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Update on Drilling Operations, Virginia Gas Project
RENERGEN LIMITED
Incorporated in the Republic of South Africa
(Registration number: 2014/195093/06)
JSE Share code: REN
A2X Share code: REN
ISIN: ZAE000202610
Australian Business Number (ABN): 93 998 352 675
ASX Share code: RLT
(“Renergen” or “the Company”)
UPDATE ON DRILLING OPERATIONS, VIRGINIA GAS PROJECT
Emerging domestic natural gas and helium producer Renergen is pleased to provide the
following update on drilling operations at its 100% owned Virginia Gas Project.
As advised in releases to market on 16 December and 20 December 2019, horizontal well
NAEO2HT4 intersected gas charged sandstone in the inclined section of the well on 9 December
2019. The following day, after drilling ahead through the interpreted sandstone section and into
the underlying formation, and intersecting a number of fractures, the well flowed gas to surface at
a rate over 850,000 standard cubic feet per day, with a subsequently estimated helium
concentration of 12% (the balance of the gas being predominantly methane).
Drilling operations were suspended over the holiday period, save for occasional flaring and
monitoring, which confirmed no reduction in the gas pressure in the well.
In view of the highly encouraging gas intersections in the well, it was decided to run electric logs
in the well prior the determining the drilling (and testing) programme going forward. After
mobilizing a comprehensive suite of logging equipment to site, logging operations commenced
on 17 January 2020. The results and interpretation of the log data is expected within the coming
weeks, after which the forward programme to best evaluate this exciting helium play will be
advised to market and commenced.
The Company also advises that the first planned inclined well in the Phase 1 development and
appraisal programme is expected to spud ahead of schedule in the first week of February.
Johannesburg
21 January 2020
Designated Advisor
PSG Capital
For Australian Investors & Media, contact Citadel-MAGNUS
Cameron Gilenko, 0466 984 953
Tom Kohlen, 0419 95 526
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.
www.renergen.co.za
Date: 21-01-2020 09:00:00
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