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RENERGEN LIMITED - Renergen Secures First and Only Petroleum Production Right in South Africa

Release Date: 23/10/2017 10:00
Code(s): REN     PDF:  
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Renergen Secures First and Only Petroleum Production Right in South Africa

RENERGEN LIMITED
Incorporated in the Republic of South Africa
(Registration number: 2014/195093/06)
Share code: REN ISIN: ZAE000202610
(“Renergen” or “the Company”)

RENERGEN SECURES FIRST AND ONLY PETROLEUM PRODUCTION RIGHT
IN SOUTH AFRICA

Renergen Limited, an integrated alternative and renewable energy
business listed on the JSE, announced that it has received a
positive environmental authorisation or record of decision
(“RoD”) on Tetra4’s Environmental Impact Assessment (“EIA”) by
the Petroleum Agency of South Africa (“PASA”) on 29 September
2017, a process which has taken over two years and involved
multiple rounds of public participation.

Tetra4 has also announced that it will become the first company
to produce Liquefied Natural Gas (“LNG”) in the country and among
the first to sell LNG locally, resulting in significant financial
savings to the end-user. Gas in liquid form overcomes the
challenges of size and weight of vessels to hold the gas as well
as the high pressures associated with the gas.

Stefano Marani, CEO of Renergen said, “The EIA approval is
ground-breaking for Renergen. We now enjoy the status of not only
having the first onshore petroleum production right in the
country, but the only one with an environmental authorisation to
commence full scale production.

“We are very excited about going into production and unlocking
value for shareholders earlier than anticipated. As a result of
significant engineering, Tetra4 will now commence construction of
natural gas liquefiers early in 2018 with production of Liquefied
Natural Gas (LNG) to commence early in 2019.”

South Africa has seen calls for less dependence on coal as a
source of energy over the years. Lower use of coal will reduce
greenhouse gas emissions and less demand will lessen
environmental risk in various industries across the country. By
pursuing the production of LNG, Renergen has taken the first step
in the development of energy in South Africa.

When producing LNG, the liquefaction of gas allows for
condensation of the energy around 625 times its natural state.
This form of gas increases the energy density to levels
comparable to diesel, implying Tetra4 can now deliver its gas
nationally. This ground-breaking initiative will see trucks and
buses using LNG, supplied by Tetra4, travel up to 2 000
kilometres compared to the current 500 kilometres, which are now
powered by compressed natural gas (CNG).

 “Tetra4 is a unique asset with great potential and offers unique
opportunities going forward. The asset provides us with first
mover advantage and the ability to shape the natural gas
landscape in the country,” Marani concluded.

Johannesburg
23 October 2017

Designated Advisor
PSG Capital

Enquiries:

Renergen Limited

investorrelations@renergen.co.za            010 045 6000
Instinctif Partners                         011 447 3030
Lizelle du Toit                             082 465 1244
Keagile Makgoba                             082 325 9063

Website:

Renergen www.renergen.co.za
Tetra4 www.tetra4.com

About Renergen

Renergen is an integrated alternative and renewable energy
business that invests in early stage energy projects across
Africa and emerging markets. Through our investment in Tetra4, we
will be the first onshore company with a petroleum production
right in South Africa and the only one with an e Our current
investments include Tetra4, a natural gas and liquefied Helium
company in the Free State, South Africa.

Leadership & Management team

Stefano Marani - Chief Executive Officer
Nick Mitchell - Chief Operating Officer
Fulufhedzani (Fulu) Ravele - Chief Financial Officer

Non-Executive Directors

Brett Kimber - Independent non-executive chairman
Mbali Swana - Independent non-executive deputy chairman, member
of the audit and risk committee
Luigi Matteucci - Independent non-executive director, member of
the audit committee
Dr. Bane Maleke - Independent non-executive director
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