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KINETIKO ENERGY LTD (KKO)

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ASX, Legal & CGT Status

Former (or subsequent) names

 

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Our website ranking of KKO: rating 3
(3 out of 5)
COMPANY WEBSITE:

 

REGISTRY:

Automic Registry Pty Ltd
Level 5, 191 ST GEORGES TERRACE PERTH WA 6000
Tel : +61 (2) 8072 1400 or 1300 288 664 (within Australia)
RegistryWebsite RegistryEmail

Company details

ISIN: AU000000KKO2
Address: 283 Rokeby Road Subiaco WA 6008
Tel:  (08) 6315 3500Fax: (08) 9481 1947

Date first listed: 21/07/2011

Sector: Energy Industry Group: XEJ
Activities: Coal exploration

News & Events

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The securities of Kinetiko Energy Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of KKO, pending the release of an announcement regarding drilling results.

21/10/2024

The suspension of trading in the securities of Kinetiko Energy Ltd will be lifted immediately following the release by KKO of an announcement regarding a project update.

22/08/2023

Afro Energy (Pty) Ltd, a subsidiary of Kinetiko Energy Limited, has executed a non-binding Term Sheet with the Industrial Development Corporation of South Africa to co-develop a new joint venture for the appraisal and production of LNG to deliver. 50MW growing to 500MW gas equivalent energy. The first stage 50MW equivalent project is estimated to cost approximately A$138M2 comprising A$90M2 equity and A$48M2 debt. IDC shall equity fund approximately A$52M2 for 30% JV interest. Afro Energy shall equity fund approximately $A38M2 for 70% JV interest. Afro Energy has the right to introduce third party investorsto the JV for part or all of its 70% interest and can stage payment. The second stage intends the parties expand the JV to 500MW LNG gas equivalent, which would be the largest on shore LNG project in South Africa. The IDC intends to fund 30% of the second stage development. The IDC has been granted the option to participate in the co-development of further 1,000MW LNG gas equivalent projects, totalling 1.5GW. The Term Sheet underpins the Company's strategic objectives to unlock over 2TCF in gas reserves and become a sustainable cleaner energy solution for the South African economy.

22/08/2023

The Company requests that its securities continue be placed in voluntary suspension pending the release of the Maiden Resources and Reserves announcement and a further project update to follow. The Company requests that the voluntary suspension ends on the date the anticipated announcement is released to the market, which the Company anticipates will occur today being Monday, 21 August 2023.

21/08/2023

Maiden gas reserves of 3.1 BCF1 (6.4 BCF Gross) assessed over pilot gas production field underpinned by IDC joint venture has produced positive economics. 20% increase in 2C Contingent Resource to 3.0 TCF1 (6.0 TCF Gross) with the expectation for significant further upgrades from adjacent application exploration right (ER 320) when granted. Concurrent Prospective Resource 2U calculated at an additional 2.8 TCF1 (5.8 TCF Gross), convertible to contingent resource based on further exploration drilling. Maiden reserves assessed over initial 6.8 km2 30 well cluster which represents only 0.2% of the Afro Energy's granted rights providing for enormous potential for further increases in gas reserves.

21/08/2023

The Company requests that its securities continue be placed in voluntary suspension pending the release of the Maiden Resources and Reserves announcement and a further project update to follow. The Company requests that the voluntary suspension ends on the date the anticipated announcement is released to the market, which the Company anticipates will occur Monday 21 August 2023.

18/08/2023

The securities of Kinetiko Energy Ltd will be suspended from quotation immediately under Listing Rule 17.2, at the request of KKO, pending the release of an announcement in relation to a project update.

17/08/2023

The suspension of trading in the securities of Kinetiko Energy Ltd will be lifted immediately following the release by KKO of an announcement regarding a capital raising.

10/10/2022

The company releases a notice of proposed issue of securities.

10/10/2022

Kinetiko secures further funding commitment from South African energy investment company that participated in April 2022 capital raising. Firm commitments received for placement at $0.09 per share to raise A$5m (before costs). Issue price of $0.09 represents a 3.2% discount to the last closing price and 8.1% discount to the 14-day VWAP. Largest investment by private South African institutions to date demonstrates domestic support for Kinetiko's vision to become a major energy solution for South Africa. Funds to be used to accelerate exploration and gas resources growth.

10/10/2022

The securities of Kinetiko Energy Ltd will be suspended from quotation immediately under Listing Rule 17.2, at the request of KKO, pending the release of an announcement regarding a capital raising.

03/10/2022

The suspension of trading in the securities of Kinetiko Energy Limited will be lifted from the commencement of trading on Monday, 18 May 2020, following KKO demonstrating compliance with listing rule 12.2.

15/05/2020

The company received formal approval today from the Supreme Court of Western Australia to extend the last date for shares issued pursuant to the Company's prospectus dated 30 January 2020 and supplementary prospectus dated 27 February 2020 to be admitted to quotation to 21 May 2020.

14/05/2020

Prior to the expiry of the Quotation Period, 81,503,270 shares were issued under offers under the Prospectus. On 30 April 2020 an additional amount of 53,668,713 shares were issued. Whilst confirmation has been received that all shares have been quoted by the ASX, the shares were not admitted for quotation within the Quotation Period by reason of the fact that the Company remains in suspension. The issue of all shares under the Prospectus are deemed void and the Company is obliged under the Corporations Act to return all subscription funds to applicants for all of shares previously issued under the Prospectus, unless it obtains a relevant Court order extending the Quotation Period. The Company will soon apply to Supreme Court of Western Australia to extend the Quotation Period.

08/05/2020

The company lodges its Quarterly Activities Report.

30/04/2020

The company lodges its Quarterly Cashflow Report.

30/04/2020

The company releases an Appendix 2A.

30/04/2020

The company releases an Appendix 2A.

18/03/2020

The recent 1 for 4 non-renounceable entitlement offer at an issue price of $0.02 per share, closed on 27 February 2020. Shareholders subscribed for a total of 64,135,945 Entitlement Shares. The Board has also received strong expressions of interest in the shortfall, including applications for additional shares received with the entitlement acceptances. The maximum number of shares under the issue was 102,023 068, resulting in a shortfall of 37,887,123 shares.

03/03/2020

The company releases an Appendix 2A.

03/03/2020

The company issues a supplementary prospectus.

27/02/2020

The company releases an Appendix 2A.

12/02/2020

A copy of the prospectus in relation to the entitlement offer and a personalized offer acceptance form has been mailed to eligible shareholders today.

07/02/2020

The company lodges its Quarterly Activities Report.

31/01/2020

The company lodges its Quarterly Cashflow Report.

31/01/2020

The company releases a notice of proposed issue of securities.

30/01/2020

The company issues a prospectus for a non-renounceable entitlement offer of approximately 102,023,068 shares on the basis of 1 new share for every 4 shares held on the record date, at an issue price of $0.02 each to raise up to $2,040,461 before costs. The entitlement offer opens on 7 February 2020 and closes at 5:00pm (WST) on 27 February 2020. Valid acceptances must be received by the entitlement offer closing date. The prospectus is also for: the offer of the shortfall to the entitlement offer; for an offer of up to 50,000,000 new shares to placement recipients at an issue price of $0.02 per new share to raise up to $1,000,000 before costs. THe prospectus has been prepared for the purposes of section 708A(11) of the Corporations Act to remove any trading restrictions on the sale of certain shares issued on or prior to the closing date.

30/01/2020

The company announces the terms of a non-renounceable entitlement offer on the basis of one (1) fully paid ordinary share for every four (4) fully paid ordinary shares held by shareholders of Kinetiko with a registered address in Australia or New Zealand at 5pm (Perth time) on 4 February 2020. The entitlement offer shares will be offered at an issue price of 2 cents per share. The maximum order of shares which may be issued under the offer is 102,023,068 fully paid ordinary shares. The entitlement offer will raise approximately $2,040,461 if all shareholders subscribed for their entire entitlement to shares. The company may raise up to an additional $1,000,000 through a placement offer of 50,000,000 shares at an issue price of $0.02 per share. The company intends to apply the funds raised from the offer towards the ongoing exploration programs at the company's projects. The record date for entitlements under the offer is 4 February 2020 and the final date for receipt of applications for shares pursuant to the entitlement offer is 27 February 2020.

30/01/2020

The company lodges its Quarterly Activities Report September 2017.

29/01/2020

Kinetiko and Badimo Gas have worked together to complete outstanding financial accounts relating to its incorporated JV Afro Energy. The collaboration between the parties has enabled Kinetiko's South African assets to be restated to a value of $7.4m. The parties have agreed a work program for the exploration and exploitation of its existing and recently renewed and newly awarded exploration rights that have been approved by the DMR and PASA.

23/01/2020

The company lodges its Half Yearly Report and Accounts.

23/01/2020

South African regulator Petroleum Agency of SA renew Kinetiko's existing exploration rights on the Amersfoort Project and grant three further significant exploration rights. Amersfoort Project exploration rights ER56 and ER38 have been renewed. Three new exploration rights have been granted increasing the Company's total exploration rights by 378%. Total exploration rights now total 4,604kms2 approximately 150kms from South Africa's largest city Johannesburg and in the heart of the country's existing gas and power transmission infrastructure. Company is preparing to ramp up exploration, following the approval by PASA of work programs on the Amersfoort project to build on 10 years of successful gas exploration. Kinetiko has applied to the ASX to be reinstated to trading and expects to have all its outstanding financial audits completed within 7 days due to the strategic alignment with its South African partner Badimo Gas.

21/01/2020

The company releases the results of its AGM.

27/11/2019

The company lodges its Quarterly Activities Report.

31/10/2019

The company lodges its Quarterly Cashflow Report.

31/10/2019

Annual General Meeting to be held at Level 9, 40 St George's Terrace, Perth, Western Australia on 27 November 2019 commencing at 2.00pm (WST).

25/10/2019

The company has received additional funding by way of loans which are convertible to shares. The company has entered into several agreements during the period from 3 September to today. It has received $180,000, with a further $20,000 to be received in the coming weeks. The funds have been lent primarily by unrelated parties, with additional funds being lent to the company by Chairman Adam Sierakowski ($30,000) and major shareholder Brendan Gore ($50,000).

25/10/2019

The company releases its Appendix 4G.

30/09/2019

The company lodges its Annual Report to shareholders.

30/09/2019

The company issues a response to ASX Appendix 5B Query.

05/08/2019

The company lodges its Quarterly Activities Report.

01/08/2019

The company lodges its Quarterly Cashflow Report.

01/08/2019

The company lodges its Quarterly Activities Report.

30/04/2019

The company lodges its Quarterly Cashflow Report.

30/04/2019

The company lodges its Half Yearly Report and Accounts.

14/03/2019

The company lodges its Quarterly Activities Report.

31/01/2019

The company lodges its Quarterly Cashflow Report.

31/01/2019

The recent 1 for 4 non-renounceable entitlement offer at an issue price of $0.02 per share, closed on 6 December 2018. The Board advises that, including additional shares applied for, shareholders subscribed for a total of 40,073,288 shares totalling $801,466. This comprises 37,174,731 entitlement shares and 2,898,557 of additionally subscribed shares. The maximum number of shares under the issue was 71,239,498, resulting in a shortfall of 31,166,210 shares. The number of shares subscribed may be reduced if there are any dishonoured cheques in the funds banked.

12/12/2018

The company releases the AGM results.

23/11/2018

The company has extended the Closing Date of its pro rata non-renounceable entitlement offer to Eligible Shareholders to Thursday, 6 December 2018. Kinetiko has been very pleased with the positive responses it has received to the Entitlement Offer and has decided to extend the Closing Date in order to ensure maximum acceptance of entitlements.

19/11/2018

The company releases an Investor Presentation.

19/11/2018

The company mailed out a copy of the prospectus to shareholders.

12/11/2018

The company releases an entitlement offer letter to both eligible and ineligible shareholders.

07/11/2018

The Entitlement Offer shares will be offered at an issue price of 2 cents per share. The maximum number of shares which may be issued under the Entitlement Offer is 71,239,542 fully paid ordinary shares. The Entitlement Offer will raise approximately $1,424,791 (before expenses) if all shareholders subscribed for their entire entitlement to shares. The Company intends to apply the funds raised from the Offer primarily towards the ongoing exploration programs at the Company's projects.

06/11/2018

The company issues a prospectus for a non-renounceable, pro rata offer of approximately 71,239,542 New Shares on the basis of 1 New Share for every 4 Shares held by Eligible Shareholders on the Record Date at an issue price of $0.02 each to raise approximately $1,424,791 before costs.

06/11/2018

The company lodges its Quarterly Activities Report.

31/10/2018

The company lodges its Quarterly Cashflow Report.

31/10/2018

The company releases a notice of AGM and explanatory statement. The AGM will be held at the offices of Trident Capital, Level 24, 44 St George's Terrace, Perth, Western Australia on 23 November 2018 commencing at 10.00am (WST).

24/10/2018

The company releases its Appendix 4G.

24/09/2018

The company lodges its Annual Report to shareholders.

24/09/2018

The company commenced with additional exploration and appraisal on its flagship Amersfoort project. Joint estimated cost of tests amounts to approximately US$675,000 (AUD$950,000). World leaders in the design and provision of process contol and pumping systems Endress & Hauser AG and Franklin Electric Co. Inc have teamed up to provide an innovative pumping, separation and control package that is being trialled on the previously flow-tested well KA-03PT . Previous flow and pressure testing on the well achieved stabilised flow rates of up to 330,000 scf/day and produced 26MMscf over a 6 month test period. Kinetiko considers this undertaking, as a positive first step in the continued development of the Amersfoort project.

12/09/2018

Under Listing Rule 17.6, any entity (if not already suspended) that has not paid its annual listing fees by close of business on Tuesday, 21 August 2018 will have its securities suspended from official quotation before the commencement of trading on Wednesday, 22 August 2018. The company has not paid its annual listing fees in respect of the year ending 30 June 2019 but the securities are already suspended from official quotation. In accordance with Listing Rule 16.5, entities that pay their annual listing fees after Tuesday, 21 August 2018 must pay by bank cheque only. Under Listing Rule 17.15, any entity that has not paid its annual listing fees as required by Listing Rule 16.5 by 5.00 pm AEST on Tuesday, 28 August 2018 will be removed from the Official List with effect from the close of trading on Tuesday, 28 August 2018.

22/08/2018

Following a scheduled ASX internal system change affecting the Market Announcements Platform, it has been necessary to re-apply the "˜Suspend' session state. This announcement serves to re-confirm the securities of this entity remain suspended.

06/08/2018

The company issues a response to ASX Appendix 5B Query.

02/08/2018

The company and its directors have not been provided access to the accounting records of Afro Energy. The Company and its legal representatives in South Africa have commenced regulatory action to compel Badimo Gas (Pty) Ltd, the 51% owner of Afro, to supply the necessary financial records to enable audited financial statements of Afro to be prepared. Kinetiko is in the process of finalising its 30 June 2018 financial report and intends to lodge the report with ASX shortly.

02/08/2018

The company lodges its Quarterly Activities Report.

01/08/2018

The company lodges its Quarterly Cashflow Report.

31/07/2018

The company lodges its Quarterly Activities Report.

23/04/2018

The company lodges its Quarterly Cashflow Report.

23/04/2018

The company lodges its Half Yearly Report and Accounts.

16/03/2018

The company lodges its Quarterly Activities Report.

31/01/2018

The company lodges its Quarterly Cashflow Report.

31/01/2018

The company releases the results of its AGM.

29/11/2017

The company lodges its Quarterly Cashflow Report.

01/11/2017

The Annual General Meeting will be held at Suite 10, Level 1, The Spectrum Building, 100 Railway Road, Subiaco, Western Australia on 29 November 2017 commencing at 10.00am (WST).

26/10/2017

The company issues a response to ASX query.

16/10/2017

The securities of Kinetiko Energy Limited will be suspended from quotation immediately, pursuant to listing rule 17.3 pending the Company demonstrating compliance with listing rule 12.2

04/10/2017

The suspension of trading in the securities of Kinetiko Energy Limited (the "Company") will be lifted immediately, following receipt of an announcement.

17/08/2016

KKO, as a 49% shareholder in AE, has focused on proving commercial credibility of the Project and has pursued next phase funding from a credible South African institution focused on delivering first gas reserves, gas production, gas sales revenues and providing a funding partner with the capacity to develop multiple large production fields. The IDC was considered to be the best candidate to fulfill this objective. KKO anticipates undertaking a capital raising in the immediate future and is reviewing several fundraising strategies which include completing a further sophisticated placement or undertaking a non renounceable rights issue or combination of both.

17/08/2016

The company lodges its Quarterly Activities Report.

29/07/2016

The company lodges its Quarterly Cashflow Report.

29/07/2016

The company issues a a response to ASX Appendix 5B.

20/05/2016

The company lodges its quarterly activities report.

29/04/2016

The company lodges its quarterly cash flow report.

29/04/2016

The Company requests that the securities remain in voluntary suspension pending release of an announcement in relation to project funding and capital raising. The Company has experienced unexpected and additional delays and continues to await the outcome of significant negotiations that have taken place over the last 10 months. The Company understands negotiations are complete and we await advice of the decision and documentation. The Company requests that the voluntary suspension end on the date the announcement referred to above is released to the market, anticipated to be on or before Wednesday 5 May 2016.

21/04/2016

Further to our request of 23 March 2016 for the Company's securities to remain in suspension, the Company hereby requests that the securities remain in voluntary suspension in accordance with ASX Listing Rule 17.2 pending release of an announcement in relation to project funding and capital raising.

07/04/2016

The Company requests that the securities remain in voluntary suspension in accordance with ASX Listing Rule 17.2 pending release of an announcement in relation to project funding and capital raising. The Company requests that the voluntary suspension end on the date the announcement referred to above is released to the market, anticipated to be on or before Wednesday 6 April 2016.

23/03/2016

The company lodges its half yearly report and accounts.

14/03/2016

The Company requests that the securities remain in voluntary suspension pending release of an announcement in relation to project funding and capital raising. The Company requests that the voluntary suspension end on the date the announcement referred to above is released to the market, anticipated to be on or before Wednesday 23 March 2016.

09/03/2016

The securities of Kinetiko Energy Limited (the "Company") will be suspended from quotation from the commencement of trading tomorrow, Wednesday, 24 February 2016, at the request of the Company, pending release of an announcement. Security Code: KKO

23/02/2016

The suspension of trading in the securities of Kinetiko Energy Limited (the "Company") will be lifted immediately, following an announcement by the Company regarding the status of Amersfoort Project, Standard Bank mandate and results of aeromagnetic survey. Security Code: KKO

05/06/2014

the Company advises that it is still not in a position to be able to release the announcement contemplated and requests that the securities remain in voluntary suspension

02/06/2014

The securities of Kinetiko Energy Limited (the "Company") will be suspended from quotation immediately, at the request of the Company, pending release of an announcement. Security Code: KKO

20/05/2014

The suspension of trading in the securities of Kinetiko Energy Limited (the "Company") will be lifted immediately, following an announcement by the Company regarding a capital raising. Security Code: KKO

12/12/2013

The securities of Kinetiko Energy Limited (the "Company") will be suspended from quotation immediately at the request of the Company, pending the release of an announcement. Security Code: KKO

06/12/2013

listed entity carried for record purposes only

21/07/2011

 

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    Click here for free access to this company's:
    ASX, Legal & CGT Status

    Directors' on-market share transactions (last 5)

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    Purchases Sales

    DATEDIRECTORNUMBERPRICEAMOUNT
    12/08/2024Robert Scharnell125,000$0.082$10,250
    15/09/2021Adam Sierakowski300,000$0.094$28,099
    22/10/2014Adam Sierakowski50,000$0.062$3,088
    10/06/2014Adam Sierakowski275,000$0.091$25,022
    10/06/2014James Searle50,000$0.091$4,532

    Click here for the last 20 transactions all companies

    Directors & Executives (current)

    NAMETITLEDATE OF APPT
    Adam SierakowskiExecutive Chairman08/12/2010
    Nick de BlocqCEO10/08/2021
    Robert ScharnellNon Exec Director24/11/2023
    Donald NcubeDirector21/09/2023
    Robert BulderDirector21/09/2023
    Simon WhybrowCompany Secretary

    Date of first appointment, title may have changed.

    Directors & Executives (former)

    NAMETITLEDATE OF APPOINTMENTDATE OF RESIGNATION
    Geoff MichaelNon Exec Director25/01/201028/11/2023
    Thomas FontaineNon Exec Director09/02/202128/11/2023
    Johan VisageCEO10/08/2021
    James SearleNon Exec Director25/01/201024/02/2021
    Andrew LambertDirector19/06/201102/05/2014

    Date of first appointment, title may have changed.