Renergen General Discussion, page-1393

https://energycapitalpower.com/south-africa-gas-upstream-business-renergen/

What is the status of Phase 2 of the Virginia Gas Project?

When can we expect financial close and the start of construction?

We are well underway with the credit committees, the U.S. International Development Finance Corporation and the secondary lender. We are anticipating, over the course of the next few months, that we will get through the various stages of committees, following which we will go Final Investment Decision. Thereafter, we will need to wait for the US Securities and Exchange Commission and the Johannesburg Stock Exchange to come up with a timetable for the potential listing of Nasdaq.Shortly after the IPO we will commence construction. It will be an early campaign of very intensive drilling once we finalize the design work, which is about 95% complete. From there, we anticipate to physically break ground in the fourth quarter, with production initiating in 2026.