HIGHLIGHTS
• Petroleum Agency of South Africa (PASA) has granted Afro Energy renewals
on Exploration Rights 270 and 272
• The Exploration Rights have been renewed for two years
• The renewals granted by PASA supported the approved work programs
Kinetiko has in place to accelerate exploration
Kinetiko Energy Ltd an Australian gas explorer and
developer focused on advanced shallow conventional gas and coal bed methane in South Africa,
is pleased to provide the following update on its onshore gas exploration and production
development activities.
The renewals covering an area of approximately 3,135km2 represent a substantial portion of
the Company’s current exploration rights and support the majority of the planned exploration
activities of 2023 (Figure 1). Following the Minerals and Petroleum Resources Development Act
of 2002 (MPRDA) Section 81:(4), under which the Company is entitled to continue with
exploration and appraisal operations, the renewals granted are for the first of potentially 3
renewal periods of two years. The company intends to apply for production rights in the near
future over these exploration rights with would be valid for an initial period of 30 years.
This announcement is authorised for release to the market by the Board of Directors of Kinetiko
Energy Limited.
