Kinetiko Energy Ltd. provided the following update on its onshore gas exploration and production development activities. Core hole 270-06C spudded on 3 November 2022 and is designed to test the potential of the southerly dipping basement structures. This core hole is anticipated to provide deeper, higher- pressured gassy sands and coal sequences and open up an entirely new area for possible gas production.

Kinetiko expects to core the entire stratigraphical profile from the top of the dolerites to an approximate terminal depth of beyond 500m. On completion of the drilling the Company will log the borehole and perform onsite gas emission and desorption analysis. The Karoo sequences are known to dip southwards in this region and therefore expect to encounter deeper terminal depths in southernmost boreholes, with concurrently higher pressures and gas flow rates versus discoveries to the north.

This core hole (which will be followed by others in the next few months) is being drilled to both test this theory as well as provide a new facet to eventual production plans.