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Inclined Well Drilling Update
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
Emerging domestic natural gas and helium producer Renergen is pleased to update shareholders
on the upcoming programme of inclined wells targeting the gas productive fracture systems in
the Virginia Gas Project production hub.
The Company announced on 13 May 2020 that Bohrmeister Technik Proprietary Limited
(“Bohrmeister”) had been awarded the drilling contract, and that mobilisation would take place
within 6 weeks. As of 2 July, Bohrmeister was given access to the drill site, with the collar location
and drilling parameters (azimuth and inclination) of the first drilling site having been finalised,
based on the fracture distribution as interpreted from the extensive geological database available
to the Company from the long history of exploration (mostly for precious metals) in the area. The
preparation of the drill pad, delivery of equipment, and the applications to secure all regulatory
approvals, are all progressing, albeit more slowly than would be the case were it not for
restrictions related to the COVID-19 pandemic. On current projections the first well is expected
to spud late in July and reach the primary target at the base of the Karoo sequence / top Wits
formation late in August.
As this is the Company’s first inclined well in the Virginia Gas Project, the Company is taking all
steps to maximise the probability of success. As has been previously explained, the faults and
fissures in the target area are mostly sub-vertical, and drilling inclined wells will maximise the
probability of intersecting these faults and fissures as targeted at or below the base of Karoo / top
Wits interface; the drilling challenge is to maintain the wellbore inclination to achieve this outcome.
“Currently we are more focused on a successful well over a fast well. If we get the first well right,
we expect to have an easy to read roadmap for future drilling at Virginia and can get to work on
quickly ramping up towards production. As management we are confident of the methane and
helium, but utilising the available technology to access it in the most cost-effective manner
possible is our key motivation at present,” said Stefano Marani, CEO.
Periodic updates will be released as the drilling programme progresses.
Johannesburg
09 July 2020
Authorised by: Stefano Marani
Chief Executive Officer
Designated Advisor
PSG Capital
For Australian Investors & Media, contact Citadel-MAGNUS
Cameron Gilenko, 0466 984 953
For South African media enquiries, contact OwnAlchemy
Michael Rubenstein, +2782 903 7797
michael@ownalchemy.com
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.
To readers reviewing this announcement, who wish to find out more about LNG, click here
https://youtu.be/0Fr0UcLdDxsto
To find out more about helium, click here https://youtu.be/gR0YfSumm8M
www.renergen.co.za
Date: 09-07-2020 08:30:00
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