Kinetiko Energy Limited provided the following update on its onshore gas exploration and production development activities. 271-23C core desorption testing has returned a remarkable result; an average of over 5m 3/t with most gas coming from the interval between 320m and 350m. Kinetiko have also observed a record-breaking peak at 285m of 13 m 3/t, and still rising, probably due to proximity to a dolerite dyke. Core hole 270-03C spudded on 24 January 2023 and is designed to test the potential of the southerly dipping basement structures. This core hole is anticipated to provide deeper, higher-pressured gassy sands and coal sequences similar to those encountered in 270-06C. The new core well is strategically located approximately 2 km from the South Africa's most significant gas pipeline, the Lily Pipeline and provides potential distribution infrastructure to major gas markets in the KwaZulu-Natal province of South Africa. Kinetiko expects to core the entire stratigraphical profile from the top of the dolerites to an
approximate terminal depth of beyond 500m. On completion of the drilling the Company will log the corehole and perform onsite gas emission and desorption analysis.