Tlou Energy reports substantial increase in Botswana gas reserve

Tlou Energy has announced a significant upgrade of reserves in the Lesedi project and initial reserves of the Mamba Project in Botswana.

This latest reserves assessment has been certified by Dr Bruce McConachie of SRK Consulting (Australasia).

Tlou managing director Tony Gilby said: “This significant upgrade in Reserves reinforces the commerciality of the Lesedi Gas Project. The success of the Selemo pilot in producing sustained gas flows for a substantial period suggests that there is significant gas production potential for the area.

“Our ongoing work to assess this continues in tandem with our planning for the staged delivery of a commercial CBM power facility, for which we have received a detailed request for proposal from the Government of Botswana.

“We are very pleased to have received the first gas reserves in the Mamba Project area, which demonstrates the upside available within our portfolio.

“Together, we believe that the Lesedi and Mamba projects will continue to develop into a valuable resource for Tlou shareholders as we work towards increasing the certified gas reserves in both areas.”

According to the latest report, there has been a 44% increase in the 2P (proved and probable) gas reserves to 3.9 billion cubic feet (BCF). The report also stated a 390% improvement in the 3P (proved, probable and possible) gas reserves, which increased to 261 BCF.

The report includes additional certified reserves in the Lesedi Project area (PL 002) based on a southern extension of the Selemo pilot area, as well as initial certified reserves in the Mamba Project area (PL’s 238 and 240) based on a western extension of the Selemo pilot area.

AIM and ASX listed company Tlou Energy focuses on delivering power in Botswana by developing coal bed methane (CBM) projects.

The company owns full interest in the Lesedi CBM Project that is used to produce gas to support the power industry in the country, which completely depends on importing fuels.

It holds ten prospecting licences that have an area of approximately 8,300km².

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Image: Locations of Lesedi and Mamba projects. Photo: courtesy of Tlou Energy.