Tlou Energy Ltd Change to RFP submission date (0257A)
September 06 2018 - 8:56AM
UK Regulatory
TIDMTLOU
RNS Number : 0257A
Tlou Energy Ltd
06 September 2018
6 September 2018
Tlou Energy Limited
("Tlou" or "the Company")
Change to 100 MW Tender closing date
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, has
received confirmation that the closing date for receipt of
proposals under the 100 MW Tender (outlined further below) has been
extended to Wednesday, 10 October 2018.
The original closing date was 12 September 2018. The extension
was not at Tlou's request, as the Company is on track to submit a
comprehensive proposal. Based on the original date the Company
would have expected an initial response to its proposal in Q1 2019.
Regardless of the extension, the Company still expects an initial
response to be received in early 2019.
100 MW Tender
Earlier this year, Botswana's Ministry of Mineral Resources
Green Technology and Energy Security ('the Ministry') issued a
Request for Proposal ('RFP') for Development of up to 100 MW of CBM
fuelled power plants in Botswana. This RFP was issued to two
parties, Tlou and a local Botswana based company, Sekaname (Pty)
Ltd.
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 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.
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
----------------------
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
----------------------
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 expensive 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 power.
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,
holds a Mining Licence and nine Prospecting Licences, covering an
area of 8,300Km(2) in total, and the Lesedi Project already
benefits from significant independently certified Contingent Gas
Resources of 3.2 trillion cubic feet (3C) and independently
certified Gas Reserves of 261 billion cubic feet (3P).
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 rns@lseg.com or visit www.rns.com.
END
MSCLLFEFASIRIIT
(END) Dow Jones Newswires
September 06, 2018 08:56 ET (12:56 GMT)
Tlou Energy (LSE:TLOU)
Historical Stock Chart
From Mar 2024 to Apr 2024
Tlou Energy (LSE:TLOU)
Historical Stock Chart
From Apr 2023 to Apr 2024