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Gas Strike at MDR1 to Supplement Production Capacity
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”)
GAS STRIKE AT MDR1 TO SUPPLEMENT PRODUCTION CAPACITY
Domestic natural gas and helium producer Renergen is pleased to announce a significant gas
strike in well MDR1, 300 meters north of a current producing well MDR5.
This well, which was originally an abandoned hole drilled several years ago, has been re-drilled
and re-directed using horizontal drilling techniques to intersect the anticipated gas-bearing
fracture, with a view to providing additional gas deliverability for the Phase 1 development under
construction. The drillers experienced several challenges drilling using this previously untested
technique, with consequent delays in reaching the target zone, but whilst pulling out rods after
intersecting a large fault the well began producing gas at an estimated 86,000 standard cubic
feet per day.
“MDR1 is another important well for us for two reasons. The most obvious reason is that it is less
than 600 meters from the new plant, so it will tie in quickly and easily. The second reason this is
important is that we now have an accumulating body of evidence to suggest that we can
significantly reduce spacing between wells without influencing individual well production, which
in turn means a higher well density in the prevailing production scenario. What really surprised
me was that we hadn’t expected this well to produce for a few more weeks, as the lost circulation
material injected in the well generally takes several weeks to cure and open the fractures, so this
well may just even produce more in time which would be an unexpected bonus. That said, with
this flow rate, we are ecstatic,” said Stefano Marani, CEO.
Johannesburg
11 March 2021
Authorised by: Stefano Marani
Chief Executive Officer
Designated Advisor
PSG Capital
For South African investor inquiries, contact Renergen
info@renergen.co.za
+2710 045 6007
For Australian Investors & Media, contact Citadel-MAGNUS
Cameron Gilenko 0466 984 953
www.renergen.co.za
Date: 11-03-2021 10:52:00
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