Kinetiko Energy Ltd (Kinetiko or the Company) released announcements titled:
• ‘Kinetiko Completes First Of Five Wells, Focus Shifts To Second Test’, dated 23 October 2024
(“Announcement 1”); and
• ‘Second Well Spudded In Five Well Gas Production Test Program’, dated 29 October 2024
(“Announcement 2”),
(together, Announcement 1 and Announcement 2 are the “Announcements”).
Following discussions with the Australian Securities Exchange (“ASX”) subsequent to the release of each of
the Announcements, the Company has included additional wording in relation to the following items in one
or both of the revised Announcements enclosed with this announcement (as specified below):
1. in relation to the 2C contingent resource disclosed at page 4 of Announcement 1:
a. an additional 1C contingent resource estimate for the 2C contingent resource for the
purposes of ASX Listing Rule 5.27.1;
b. a cross-reference to the relevant market announcement containing the statements and
consent referred to in ASX Listing Rule 5.42 in relation to the estimates of the 2C contingent
resource for the purposes of ASX Listing Rule 5.43.1;
c. confirmations from the Company that:
i. it is not aware of any new information or data that materially affects the
information in the relevant market announcement referred to for the purposes of
item 1.b above; and
ii. all material assumptions and technical parameters underpinning the estimates in
the relevant market announcement referred to for the purposes of item 1.b above
continue to apply and have not materially changed,
for the purposes of ASX Listing Rule 5.43.2;
2. in relation to the 2C contingent resource disclosed at pages 1, 4 and 5 of Announcement 2:
a. an additional 1C contingent resource estimate of the 2C contingent resource for the
purposes of ASX Listing Rule 5.27.1;
b. a cross-reference to the relevant market announcement containing the statements and
consent referred to in ASX Listing Rule 5.42 in relation to the estimates of the 2C contingent
resource for the purposes of ASX Listing Rule 5.43.1;
c. confirmations from the Company that:
i. it is not aware of any new information or data that materially affects the
information in the relevant market announcement referred to for the purposes of
item 2.b above; and
ii. all material assumptions and technical parameters underpinning the estimates in
the relevant market announcement referred to for the purposes of item 2.b above
continue to apply and have not materially changed,
for the purposes of ASX Listing Rule 5.43.2;
3. in relation to the 2U or ‘best estimate’ prospective resource disclosed at page 4 of Announcement
2:
a. an additional 1U or ‘low estimate’ of the 2U prospective resource disclosed in for the
purposes of ASX Listing Rule 5.28.1;
b. a cautionary statement stating the following in relation to the 2U prospective resource for
the purposes of ASX Listing Rule 5.28.2:
The estimated quantities of petroleum that may potentially be recovered by the
application of a future development project(s) relate to undiscovered
accumulations. These estimates have both a risk of discovery and a risk of
development. Further, exploration appraisal and evaluation is required to
determine the existence of a significant quantity of potentially recoverable
hydrocarbons.’
c. a cross-reference to the relevant market announcement containing the statements and
consent referred to in ASX Listing Rule 5.42 in relation to the estimates of the 2U
prospective resource for the purposes of ASX Listing Rule 5.43.1;
d. confirmations from the Company that:
i. it is not aware of any new information or data that materially affects the
information in the relevant market announcement referred to for the purposes of
item 3.c above; and
ii. all material assumptions and technical parameters underpinning the estimates in
the relevant market announcement referred to for the purposes of item 3.c above
continue to apply and have not materially changed,
for the purposes of ASX Listing Rule 5.43.2; and
4. a cross-reference to the relevant market announcement containing the statements and consents
referred to in ASX Listing Rule 5.42 in relation to the estimate of flow rate targets in both
Announcements for the purposes of ASX Listing Rule 5.43.1.
Accordingly, readers should not rely on the original versions of the Announcements when making any
investment decision and should, instead, reference the revised versions of the Announcements enclosed
with this announcement.
This announcement is authorised for release to the market by the Board of Directors of Kinetiko Energy Limited.
