Australia's Kinetiko Energy jumps on gas supply deal with South African firm

Kinetiko Energy

16/02/2023 03:31

** Shares of Kinetiko Energy Ltd  KKO.AX  rise as much as
15% to A$0.10, on track for best day since Dec 13, if gains hold
    ** Gas explorer says it has executed a LoI (letter of
intent) with South African owner and operator of energy assets,
Gruner Energy
    ** Under LoI, co to explore, drill and extract natural gas
within South Africa with Gruner's assistance in production and
purchase of such natural gas
    ** KKO hits its highest level since Jan 30
    ** Stock down 24% this year, as of last close
 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))