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Drilling Update: Gas shows in Legacy Well
RENERGEN LIMITED
Incorporated in the Republic of South Africa
(Registration number: 2014/195093/06)
JSE Share Code: REN
A2X Share Code: REN
ISIN: ZAE000202610
LEI: 378900B1512179F35A69
Australian Business Number (ABN): 93 998 352 675
ASX Share code: RLT
(“Renergen” or “the Company”)
DRILLING UPDATE: GAS SHOWS IN LEGACY WELL
Emerging domestic natural gas and helium producer Renergen is pleased to provide the
following update on current drilling operations at its Virginia Gas Project, situated in South
Africa’s Free State province.
The Company currently has two drill rigs active on the project.
The P2V2 well, originally spudded (on a turnkey basis) in June this year but beset by drilling
delays, including loss of bottom hole assembly in-hole (announced 10 September 2020), has
now successfully set casing at the base of the Karoo sequence and is now running borehole
integrity tests, prior to re-entering the hole with directional drilling equipment. The forward plan
is to drill directionally to intersect the sub-vertical fracture systems, which are the conduits for
the gas (low pressure methane and helium) flows in nearby producing wells.
The MDR1 well, a legacy well approximately 300 metres from a known gas-productive fracture
and previously cased to the base of the Karoo sediments, has been re-entered with a
directional drilling unit, also on a turnkey basis. Whilst directional control from the base of Karoo
has so far proved to be slower to drill, encouraging gas shows are clearly evident in the drilling
mud. Subject to resolving the directional control in the well, it is planned to drill ahead to the
target fractures before evacuating the drilling mud and flow-testing the hole.
Planning is also advanced for an additional three well programme with a new drilling contractor,
with operations expected to commence in the next two weeks.
Renergen will accumulate all the data from the current drilling program and use this to inform
the Reserves update which will follow several weeks later from Sproule. Renergen will provide
updates to the market on material developments of the ongoing drill program in a timely
manner.
Johannesburg
27 November 2020
Authorised by: Stefano Marani
Chief Executive Officer
Designated Advisor
PSG Capital
To readers reviewing this announcement on the Stock Exchange News Service (SENS), this
announcement may contain graphics and/or images which can be found in the PDF version posted on
the Company’s website.
For South African investor inquiries, contact Renergen
info@renergen.co.za
+2710 045 6007
For South African media enquiries, contact OwnAlchemy
Michael Rubenstein
+2782 903 7797
michael@ownalchemy.com
For Australian Investors & Media, contact Citadel-MAGNUS
Cameron Gilenko
0466 984 953
About Renergen
Renergen is an emerging producer of helium and liquefied natural gas (LNG), with existing production and
sales of gas to buses in the Free State. Renergen was listed on Johannesburg’s AltX securities exchange in
June 2015 as South Africa’s first listed alternative and renewable energy company. Renergen listed on the
Australian Securities Exchange (ASX) on the 6th June 2019, with the code RLT. Renergen’s principal asset
is its 100% shareholding in Tetra4, which holds the first and only onshore petroleum production right in
South Africa, giving it a first-mover advantage on the distribution of domestic natural gas, along with the
potential to become one of the major global helium suppliers, making South Africa only the 8th country in
the world to export this extremely rare gas.
www.renergen.co.za
Date: 27-11-2020 08:30:00
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