- Renergen has posted a drilling update to the market today suggesting it has uncovered gaseous odour at its Virginia Gas Project in South Africa
- The Virginia Gas Project covers an area of 187,000 hectares of gas fields across Welkom and Theunissen in the country
- Then hole P2V2 aims to drill through the base of Karoo sedimentary rock and into the gas-bearing fault structures
- Previous work at MDR1 determined it to be 200 meters away from a gas bearing structure but upon recent re-entry, a gaseous odour found
- This new work expected to begin in the next three to four days once logging is complete
- Renergen is down 7.26 percent on the market with shares trading for $1.15 each
Renergen: Confirms unexpected find in South Africa
