Kinetiko Energy Limited and Badimo Gas (Pty) Limited have both signed a dispute resolution agreement whereby all disputes existing between the parties will be resolved and the parties will pool assets to form an incorporated joint venture in South Africa.

Badimo Gas will hold a 51% stake in the resulting joint venture, Afro Energy, while Kinetiko Energy will own the remaining 49% stake. Afro Energy will own and operate the Amersfoort project, in South Africa, as well as its adjacent applications.

 

The formation of the joint venture strengthens both parties’ ability to further develop the Amersfoort project.

 

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