8 Nov 2022drilling spud● Neutral
Core well 270-06C spudded 3 November, the first hole on ER270, targeting deeper sandstone and coal beyond 500m. It is the second of the seven planned core holes and tests the theory of higher pressures to the south.
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2 Nov 2022drilling result▲ GoodMajor
Core hole 271-23C near Majuba finished at 478m with 247m of gas-bearing rock below a dolerite cap; desorption gas content already up to 9 m³/tonne. Next hole, 270-06C, is the first on ER270 to the south.
13 Oct 2022drilling progress report▲ Good
Core hole KV-14C, renamed 271-23C, intersected strong gassy geology and was below 320m. Merger meeting documents were lodged with the vote set for late November, and Sproule's maiden reserves report remained on schedule within six weeks.
26 Sept 2022drilling spud● Neutral
Core hole KV-14C spudded on 21 September 2022 near Majuba power station, targeting about 450m depth. It is the first of seven core holes planned over the next 4-5 months.
12 Sept 2022drilling scheduled▲ Good
Drill rig mobilised for core hole KV-14C, within 5 km of Eskom's Majuba power station, starting 19 September. At least six more core holes are planned by year end across ER272 and ER270. Restarts the exploration program.
4 Apr 2022farm in farm out agreement▲ GoodMajor
Afro Energy signs a joint development agreement with South Africa's state-owned IDC for a roughly 20-well gas field on ER271: IDC puts in R70m for 45%, Afro R85m for 55%. Binding loan agreements are due by 1 August 2022; this is the long-awaited institutional funding, with field start expected late 2022.
17 Feb 2022drilling progress report▼ Bad
All three Korhaan wells are logged, with similar geology and depths of 432-450m. A lightning strike on Korhaan-5 damaged the pump communications, suspending testing two weeks; flow tests now expected to resume in the last week of February. Delays the first flow rates.
4 Feb 2022drilling result▲ Good
Korhaan-5 (432m) has flowed gas and been logged, with about 133m of cumulative sand intervals; Korhaan-3 reached TD at 449m with strong gas shows and no groundwater inflow. Flow tests of 8-10 days per well are due to start 6 February. Flow rates still unmeasured.
27 Jan 2022resource reserve update▲ GoodMajor
Interpretation of the third aeromagnetic survey found 42 new gas-prospective compartments (264 km2), taking the total from 37 to 79 compartments covering 1,229 km2. These are prospective targets, not a booked resource.
24 Jan 2022drilling result▲ GoodMajor
Korhaan-5 reached 432m with gas throughout the production section, and Korhaan-3 hit substantial gas in its surface section at 177m. Korhaan-4 is logged and flow testing is due next week. The company claims a 100% gas discovery success rate; flow rates are still unmeasured.
12 Jan 2022drilling progress report● Neutral
Drilling resumed 10 January. Korhaan-4 is to be logged and then flow tested for at least a week; Korhaan-5 and Korhaan-3 follow, with Korhaan-3 now to use air/percussion rather than mud. Aeromagnetic interpretation is under way. No new results.
20 Dec 2021drilling result▲ GoodMajor
Korhaan-4 reached 443m, the longest production interval in the Amersfoort area, with robust gas flows observed under choked conditions. Regulated flow testing is planned for early January 2022. A first positive result from the new campaign, though not yet a measured flow rate.
7 Dec 2021drilling progress report● Neutral
Storms and cementing-tool delays slowed drilling. Korhaan-3 is suspended at 102m until January 2022. Gas shows were noted at the base of the dolerite in each well. The 564 km2 aeromagnetic survey is complete, with processing due December-January.
25 Nov 2021drilling spud● Neutral
Third well, Korhaan-3, spudded, completing the three-well program's spuds for the year. Korhaan-4 is to drill into the gassy zones within days; Korhaan-5 has cased to about 150m. No flow results yet.
16 Nov 2021drilling spud● Neutral
Second well, Korhaan-5, spudded (air to 150m, then rotary mud to about 450m). Korhaan-4 is paused after casing to about 130m awaiting cementing hardware, and Korhaan-3 is now expected within days after Korhaan-4 reaches depth.
4 Nov 2021drilling spud▲ GoodMajor
First of three Korhaan wells, Korhaan-4, spudded using air/percussion drilling to about 450m, ending the long gap in new drilling. Korhaan-3 is expected the week of 15 November; flow rates will be assessed after Korhaan-4 completes.
20 Oct 2021drilling scheduled▲ Good
A drilling contractor (Torque Africa) is engaged for the three-well Korhaan program, drilling to 400-450m, with the first rig spudding as early as next week and drilling due to finish by early December. The largest-ever aeromagnetic survey has also started flying.
8 Sept 2021drilling scheduled● Neutral
A fourth aeromagnetic survey (13,479 line-km, 564 km2) over parts of ER270 and ER272 is confirmed, with results expected next month. The three-well program is said to remain on track, with the drilling contractor still to be chosen.
12 Aug 2021drilling scheduled▲ GoodMajor
Three new wells (KA-03PT7, PT8, PT9) are planned and approved, within 400 m of the gas terminal, with rigs expected on site in September and completion by November. With existing wells they could form a 5-well pilot cluster. First new drilling on the project in over 6 years.
3 Mar 2021drilling result▲ Good
Third aeromagnetic survey interpretation finds six new potential gas compartments (77 km2) and the largest dolerite dyke so far, bringing the total to 37 compartments and 257 km2. These are interpreted targets, untested by drilling. Surveyed area now 965 km2, 21% of granted ground.
26 Nov 2020drilling progress report● Neutral
The third aeromagnetic survey is complete: 6,011 line-km over 273 km2 of ER271 and ER38. Processing and interpretation are expected by mid-January 2021, a delay from the December expectation given on 18 November.
18 Nov 2020drilling progress report● Neutral
A third aeromagnetic survey has started: 6,011 line-km over 273 km2 of ER271 and northern ER38, linking the earlier survey areas. Results are expected in December 2020 to help target well tests and pilot fields.
14 Oct 2020drilling result▲ Good
Interpretation of the ER38 survey identifies 10 further potential gas compartments, up to 22 km2 each and 124 km2 total, larger than those on ER56. Says the data is advancing funding talks with South African institutions for a pilot field. Potential only, untested by drilling.
24 Sept 2020drilling result▲ Good
Initial interpretation of the July aeromagnetic survey finds 10 new gas compartments on ER56, doubling the total to 20. It may also support a revision of the 4.9 Tcf contingent resource. ER38 interpretation is ongoing. These are interpreted targets, not drilled results.
29 July 2020resource reserve update▲ GoodMajor
Gustavson lifted the Amersfoort contingent resource (2C, gross) from 1.5 Tcf to 4.9 Tcf (up 227%), and prospective gas in place from 2.4 to 9.3 Tcf. Kinetiko's 49% share of 2C is about 2.4 Tcf. Excludes pending ER320; aeromagnetic data may allow a further revision.
23 July 2020drilling progress report▲ Good
The aeromagnetic and radiometric survey flying is complete: 11,563 line-km over 474 km2 of Amersfoort. Results are expected by end of July to identify well test and pilot field areas.
6 July 2020drilling progress report● Neutral
The aeromagnetic survey has started, flying 11,563 line-km over 474 km2, 325% larger than the 2014 survey. Results are expected by end of July to help pick well test sites and pilot fields.
17 June 2020resource reserve update▲ Good
Gustavson Associates appointed to update the resource certification to include the new exploration rights, with a report expected within about four weeks (before 15 July). The current certified base is 1.5 Tcf contingent. Upgrade is possible, not assured.
27 May 2020drilling scheduled▲ GoodMajor
Exploration restarts at Amersfoort after about six years, with an 11,563 line-km aeromagnetic survey over 474 km2 (mostly ER38) planned to sharpen well targets. It could support a revision of the 1.5 Tcf resource, as the 2014 survey did.
17 Feb 2016resource reserve update▲ GoodMajor
Gustavson's updated estimate lifts 56ER P50 (2C) contingent resources to 655.7 bcf. Gas in place P50 is up 28% (1,083.2 bcf), with the sandstone portion up 55%, on the 2012 estimate. It covers about 32% of the prospective geology across 56ER and 38ER.