Sign up
Oil Capital

Tlou Energy boss highlights “phenomenal year” as coal bed methane project advances

“It was a very busy year and the coming year is set to be another significant one for the company," said Tony Gilby.
oil and gas operations
“This has been a phenomenal year for the company."

Tlou Energy Limited (LON:TLOU) boss Tony Gilby has handed in his annual report card on what he called a “phenomenal year” for the company.

In the coal-bed-methane group’s financial results, for the twelve months ended June 30, Gilby told investors: ““We set a number of key targets which were achieved including being the first company in Botswana to book CBM natural gas reserves, receiving environmental approval for our field development and converting a large part of our project area from a prospecting or exploration licence to a mining licence for a term of 25 years.

READ: Tlou Energy gives licence details for Botswana coal bed methane project

“It was a very busy year and the coming year is set to be another significant one for the company.  I look forward to updating you further as the year progresses."

Among the highlight achievements Tlou said it delivered independently-certified CBM Gas reserves, secured approval for its Environmental Impact Statement and received a Mining License for an area spanning 900 square kilometres.

In terms of financials, the pre-revenue small cap firm reported a loss of US$1.95mln and it ended the year with US$6.7mln of cash and equivalents.

WATCH: New mining licence in Botswana de-risks Tlou Energy's CBM project

Why Invest In Tlou Energy Ltd? Read More Here

Register here to be notified of future TLOU Company articles
View full TLOU profile View Profile

Tlou Energy outlines targets for 2018


Tlou Energy updates on Botswana progress

View All

Related Articles

© oil Capital 2018

Oil Capital, a subsidiary of Proactive Investors, acts as the vanguard for listed oil companies to interact with institutional and highly capitalised investors.
Headquartered in London, Oil Capital is led by a team of Europe's leading analysts and journalists, publishing daily content, covering all key movements in the Technology market.