Tlou Energy advances Lesedi project

Tlou Energy said drilling at its Lesedi coal bed methane project in Botswana was advancing as expected.

Tlou drilled its first vertical well to a total depth of 575 metres on 16 October and has since turned its focus towards its second well in the current programme.

The AIM-listed outfit hopes to unlock gas flow data ahead of its proposed initial project development area, where management anticipate production start-up for the wells could come in the first quarter of 2019.

“The wells will be on production for an extended period of time to de-water and lower the pressure in the coal seam to achieve gas flow,” Tlou said.

As of 0910 GMT, Tlou shares had picked up 0.18% to 5.51p.