Investor Insight
Kinetiko Energy is advancing a large-scale, shallow onshore gas project in South Africa, targeting near-term CNG/LNG production to strategically supply a domestic market facing a critical energy shortfall. The company’s growth strategy is supported by reported significant contingent resources, pilot project gas reserves, strong gas flow results and a JV funded development pathway.
[The company’s corporate video can be viewed on its website at www.kinetiko.com.au]
Overview
Kinetiko Energy (ASX:KKO) is an onshore gas exploration and development company focused on commercialising shallow conventional gas resources in South Africa’s Mpumalanga Province. The company’s exploration rights are located near ageing coal-fired power stations and established energy infrastructure, positioning Kinetiko to supply gas into a domestic market experiencing chronic power shortages and seeking cleaner, reliable alternatives to coal-based power generation.
Location of the company’s exploration rights adjacent to energy infrastructure
The company has achieved maiden gas reserves with positive economics and has reported 6 Tcf of 2C contingent resources, establishing a substantial onshore gas project with significant scale potential. Kinetiko is progressing a staged development strategy through Project Alpha, supported by a binding Joint Development Agreement with FFS Refiners. Management brings a combination of deep local operating experience, capital markets expertise and decades of energy and infrastructure experience, underpinning Kinetiko’s transition from explorer to gas producer.
Milestones and Growth
100 % EXPLORATION SUCCESS
All 50 wells have successfully encountered gas with large, shallow pay zones, suggesting uniform geology throughout entire tenement package
RESOURCE & RESERVE
Reserve totals 6.4 BCF (2P) assessed over Brakfontein pilot confirms positive economics. Reserve calculated over only 0.2 percent of granted tenements (Sproule B.V. certified)
RESOURCE GROWTH
Anticipated to increase following flow testing program and grant of ER383 (2,383 sq km), increasing project life and value. Further drilling is expected to upgrade 5.8 TCF 2U Prospective Resource into 2C Resource
MULTI-SITE DEVELOPMENT POTENTIAL
Large tenement holding overlapping key energy infrastructure, allowing multiple gas field developments for multiple public and private customers which improves investor returns/value
DEVELOPMENT PARTNERSHIPS
Agreements in place with the Industrial Development Corporation of South Africa and FFS Refiners to co-fund and develop pilot plant and scale to full commercial production.
Company Highlights
Advancing a world-class onshore gas project with 6 trillion cubic feet (Tcf) of 2C contingent resources and maiden gas reserves with positive economics Strong extended flow test results from production test wells at Brakfontein, with methane purity exceeding 98.5 percent Additional exploration acreage to grow current contingent resources and reserves Binding Joint Development Agreement with FFS Refiners to co-develop a staged LNG project, starting with a 5,000-tonne-per-annum (tpa) pilot plant Located in South Africa’s primary power-producing region, close to existing infrastructure and major demand centres Clear pathway from exploration to production, supported by recent funding, reserve certification work and production right applicationsKey Project
Brakfontein Gas Project
The Brakfontein gas project is Kinetiko Energy’s most developed gas field in South Africa. Located in Mpumalanga Province, Brakfontein comprises a cluster of seven shallow conventional gas wells positioned near existing energy infrastructure and major centres of power demand.
Recent extended flow testing at Brakfontein has delivered strong results from two production test wells, 271-KA03PT06 and 271-KA03PT10, which together produced nearly 8 million cubic feet of gas during sustained testing. Well 271-KA03PT06 produced 4,432 Mscf over 27 days at an average rate of 164 Mscfd, while 271-KA03PT10 produced 3,522 Mscf over 40 days at an average rate of 91 Mscfd. Gas produced from both wells recorded methane purity exceeding 98.5 percent, supporting the project’s commercial development potential.
Development of Brakfontein is being advanced under Project Alpha, a staged framework established through a binding Joint Development Agreement (JDA) with FFS Refiners a leading South African hydrocarbon solutions provider. Phase 1a focuses on gas field development activities, including the co-funded drilling of additional production wells, upgrades to existing wells, further gas testing, appointment of a competent person for certification of gas reserves, preparation of an LNG business case and submission of a production right application. Kinetiko is the operator for this phase.
Subject to Phase 1a outcomes, Phase 1b is designed to take into production a 5,000 tpa micro-LNG pilot plant, situated at the Brakfontein gas field. The pilot plant would be developed through a 50/50 special purpose vehicle between Kinetiko and FFS Refiners, with responsibility for LNG production, marketing and distribution.
Beyond the pilot phase, Project Alpha provides a structured pathway for scaling LNG production from the same Brakfontein asset. Phase 2 contemplates expanding liquefaction capacity to approximately 25,000 tpa, while Phase 3 envisages further expansion across additional Kinetiko tenement areas, with potential LNG capacity increasing up to 125,000 tpa, subject to technical, regulatory and commercial outcomes.
Management Team
Adam Sierakowski – Executive Chairman
Adam Sierakowski is a corporate lawyer and founding director of the legal firm Palisade Corporate. He is the managing director and founder of Trident Capital, where, for over 20 years he has used his vast corporate legal experience consulting and advising on a range of transactions to a variety of large private and listed public entities. He has advised and guided many companies undertaking IPO, RTO, fundraising and M&A activities in Australia and overseas.
Sierakowski was the inaugural non-executive chairman of the Company from 2010 and became executive chairman in January 2021. He also holds director positions in several ASX listed companies.
Rob Bulder – Interim CEO; Non-executive Director
Rob Bulder is a qualified chartered accountant with over 30 years of commercial experience. Bulder has held numerous senior management and executive board positions in the manufacturing, financial services, IT, airline and gas industries, overseeing multi billion Rand budgets. These positions included that of Group Financial Director of Paragon Business Communications Ltd, a company listed on the Johannesburg Stock Exchange, as well as the position of (acting) Executive Vice-President of South African Airways SOE and CEO of South African Airways Technical Division (Pty) Ltd, a multi-billion Rand division of SAA Ltd and that of the Vice President of Business Development for SAA LtRob is a qualified
Don Ncube – Non-executive Director
Donald Ncube has a master’s degree in Manpower Studies from the University of Manchester.
Ncube is recognised and respected as one of the reputable pioneers of Black Economic Empowerment. He is the founder and former chairman and chief executive officer of Real Africa Holdings (Pty) Ltd, a listed company on the JSE.
Ncube carved his professional career in the mining industry. He worked for the Anglo-American Corporation for 22 consecutive years and was the first South African black to sit on the Board of Anglo-American Corporation. Ncube has a performance track record as Chairman of successful corporations such as Sun International, Oceana Fishing Group, South African Airways and Atomic Energy Corporation.
Don Ncube, together with Brian Hughes (Reservoir Engineer) and Paul Tromp Petroleum Geologist) founded Badimo Gas (Pty) Ltd, which applied and obtained gas exploration rights from the Department of Mineral Resources and Energy in South Africa. Ncube is the executive chairman of Afro Energy (Pty) Ltd, which currently holds the exploration rights and is 100 percent owned by Kinetiko Energy.
Mxolisi Donald Mbuyisa Mgojo – Non-executive Director
Mxolisi Mgojo has been in the mining industry since 2001. Prior to that, his career includes 10 years as a software engineer and 8 years in the finance industry, including Societé Generale Investment Banking.
Mgojo worked for Exxaro Resources since its inception in 2006, heading the Base Metals and Industrial Minerals business before being appointed as the executive head of coal in August 2008. In May 2015, Mgojo was appointed as CEO Designate and took over the reins from Sipho Nkosi as chief executive officer on 1 April 2016, a position he held until his retirement in July 2022.
Mgojo was the President of the Minerals Council South Africa from 24 May 2017 until 26 May 2021 and has been serving on the Board of the Minerals Council since 2015 and the Collieries Committee of the Council before becoming a board member. Mxolisi joined the Business Leadership South Africa board on 1 April 2020 and resigned on 1 July 2022. On 26 January 2024 Mxolisi was appointed President of Business Unity South Africa. From November 2024 to November 2025, he is serving as the B20 South Africa Co-Chair.
On 27 May 2017, Mgojo received the Paul Harris Award from the Hatfield Branch of the Rotary Foundation. In November 2019, he was named a finalist in the Master Category of the 2019 Ernst & Young World Entrepreneur of the Year Awards for Southern Africa. On 3 June 2022, Mgojo was awarded the All Africa Business Leaders Award, 2022 Business Leader of the Year, honouring his four-decade-long multi-continental career in business that has seen him work as a software engineer, a banker, and for the last 21 years, in the resources area. On 4 October 2022, Mgojo was inaugurated into the SA Mining Hall of Fame at the Joburg Indaba for his exceptional leadership in the South African Mining Industry
Robert Scharnell – Non-executive Director
Robert Scharnell is an experienced international business executive with over 30 years of demonstrated achievement at Chevron Corporation in establishing and implementing business strategy. He has conducted business in over 20 countries and under complex situations, for large values including negotiating multi-lingual agreements, sales/purchase transactions, and settling claims and disputes on the scale of over $1 billion in value.
His breadth of experience extends beyond the core energy business, with a career highlight in managing the creation and implementation of an award-winning economic development and social impact project in Africa. This project transformed Chevron’s approach to improving lives within the communities in which it operates.
Paul Doropoulos – Chief Financial Officer
Paul Doropoulos has approximately 25 years of combined experience in an executive consultant capacity to ASX-listed companies in the energy, minerals, mining services and media sectors. Time during this period was spent as both an executive and non-executive director of ASX companies. Further, v has extensive experience in the hospitality and associated industries. Doropoulos was directly involved in the successful ASX listings of Kinetiko Energy Limited in 2011. In addition,
Doropoulos holds a Bachelor of Business Degree with a Finance Maths minor
Richard Wolanski – Corporate Finance
Richard Wolanski, B.Com, ACA, is a Chartered Accountant with qualifications that include a Bachelor of Commerce from the University of Western Australia. Wolanski has over 30 years professional experience in the finance and mining industries at an international level. He has provided corporate, strategic and financial advisory assistance to public companies in Australia, Singapore and the United Kingdom.
Hendrik Burger Jr – Operations Manager
Hendrik Burger, or “Junior”, as he is known to our team, has been with Kinetiko from the start of test well operations in 2012. He has maintained continuity for the project with the local communities and, since 2012, has resided in Amersfoort, the hub of the project.
Burger is the site foreman and is responsible for the day-to-day maintenance and operations of our total project in the field. From equipment fabrication to farmer relations, Burger is our man on the ground. He is a trusted and reliable member of Kinetiko’s South African team. He has also been part of the well testing team since 2012. Junior never says he can’t do something, no matter how difficult, he finds a way. He is the best-known face of Kinetiko in the field, and sensitive to the Afrikaans and African cultures, which are so important on the ground in South Africa.
His technical skills include: Heavy equipment manufacturing, mechanical, electrical, hydraulics, welding (CO2, stick welding, TIG welding), plasma cutting, cutting & grinding, HDPE welding, TLB operation, borehole cementation, heavy-duty driver’s license, PDP license, advanced drone photography, fluent in Afrikaans and English, conversational Zulu.
Field experience includes oilfield chemicals, casing and full cementation solutions, core and well drilling, well testing as well as responsibility for our operational SHEQ obligations.
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Simon Whybrow – Company Secretary
Simon Whybrow is a highly driven and dedicated professional with a wealth of experience as a CFO, company secretary, and commercial manager. His key strengths lie in financial administration and control, boardroom practices, corporate and business strategy, process improvement, and general management. Whybrow also specialises in overseeing financial operations and ensuring effective administrative processes. His expertise extends to implementing sound corporate governance practices and contributing to strategic decision-making.
