271, and 272 renewed for a second term.
  • Maintained financial position with $678k in available funds.
  • Strategic appointment of Mr. Mxolisi Mgojo as Non-Executive Director.
  • Cash outflows for exploration and evaluation were approximately A$621k.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.