Renergen finds helium in its exploration wells

Renergen reported successful results on two exploration wells drilled on its Virginia Project in South Africa. The C3PO well struck an "exceptional" helium concentration of 1.7%, slightly above pre-drill expectations, according to Renergen. The company said the well is currently waterlogged so that standard electronic wireline logs can be run through, but even with the water load, C3PO has started producing over 30,000 standard cubic feet of gas per day with 1.7 per cent helium and 95 per cent methane. The nearby R2D2 well is showing promise, too, with Renergen reporting preliminary helium readings of between one per cent and 2.5 per cent.

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