Kinetiko Energy Ltd (ASX:KKO, OTC:KKOEF) CEO Nick de Blocq tells Proactive the company has received funding from the Industrial Development Corporation of South Africa (IDC), for use in the development of gas fields for industrial, commercial, transportation or power generation applications. The proposed gas field comprises about 20 wells to produce gas and IDC has a first right to participate in up to 45% of the next 60 wells. The company already has approvals in place for the JV and field commencement which is expected to begin in late 2023.

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