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Inclined Well Drilling Update and New Well Spud Date
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”)
INCLINED WELL DRILLING UPDATE AND NEW WELL SPUD DATE
Emerging domestic natural gas and helium producer Renergen is pleased to update shareholders
on the current inclined drilling programme. As previously announced, the first well in the
programme had to be abandoned due to the loss of equipment downhole. The re-drill, referred to
as P2V2, has now completed setting of the intermediate casing and is on track to drill through to
the base of the Karoo and the targeted gas-bearing fault structures. It is anticipated that this well
will be at or close to target by the end of the first week of November.
A further positive development is that a second drilling rig has been mobilised and is expected to
mobilise to site on the 26th of October and commence operations on the 30th of October. This
second rig has a directional capability and will re-enter an old, cased exploration hole close to a
known gas-bearing fault.
“We have made some really big strides in getting the drilling back on track. P2V2 is now past the
risky section of drilling and should start moving much faster. Adding to this is the re-entry of well
MDR1, which is already drilled and cased past the Karoo. This reduces time and cost significantly,
and being within close proximity to the gas-bearing faults means we not only have the opportunity
to bring additional flow online, but also to obtain important new geological data,” said CEO
Stefano Marani.
Johannesburg
21 October 2020
Authorised by: Stefano Marani
Chief Executive Officer
Designated Advisor
PSG Capital
For Australian Investors & Media, contact Citadel-MAGNUS
Cameron Gilenko, 0466 984 953
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: 21-10-2020 08:30:00
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