Tlou Energy makes solid operational progress in Botswana

Botswana and southern Africa-focussed coalbed methane developer and power company Tlou Energy provided an operational report on its Lesedi Project in Botswana for the quarter to 31 March on Friday.

The AIM and ASX-traded firm said it received a detailed request for proposal from the Government of Botswana to develop up to 100MW of coalbed methane (CBM) power in the country during the period.

It also achieved a “significant increase” in gas reserves, including a 44% increase in proved and probable gas Reserves to 3.9 billion cubic feet, and a 390% increase in proved, probable and possible gas reserves to 261 billion cubic feet.

The board said the increases comprised additional certified reserves in the Lesedi Project area, and initial certified reserves in the Mamba Project area.

A project development partner was also announced during the quarter, with the company’s 100MW project plan being progressed and gas to be supplied from Tlou's 100% owned Lesedi Project Area.

“Tlou [is[ fully funded to undertake additional field appraisal to expand independent gas reserves, complete [the] feasibility study and to finalise licencing requirements prior to development of the Lesedi CBM Project,” the company’s board explained in its statement.