Read the new research report here:
https://mcusercontent.com/66bd1dd2271dabeed2b6eefb3/files/cfd9194f-8cf8-5b5f-e237-5eff2a128963/KKO20210906_Research_Report_final_v1.pdf
Overview
Kinetiko is a gas exploration company targeting South Africa’s growing unmet energy demand, with 100% interest in 3 permits with 4.9 tcf of 2C contingent resources. A $4.8m capital raising and acquisition of JV partner Badimo Gas now provides the funding and structure to accelerate appraisal and further exploration. Kinetiko should shortly commence gas sales from existing and its own new wells, followed by a 3rd party-funded 15-20 well pilot, delivering ~1-2 TJ/d by 2023. Successful demonstration should lead to a 300 well project in 2023/24, producing ~12 TJ/d, with later expansion to 100+ TJ/d. We value KKO at $0.32/sh, with upside to $0.87/sh on derisking
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