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Update on R2D2 Drilling: Gas Odour Detected
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”)
UPDATE ON R2D2 DRILLING: GAS ODOUR DETECTED
Natural gas and helium producer Renergen is pleased to update shareholders on the current
inclined drilling programme.
As explained in the last quarterly update released on 31 March 2021, the Company was due to
commence the drilling of well R2D2, reaching the first (pre-fracture system) target at the base of
the Karoo formation around the end of the first week of May. We are pleased to advise that the
drilling has progressed as anticipated, and the well has been drilled to the base of the Karoo
formation, interpreted to be proximal to the target gas-bearing fracture system. Logging
operations are underway in preparation for casing the well and applying for the requisite
approvals to continue drilling in the WITS formation. Given this casing, logging and approval
process is expected to take several weeks to complete, and the Company has elected to relocate
the drilling rig to a new site, C3PO, where it will also drill to base Karoo pending the approvals to
drill to final depth at the well R2D2.
We further advise shareholders that encouragingly, gaseous odours were detected in the deeper
section of R2D2, consistent with the experience of the drilling of the successful well MDR1.
“We are through the most challenging part of the drilling on R2D2, with more precision than in
our previous wells, so the learnings have not been in vain, and we expect our ability to hit targets
will only improve as we go forward. While we are waiting on getting the casing set and completing
the lengthy approval process to deepen the well, we have taken the opportunity to drill through
the Karoo on the new site C3PO, which should deliver significant time savings on the overall
drilling campaign.
The presence of the odour, however, is really good news, especially given the well is interpreted
to be so close to the target fractures in the WITS, and we are drilling in the same type of geology
as at the successful MDR1well,” said Stefano Marani.
Johannesburg
10 May 2021
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: 10-05-2021 08:30:00
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