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Tlou Energy: Closing date extended for CBM power proposal

Tlou noted that it did not request the extensions and said that it was on track to submit a comprehensive proposal
oil and gas operations
The new deadline is October 10

Tlou Energy Ltd (LON:TLOU) told investors that the closing date has been extended for proposals in the process for the coal-bed-methane fuelled power project in Botswana.

A new deadline of October 10 has been set, extending from September 2018.

READ: Tlou Energy reports on “very productive year”

In a statement, Tlou noted that it did not request the extensions and said that it was on track to submit a comprehensive proposal.

It clarified that, on the prior timeline, it would have expected an initial response to its proposal during the first quarter of 2019, and, regardless of the extension, it still anticipates an initial response in early 2019.

“Being the most advanced CBM project in Botswana, with significant gas reserves in place, having environmental approval for upstream development and a mining licence secured allowing the company to commence development operations, the company is in an excellent position to submit a comprehensive proposal with a project that is achievable and can bring vital power and employment to the region,” Tlou said in a statement.

The company added: “Tlou plans to submit a response to the RFP outlining an initial staged development commencing with up to 10 MW of generation including project feasibility, field development plans, installation of power generation facilities and supply of power into the grid. 

“If successful in the RFP and following successful installation of the initial 10 MW, the Company would investigate further expansion (up to 100 MW and above) subject to demand and suitable power purchase agreements.”

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