Kinetiko is taking the fast train to South African gas production

Kinetiko South African gas production

  • Kinetiko setting the stage for gas production
  • Key deal with IDC to co-fund an initial 20 wells
  • Large acreage has plenty of potential

South African-focused gas play Kinetiko Energy (ASX:KKO) has been on a tear in recent months with exploration drilling progress, acquiring Afro Energy, and reaching a key joint development agreement with the Industrial Development Corporation of South Africa (IDC).

Speaking to Stockhead, executive chairman Adam Sierakowski said the company has been putting a lot of things in place to achieve its goal of becoming a gas producer by accelerating its exploration initiatives.

It has also been aided by the removal of former South African president Jacob Zuma from power and the appointment of Cyril Ramaphosa to replace him.

“There was probably until that point a lot of investors who felt that South Africa had a great deal of sovereign risk,” Sierakowski noted.

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