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Tlou Energy reports on “very productive year”

"This has been a very productive year for the company, with key targets achieved that have further de-risked the [email protected]
oil and gas operations
It ended the year with just over US$7mln in cash

Tlou Energy Limited (LON:TLOU) managing director Tony Gilby, in today’s final results statement, described “a very productive year” for the company.

Among the company’s highlighted achievements was the ‘significant upgrade of independently certified gas reserves’ for the Lesedi and Mamba areas, the listing onto the Botswana Stock Exchange and the securing of a mining licence.

READ: Tlou Energy says drilling could start at Lesedi in September

Gilby said: "This has been a very productive year for the company, with key targets achieved that have further de-risked the project, including a significant increase in certified gas reserves. 

“We look forward to building on our success to date to deliver a project that can bring vital energy security and employment to Botswana and has the potential to provide an excellent return for our supportive shareholders."

In terms of financials, Tlou reported a US$2.81mln loss for the year, which it said was in line with expectations, and it ended the year with US$7.01mln in cash and equivalents.

View full TLOU profile View Profile

Tlou Energy Ltd Timeline

September 18 2018

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