Ann: Trading Halt, page-81

As REL announced previously, the Tulainyo 2-7 well was drilled to the planned total depth of 5,710 feet (1,740 metres). This represented a significant engineering achievement by the Tulainyo joint venture due to the challenging over–pressured geological conditions within the very large anticlinal structure.

Post-well analysis indicates multiple stacked sandstone units, varying as expected in thickness and quality, that are all gas saturated.

A two-stage test program will now be carried out, with perforations into the selected reservoir intervals using Tubing Conveyed Perforating Equipment or TCPs. Testing will commence across a zone lower in the well with perforations across at least three separate sands with varying, interpreted reservoir quality. Once sufficient data has been captured from the first test, a removable bridge plug will be set to isolate the lower test zone, and a second test will be conducted over a shallower, thicker sand package.

Overall, the program is expected to take around one month to complete. REL will release further information to the market once test results are clarified.