Australia's Kinetiko Energy jumps on entering JV agreement

Kinetiko Energy

23/12/2021 01:12

** Shares of Kinetiko Energy Ltd  KKO.AX  rise as much as
5.6% to A$0.095, their highest since Nov. 30
    ** Natural gas exploration co says its unit has entered a
50/50 joint venture terms sheet with Vutomi Energy urn:newsml:reuters.com:*:nAZN01YWSW
    ** Says JV aims to produce and sell electrical energy to
third party private sector buyers
    ** Stock posts its biggest intraday percentage gain since
Nov. 30
    ** Stock down 40% YTD, as of last close

 (Reporting by Arundhati Dutta in Bengaluru)
 ((Arundhati.Dutta@thomsonreuters.com;))