Australia's Kinetiko Energy hits near 2-year high on gas development potential

Kinetiko Energy

30/11/2022 01:18

** Shares of gas explorer Kinetiko Energy Ltd  KKO.AX  climb
as much as 36.4% to A$0.150, their highest since Jan. 15, 2021
    ** Co says gas desorption testing and wireline logging
results from a core hole near Majuba power station in South
Africa indicate potential for gas field development
    ** Adds another core well in the area has intersected strong
gassy geology
    ** More than 4.2 mln shares change hands, 27.1 times the
30-day average volume of 156,014 shares
    ** As of last close, stock up 20.3% this year
 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))