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Rengat Production Sharing Contract Updates

Publié le 29 janvier 2016

NuEnergy Capital Limited

ABN 50 009 126 238

ASX ANNOUNCEMENT

29 January 2016

Rengat Production Sharing Contract

Exploratory wells RE-03, RE-04 and RE-05 reached targeted depth
Exploration Period extended

NuEnergy Gas Limited (ASX:NGY) ("NGY" or "the Company") wish to update that the Rengat Production Sharing Contract ("PSC") drilling of the exploratory wells, RE-03, RE-04 and RE-05 has been successfully completed to the targeted depth.

Further Geological and Geophysical studies to complement existing data will be conducted to identify and map coal continuity across the basin and to understand the reservoir characteristics for further development.

In addition, the Indonesian regulatory authority, SKK Migas has granted a one-time extension of the Exploration Period to a maximum period of four years to 29 November 2019.

The Rengat PSC covers 2,395km2 of Central Sumatra basin and lies in-between prolific oil and gas concessions (located in the Central Sumatra basin within the vicinity of a major gas pipeline from Jakarta to the Chevron Duri Steam Flood project and related infrastructure). NGY has a 100% working interest in the Rengat PSC and is the operator of the PSC.

ABOUT NUENERGY GAS

NuEnergy is an emerging ASX listed gas and ancillary power generation development company with an immediate focus on establishing unconventional gas production in Indonesia.

NuEnergy has a strategy to acquire, explore, appraise and develop Coal Bed Methane ("CBM") acreage in this region. It is listed on the Australian Securities Exchange (ASX: NGY) with offices in Sydney (Australia) and Jakarta (Indonesia).

The Company's overall strategy is to explore and establish commercial resources/reserves over its CBM projects, construct production facilities and commence production as soon as possible.

The Company is led by a team of experienced executives with a track record of successfully identifying and developing projects around the world. This team is complemented by the skills of our Indonesian partners to maximise the value of the company's coal bed methane opportunities.