Tlou Energy appoints Velseis for Lesedi project, Mamba permit seismic survey

AIM-listed Tlou Energy has appointed Velseis Pty Ltd to undertake a fully funded seismic survey for its Lesedi Coal Bed Methane (CBM) Project and the adjacent Mamba Permit.

It said the 250km 2D seismic programme was targeted to start in third-quarter 2017. Tlou is focused on delivering power in Botswana and southern Africa through the development of CBM.

"This survey will give us the opportunity to expand our Gas Reserves and Resources as we progress towards developing the first CBM gas to power project in Botswana," the company said.

"The seismic survey will assist in the next step of our plan to drill more wells by providing us with enhanced knowledge of the sub-surface in our project areas."

Tlou said that results from subsequent core well analysis might6 also lead to further Gas Reserve and Resources and consequently add further value to the company.

At 13:29 BST, shares in Tlou Energy were flat at 6.62p each.