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Renergen Completes Geological Surveys; New Gas Strike - Jabba

In Renergen's latest quarterly update, the company said that it has completed geological surveys showing potentially larger reservoirs than originally anticipated. It has also drilled a new well called Jabba, which is producing helium at 1.6% and the 5 wells drilled are showing no signs of interference. It selected Worley for the Owners Engineer role for its Phase II project. Renergen produced 729t of LNG in the last quarter up from 233t the previous quarter. It ended the quarter with ZAR56mm in cash. It achieved liquid helium production on 22nd January and is finalising the integration of the LNG and LHe modules to stabilise and commence combined production of both LNG and liquid helium.

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