RSA Onshore Gas: Kinetiko once again finds Onshore Gas (Part 5)

By June 13, 2023NewsFlash
rsa onshore gas rsa energy crisis

Kinetiko Energy Limited, listed on the Australian stock exchange, announced on 13 June 2023 the successful drilling of two core holes in their exploration right area ER272 as part of their accelerated drilling programme. Herewith the link to their public announcement. Strong Gas Results from First Core Wells on Er272 near largest energy infrastructure. Therein, Kinetiko’s CEO comments as follows:

“It is always very rewarding to enter a new exploration block and have such an unexpectedly high level of success in the initial core holes. The TD (Terminal Depth) was shallower than what we encountered further south, just as predicted, due to the sloping nature of the Karoo basement structures; so the logged stratigraphy returning over 100m of gassy pay in both 272-01C and 272-02C was a most encouraging outcome. We are in the process of moving the two core rigs to sites 272-06C and 272-08C due to the logistical expedience of proximity, and we have no reason to expect anything but success from these core holes as well. Of course, the strategical placement of the current exploration effort so close to Secunda is obvious. Sasol runs one of the world’s biggest and best Coal-To-Liquids plant at Secunda, and they have stated their need to move towards a Gas-To-Liquids conversion as they reduce pollution whilst increasing the quantum of their fuels output going forward. We absolutely expect to be a large part of that positive evolution towards greener liquid fuels.”

These drilling successes expands our understanding of the geology of the Permian aged Karoo coal basin, increases onshore potential gas resources and further reduces exploration risk in the surrounding areas.  It is worth noting that one of Bastion’s blocks (reference 369ER on the map below) borders Kinetiko’s ER272 to the east, measuring 2061km2., approximately 3 times the size of ER272.

To the south of ER272 lies Bastion’s affiliate, Bulwark’s technical cooperation permit area (reference 209TCP on the map below) measuring 1242km2. These results fall in line with our belief that onshore gas, in close proximity to Sasol’s Secunda, have the potential to supply them with readily available gas and facilitates Sasol’s desire to transition to gas as primary feedstock.

As Bastion continues to de-risk its onshore gas opportunities through intelligent exploration, we look forward to partnering with like-minded companies, development finance institutions and industry as joint venture partners, financiers, contractors and gas off-takers who like us consider this a worthwhile endeavour.

 

For more information please contact the undersigned at barrisford@bastionoil.com or info@bulwarkoil.co.za

 

Barrisford Petersen
Founder and Managing Director
Bastion Oil and Gas South Africa (Pty) Ltd
Bulwark Oil And Gas Sa (Pty) Ltd
Rockit Energy (Pty) Ltd

 

 

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