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Tlou Energy Limited

Tlou Energy’s Lesedi drill programme ‘making excellent progress and on budget’

Drilling of the first two vertical wells, Lesedi 3P and Lesedi 4P, has been completed, while work on the third vertical well, Lesedi 5P, isn’t too far behind

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Importantly, the drill programme is on budget, Tlou said

Tlou Energy Ltd (LON:TLOU) is making “excellent progress” with the ongoing drill programme at its Lesedi coal bed methane project in Botswana.

The AIM-listed company is currently drilling three ‘dual lateral pods’, comprising a single vertical production well which is intersected by two lateral (or horizontal) wells.

The second vertical well, called Lesedi 4P, has been drilled to a total depth of 577 metres having encountered a “very good target coal horizon”.

READ: Tlou starts busy drill programme at Lesedi

Meanwhile, top-hole drilling has been completed at Lesedi 5P – the third vertical well. Top-hole drilling at Lesedi 3A, the first lateral well in the programme, is ongoing.

Drilling will continue over the coming weeks and into early 2019. The plan is that once all six wells for pods one and two have been drilled, Tlou will complete them using a separate workover rig and surface production facilities will be installed.

The wells will then begin production testing to de-water and lower the pressure in the coal seam to achieve gas flow. Results from these tests will determine whether the third pod, Lesedi 5, will be completed.

Tlou also included a brief update on its tender to the Botswanan authorities for the proposed coal bed methane gas-to-power project.

The response was submitted last month, and the company said it is still awaiting feedback.

Quick facts: Tlou Energy Limited

Price: 4.45 GBX

Market: AIM
Market Cap: £20.03 m
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