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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

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