logo-loader
Tlou Energy Limited

Tlou Energy awarded more CBM acreage in Botswana

The Boomslang licence covers 1,000sq km and takes the company’s total acreage in the area to 9,300 sq km

Gas pipes
Tlou has significant acreage in Botswana

Tlou Energy Limited (LON:TLOU) has picked up a new prospecting licence in Botswana in the same trend as its existing Lesedi coal bed methane project.

The Boomslang licence covers 1,000sq km and takes the company’s total acreage in the area to 9,300 sq km and runs for an initial term of 3 years. 

WATCH: Q2 'the one to watch' for Tlou Energy as it approaches key milestones

Tlou recently completed two development pods – each containing three wells - at the flagship Lesedi project, involving de-watering prior to controlled gas flows.

'House' broker SP Angel says Boomslang is a highly complementary addition to Tlou’s asset base in Botswana, which brings further critical mass to the portfolio.

The broker’s fair value estimate for Tlou is approximately 25p/share underpinned by an active work programme underway and progress made with initial development operations at Lesedi.

In afternoon trading, shares in Tlou were 1.7% higher at 5.85p.

-- Adds shares price --

 

 

Quick facts: Tlou Energy Limited

Price: £0.05

Market: AIM
Market Cap: £21.27 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Tlou Energy Limited named herein, including the promotion by the Company of Tlou Energy Limited in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: Further gas flow rate upgrades expected from Tlou Energy

Tlou Energy Limited (LON:TLOU) CEO Tony Gilbey is excited about the year ahead and answers investor queries via Proactive London . Speaking from Brisbane Australia, Gilbey tells Polly Middlehurst when commercial gas flow rates can be expected on their CBM projects in Botswana and what a...

3 weeks ago

2 min read