Sign up Australia
Proactive Investors - Run By Investors For Investors

Tlou Energy set to re-tender for Botswana

The government has requested the re-tender for the proposed development of up to 100MW of CBM fuelled power plants
oil and gas operations
The deadline is September 12

Tlou Energy Ltd (LON:TLOU) has told investors that it is one of two companies that have been invited to re-tender for a coal-bed-methane fueled power projects in Botswana.

A meeting is now due to take place with the Botswana government on 9 August, ahead of a submission deadline of September 12.

In Friday’s early deals, Tlou shares rose 6.86% changing hands at 6.2p.

READ: Tlou Energy continues efforts to advance gas-to-power assets

The government has requested the re-tender for the proposed development of up to 100MW of CBM fuelled power plants, following on from a prior process which was shelved.

Tlou highlighted that its proposal 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.

Moreover, the company described its asset as ‘the most advanced CBM project in Botswana’ and highlighted the project’s qualities – namely gas reserves, environmental approval for upstream development, and licensing.

In a stock market statement, it said: “the company is very pleased to receive the re-tender document and will now undertake a compressive review of the terms therein.”

Craig Howie, analyst at Shore Capital, in a note this morning added: “We are now very encouraged to see the formal re-tender process moving ahead and believe that Tlou is superbly positioned in this regard, given the advanced nature of its flagship Lesedi CBM project in Botswana.

He added: “Our fair value estimate stands at approximately 25p/share and, with the formal government re-tender process now underway, we continue to see excellent scope for Tlou to become a leading Southern African-focused independent power producer.”

View full TLOU profile View Profile

Tlou Energy Ltd Timeline

Newswire
February 22 2018

Related Articles

The project site in Greenland
March 22 2018
Kvanefjeld is forecast to be the largest producer of key rare earth elements for electric vehicles.
oil well
February 14 2018
At Welch, work in recent months has focused on workovers and production optimisation.
Hurricane
May 17 2018
Value creation may now be a slower burn, compared to high-impact drilling successes of recent years, nonetheless, the delivery of the Lancaster field’s early production system will be a major catalyst for the UK oiler that’s now worth close to £1bn

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use