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Tlou Energy Limited

Results of AGM, Chairman's Address, Field visit

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RNS Number : 1953Q
Tlou Energy Ltd
17 October 2019
 

17 October 2019

 

Tlou Energy Limited

("Tlou" or "the Company")

 

Results of AGM, Chairman's Address, Field visit

 

 

Tlou Energy Limited, the ASX, AIM and BSE listed company focused on developing gas-to-power projects in southern Africa using coal bed methane ("CBM") natural gas from its gas field in Botswana, wishes to advise that, at the Annual General Meeting held earlier today, all resolutions were duly passed.

 

The Chairman's Statement, given by Tlou Chairman Martin McIver, is set out below.  

 

Chairman's address - AGM

It gives me great pleasure to deliver the Chairman's address at Tlou's sixth AGM as a listed entity. 

 

The past year has been an exciting one for Tlou, with the company hitting a number of significant milestones which will help us reach our future goal of being the first CBM project in Botswana to move into production.

 

Tlou's primary focus over the years has been on developing the Botswana Lesedi CBM initial pilot project including completing two new pilot production pods Lesedi 3 and 4.   These new gas production pods were drilled and completed earlier this year and are situated close to Tlou's proposed central processing facility to optimize future development activities.

 

The Lesedi gas production pods have now started producing sustained gas, with both pods and we are encouraged with the result to date.  In addition to the production testing, we have been working on the next steps in the Lesedi CBM project's development plan, including further exploration work in the Mamba project area, completing detailed design of the central processing facility and surveying of the transmission line route.  We remain committed to building shareholder wealth through progressing the Lesedi CBM project towards production while continuing to develop at low cost the Mamba and Boomslang Project areas.

 

Tlou is excited by the development of a CBM gas industry in Botswana.  The establishment of this industry will not only help the country manage the current energy shortage it faces but will also provide a new industry, and associated employment.  CBM will create an alternative and cleaner energy source for the country and its citizens.

 

Finally, and most importantly, I would like to take this opportunity to recognise the continuing support of our shareholders, without whom our project would not be possible.

 

Thank you,

Martin McIver

 

 

AGM Presentation

A presentation given by Tlou Managing Director, Anthony Gilby, is available on the Company's website http://tlouenergy.com/presentations

 

 

Botswana Information evening and field visit

The Company is hosting a dinner in Gaborone, Botswana later this month to provide an update to invited guests, including local shareholders, potential investors, financiers, local officials, media outlets and other stakeholders. 

 

In addition, a number of potential investors will visit Tlou's field operations including the field camp, the location of the central processing facility, along with the gas producing Lesedi 3 and 4 development wells.

 

 

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

 

****

 

For further information regarding this announcement please contact:

 

Tlou Energy Limited

+61 7 3012 9793

Tony Gilby, Managing Director


Solomon Rowland, General Manager




Grant Thornton (Nominated Adviser)

+44 (0)20 7383 5100

Samantha Harrison, Colin Aaronson, Harrison Clarke, Seamus Fricker




Shore Capital (Broker)

+44 (0) 207 408 4090

Jerry Keen, Toby Gibbs, Mark Percy




FlowComms Limited (Investor Relations)

+44 (0) 7891 677 441

Sasha Sethi




Vigo Communications (Financial PR)

+44 (0) 20 7390 0230

Patrick d'Ancona, Simon Woods


 

Company Information

Tlou Energy is focused on delivering Gas-to-Power solutions in Botswana and southern Africa to alleviate some of the chronic power shortage in the region.  Tlou is developing projects using coal bed methane (CBM) natural gas.  Botswana has a significant energy shortage and generally relies on imported power and diesel generation to fulfil its power requirements.  As 100% owner of the most advanced gas project in the country, the Lesedi CBM Project, Tlou Energy provides investors with access to a compelling opportunity using domestic gas to produce power and displace expensive diesel and imported electricity.

 

The Company is listed on the Australian Securities Exchange, London's AIM market and the Botswana Stock Exchange and is led by an experienced Board, management and advisory team including individuals with successful track records in the CBM industry.

 

Since establishment, the Company has significantly de-risked the project in consideration of its goal to become a significant gas-to-power producer.  The Company flared its first gas in 2014 and has a 100% interest over its Mining Licence and ten Prospecting Licences covering an area of ~9,300 Km2 in total.  The Lesedi and Mamba Projects already benefit from significant independently certified 2P gas Reserves of ~41 BCF.  In addition, 3P gas Reserves of ~427 BCF and Contingent Gas Resources of ~3,043 BCF provide significant additional potential.

 

The Company is planning an initial scalable gas-to-power project.  Following successful implementation of this first scalable project, the Company looks forward to evaluating longer-term prospects for the delivery of electricity generated from CBM in Botswana to neighbouring countries.

 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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