Tlou Energy Ltd Operations Update (7230E)
October 22 2018 - 2:00AM
UK Regulatory
TIDMTLOU
RNS Number : 7230E
Tlou Energy Ltd
22 October 2018
22 October 2018
Tlou Energy Limited
("Tlou" or "the Company")
Operations Update
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, is
pleased to provide an update on field operations at its Lesedi CBM
project.
Key Points:
-- Commencement of drilling operations at the Lesedi CBM project;
-- Vertical well 'Lesedi 3P' is the first of the planned production drilling program;
-- Program aims to provide gas flow data in the area where the
initial project development is proposed.
Commencement of Drilling operations
Tlou Energy Limited has commenced drilling operations at the
Lesedi CBM Project ('Lesedi'), with the first well named 'Lesedi
3P' being spudded on Tuesday 16 October. The rig was set up,
conductor section of the well was drilled and casing set. This was
followed by laying out of the bottom hole assembly, running 18"
casing into the well and cementing it into place. The well is
planned to be drilled to a proposed total depth for Lesedi 3P of
580m.
Tlou will drill the Lesedi production wells as 'dual lateral
pods', comprising a single vertical production well intersected by
two lateral wells. This will be followed by production testing with
the potential to ultimately convert a significant portion of the
currently established gas Resources to Reserves and to deliver gas
to a proposed central processing facility and power station located
in close proximity.
The vertical wells along with the top-hole (vertical) sections
of the lateral wells are being drilled first. Thereafter, the
lateral (i.e. horizontal) sections of the wells will be drilled
using specialist directional drilling equipment.
Once drilled, the wells will then be completed using a separate
workover rig and surface facilities installed. Production start-up
is targeted to commence in early 2019. The wells will be on
production for an extended period of time to de-water and lower the
pressure in the coal seam to achieve gas flow.
In tandem with the operations program, Tlou will continue work
on the Environmental Impact Assessment for the power station and
proposed transmission lines which is required to connect the Lesedi
gas field to the power grid in Botswana.
In addition, the Company is working with the Botswana Energy
Regulation Authority (BERA) to acquire a power generation license
as well as furthering discussions in relation to offtake
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
UPDFELEDFFASEIS
(END) Dow Jones Newswires
October 22, 2018 02:00 ET (06:00 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