Kinetiko Energy Ltd. provided 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. 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.