Kinetiko Upgrades South Africa CBM Reserves
Kinetiko Energy has said that its gas reserves at Amersfoort gas project in South Africa have seen a significant increase. Latest estimates suggest that reserves have risen to 2.4 trillion cubic feet of gas, up 41% from previous estimates.
The upgrade was derived from the conventional gas accumulations overlying the coals seams, enhancing the commercial potential of the project. Kinetiko had discovered the relatively shallow, sandstone gas in all 10 of its exploration boreholes.
The company will most likely start pilot production program in September 2012. It looks to target booking gas reserves in early 2013.