18 August 2015
By Nicola Mawson
Johannesburg – AltX-listed Renergen has secured the first and only local onshore petroleum right, by paying R650 million to buy of Molopo South Africa Exploration and Production.
Molopo secured the production right, over 187 000 hectares of land in the Free State, in 2012. Now Renergen has bought this asset through its acquisition of Molopo, just three months after it listed. The asset has proven reserves worth R2.2 billion.
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