WA explorer strikes joint venture deal in South Africa

waKinetiko Energy has signed a memorandum of understanding with White Rivers Exploration to search for gas in South Africa.
The agreement will see the two companies form a 50:50 joint venture to explore a 716 square metre block in the Karoo Basin coalfields. The agreement covers three technical co-operation permit (TCP) areas at Heilbron, Kroonstadt and Ventersburg, which are “known to contain coal measures at depth”, Kinetiko stated.
Ventersburg and Kroonstadt are in the Free Sate gas field, which contains widespread gas occurrences from coal and mineral drilling, while Heilbron is opposite an area where helium was commercially produced.
White Rivers Exploration is a South African company with coal and gold assets, as well as coal exploration rights for underlying onshore gas TCPs.
“As JV operator, Kinetiko looks forward to working closely with the technical management of White Rivers to maximise the benefits from applying an extensive data base and knowledge of coal geology in the area to methane gas exploration,” Kinetiko stated.
TCPs allow the holder to access government data relating to the area and provide the right to convert the area to an exploration right.