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.
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.