KKO kinetiko energy ltd

Ann: Kinetiko Gas Production Test Well Performance Update, page-4

  1. 956 Posts.
    lightbulb Created with Sketch. 200
    More unbelievable incompetence and stupidity.

    Six months and two wells into their production testing they discover their drilling process is actually blocking the gas flow!;
    "The latest data from both production test wells suggests that drilling procedures may have temporarily restricted gas flow. Evidence points to water blockages or a residual skin effect lining the wells, potentially impeding gas movement.:

    Fortunately, by sheer luck, the drilling damage slowly dissipates;
    However, as these blockages gradually dissipate, further testing has observed a periodic increase in gas production.

    So belatedly they decide perform a drill optimisation study;
    These insights are now being integrated into Kinetiko’s geological modeling to refine decision-making for subsequent wells. To further optimise gas extraction, the company is implementing a drill optimisation study, which will evaluate . . . . .

    You could not make this up.
    These highly paid idiots just started drilling as if they were hick farmers looking for water, without any petroleum drilling due diligence or application of standard petroleum drilling technology.
    Six months of the production drilling and testing is wasted - they cannot be sure the damaged holes are giving reliable flow rates, and they will have to be redrilled.

    Thank goodness low energy Nick de Blog is gone, but he is not the only one to blame for this fiasco. They should all be named and shamed.
 
Add to My Watchlist
What is My Watchlist?
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)
Last
6.0¢
Change
0.000(0.00%)
Mkt cap ! $88.79M
Open High Low Value Volume
0.0¢ 0.0¢ 0.0¢ $0 0

Buyers (Bids)

No. Vol. Price($)
3 159836 6.0¢
 

Sellers (Offers)

Price($) Vol. No.
7.0¢ 8023 1
View Market Depth
Last trade - 12.18pm 01/07/2025 (20 minute delay) ?
KKO (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.