Emerging domestic natural gas and helium producer Renergen (ASX:RLT) is pleased to provide the following update on its current horizontal drilling operations targeting the previously announced
90 sq km sandstone unit within the Company‘s Production Right area.
Background
The horizontal well has been designed to evaluate the extent and composition of any gas in this sandstone unit, where a previous vertical well encountered overpressured natural gas with a very high (11%) concentration of helium. A successful horizontal well, establishing material extent and sustainable commercial gas flow rates for this target reservoir, would underpin a significant expansion (“Phase II”) of the Virginia Gas Project currently being developed.
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