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Wednesday, March 15, 2023
Australian E&P firm Kinetiko Energy provided an update on its onshore gas exploration and production development activities in South Africa where it is .
Core hole 270-03C, spudded on January 24, has successfully been completed with strong gassy geology intersected with the well achieving a TD of 605 meters. This is one of the deepest core holes drilled by the company and has again shown that the Southern geology does intersect deeper gassy zones as anticipated.
Core well 270-03C is the second core well the company has drilled in ER270 and has encountered deeper sandstones and coals in the region and the Company is pursuing a gas compartment discovery in the region where it plans further drilling. The success of 270-03C provides further confidence for core well drilling to the North adjacent to the Lily Gas Pipeline where multiple drill sites have already been approved.
Kinetiko CEO, Nick de Blocq, commented: “The completion of our latest corehole, 270-03C, has proven that we have gassy sediments proximate to the Lily Pipeline, which feeds all of the major thermal industries of the KwaZulu-Natal Province. At 605m TD, the depth of the borehole is the deepest we have encountered in recent drilling operations which bodes well in terms of potential flow rates and longevity of production. The initial field data from the logs show yet another highly successful result of our coring campaign efforts. It is most rewarding to keep our 100% strike rate intact, while proving an eventual basis for a Reserve aimed at supporting the imminent depletion of gas in the Lily line, or a direct feed into Newcastle.
Kinetiko further stated that further immediate core drilling is planned to commence next week to test regional extensions at the core hole location 270-05C and it is now moving its coring rig to the 270-05C location.
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