Tlou Energy Ltd Public Procurement & Asset Disposal Board Decision (0450Z)
May 15 2019 - 2:01AM
UK Regulatory
TIDMTLOU
RNS Number : 0450Z
Tlou Energy Ltd
15 May 2019
15 May 2019
Tlou Energy Limited
("Tlou" or "the Company")
Public Procurement and Asset Disposal Board Decision
Tlou Energy Limited wishes to announce the decision below made
by the Public Procurement and Asset Disposal Board ("PPADB") and
published in the Botswana Daily Newspaper dated 14 May 2019.
Board Decision
MINISTRY OF MINERAL RESORCES, GREEN TECHNOLOGY AND ENERGY
SECURITY
Tender No: PPADB 0/7/11/3-1
Title: The Ministry of Minerals Resources, Green Technology and
Energy Security's request to engage in negotiations with the
following bidders in respect of a tender for Development of a
Maximum of 100 mw Coal Bed Methane Fueled Pilot Power Plants in
Botswana:
1. Tlou Energy Limited, and
2. Sekaname (Pty) Ltd.
Decision: Approved.
Submission Date: 07.05.2019
The Company will liaise with the Ministry of Minerals Resources,
Green Technology and Energy Security and the PPADB to obtain
further clarity on the above and will update the market once
official confirmation has been received.
Request for Proposal (RFP)
On 10 October 2018 the Company submitted its comprehensive
response to the RFP for the Development of a Maximum of 100 MW of
Coal Bed Methane Fuelled Power Plants in Botswana.
The submission outlined a staged development commencing with up
to 10MW of generation as well as outlining project feasibility,
proposed field development, installation of power generation
facilities and supply of power into the grid in Botswana. Upon
successful completion of the initial project, the Company would
look to expand.
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
----------------------
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 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 and
has a 100% interest over its Mining Licence and ten Prospecting
Licences covering an area of 9,300 Km(2) 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 rns@lseg.com or visit www.rns.com.
END
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