BRIEF-Renergen Says Drilling Of Horizontal Well Has Progressed Through Karoo Supergroup

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BRIEF-Renergen Says Drilling Of Horizontal Well Has Progressed Through Karoo Supergroup
Credit: © Reuters.

Dec 17 (Reuters) - RENERGEN Ltd RENJ.J :

* JSE: REN - WITHDRAWAL OF CAUTIONARY: GAS STRIKE WITH 12% HELIUM

* RENERGEN LTD - DRILLING OF HORIZONTAL WELL HAS PROGRESSED THROUGH KAROO SUPERGROUP

* RENERGEN LTD - SUCCESSFULLY INTERSECTED GAS CHARGED SANDSTONES AND FRACTURES AS WAS PREDICTED IN PRE-DRILL PROGNOSIS

* RENERGEN - TEAM ON SITE FLARING GAS FOR INITIAL FLOW TESTING, WHICH REACHED FLOW RATE OF 850,000 STANDARD CUBIC FEET/DAY WITH VALVES PARTIALLY CLOSED

* RENERGEN LTD - ON CURRENT PLANS, WELL WILL BE DRILLED A FURTHER 1,200M HORIZONTALLY IN JANUARY

* RENERGEN LTD - CEO SAYS THIS SANDSTONE PLAY HAS NOT BEEN FACTORED INTO ANY PREVIOUS REPORTS, SO THIS IS A NEW DISCOVERY FOR CO

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