News flash
- Kinetiko Energy Limited (ASX: KKO) (Kinetiko or the Company) is developing an energy transition solution for South Africa focused on commercialising advanced shallow conventional gas projects in the Mpumalanga Province. Read more
- Kinetiko is pleased to advise that the renounceable pro-rata Entitlement Offer to eligible shareholders (Entitlement Offer) announced to the ASX on 15 May 2024, closed on 11 June 2024, raising approximately A$4.9m (before costs).
Kinetiko Executive Chairman, Adam Sierakowski commented:
“On behalf of the Board of Directors, I wish to thank all shareholders for their comprehensive support of the Entitlement Offer. The funds raised under the Entitlement Offer will be used to aggressively advance the Company’s gas exploration activities. These activities, highlighted by the five (5) appraisal production wells to be drilled this year, are planned to achieve the highest flow rates and technical outcomes. Successful results from these wells are expected to significantly mitigate the technical risk associated with the unique geology of the Company’s world-class onshore gas discovery, paving the way for a promising future.”
Find out more on Kinetiko’s gas to power operations in South Africa HERE
Author: Bryan Groenendaal
