Here’s why the Kinetiko (ASX:KKO) share price is up 18% today

The Kinetiko Energy Ltd (ASX: KKO) share price has risen 18% today to 13 cents per share, regaining the losses it experienced yesterday after the recent release of the company’s half-yearly results for the period ended 31 December 2020.

Kinetiko shares are up a whopping 550% over the past 12 months after continued success in the company’s gas exploration projects.

Promising aeromagnetic surveys and significant gas resources

During the period, Kinetiko completed $1.2 million in interim funding to accelerate gas production from its Amersfoort Project in South Africa, where it believes it may be sitting on one of the world’s largest coal basins. 

Perth-based Kinetiko is undertaking the Amersfoort Project as a joint venture (49%…