Petroleum Africa
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Monday, January 27, 2014
Kinetiko Energy entered into a MoU to conclude a JV agreement with White Rivers Exploration in regards to joint opportunities in South Africa. The MoU is legally binding for six months to enable the parties to enter into a JV to explore for CBM and other unconventional and conventional oil and gas opportunities. White Rivers Exploration is a certified South African Black Economic Empowerment firm with extensive coal and gold holdings in South Africa.
White Rivers holds coal exploration rights underlying the onshore gas technical cooperation permits (TCPs) subject to this JV agreement. The White Rivers Exploration’s TCPs are located in the Free State and Vereeniging Sasolburg Coalfields. The Ventersburg and Kroonstadt TCPs are located in the Free Sate Gas Field where widespread gas occurrences are known from coal and mineral exploration drilling. The Heilbron TCP is located adjacent to the Smaldeel area where helium has been commercially produced in the past, and significant comingled methane flows were flared. The helium is thought to be derived originally from radioactive uranium decay in the Proterozoic Witwatersrand sediments underlying the Karoo Basin. The methane is derived from the extensive Karoo coal measures. The helium has then migrated upwards into the Karoo methane gas traps. As with Kinetiko’s Amersfoort project it is expected that coal derived methane will also be found in conventional sandstone reservoirs within the Karoo sandstones that host the coals.
TCPs enable the holder to access available data held by government agencies for desk top studies and also confers the right to convert the area to an exploration right (ER). The Heilbron, Kroonstadt, and Ventersburg applications have been accepted and should be granted in due course.
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