REG - Tlou Energy Ltd - First Gas Flow from Lesedi 6 Production Pod

TLOU EnergyAnnouncement

27/11/2023 07:00

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RNS Number : 6711U  Tlou Energy Ltd  27 November 2023

 

27 November 2023

 

Tlou Energy Limited

("Tlou" or "the Company")

 

First Gas Flow from Lesedi 6 Production Pod

 

 

Highlights

 

Ø First gas to surface from the recently drilled and completed Lesedi 6 pod

Ø This is the fastest time between starting dewatering and first gas in
Lesedi to date

Ø Lesedi 4 pod is dewatering in line with expectations

 

Gas flowing at Lesedi

Gas has started to flow at the Lesedi 6 Production Pod and has been flared.

 

This follows the drilling of the new Lesedi 6 production pod and the redrill
of the lateral sections of the Lesedi 4 production pod. Post drilling
operations each pod was flushed to clear the wells. Production equipment was
then installed and dewatering commenced in late October 2023.

 

In recent days Lesedi 6 experienced a rapid increase in casing pressure in
both lateral wells with first gas production to surface occurring soon
thereafter.

 

The rapid build-up of casing pressure and comparatively short time taken from
commencement of dewatering to first gas to surface is very encouraging. It
represents the fastest gas to surface in the Lesedi field to date.

 

 

The next step is to allow the gas flow rate to develop and obtain an initial
sustained flow rate. The Company will continue production testing at both
Lesedi 4 and Lesedi 6 and update the market in due course.

 

A short video of the gas flare is available on the following link:
https://youtube.com/shorts/jzOjrA-xCrE
(https://youtube.com/shorts/jzOjrA-xCrE)

 

****

 

 

The above schematic provides a visual representation of how Tlou's production
pods have been drilled. This is indicative only and not to scale.

 

 

The information contained within this announcement is deemed to constitute
inside information as stipulated under the retained EU law version of the
Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK
law by virtue of the European Union (withdrawal) Act 2018. The information is
disclosed in accordance with the Company's obligations under Article 17 of the
UK MAR. Upon the publication of this announcement, this inside information is
now considered to be in the public domain.

 

By Authority of the Board of Directors

Mr. Anthony Gilby

Managing Director

 

****

 

For further information regarding this announcement please contact:

 Tlou Energy Limited                              +61 7 3040 9084
 Tony Gilby, Managing Director
 Solomon Rowland, General Manager

 Grant Thornton (Nominated Adviser)               +44 (0)20 7383 5100
 Harrison Clarke, Colin Aaronson, Ciara Donnelly

 Zeus Capital (UK Broker)                         +44 (0)20 3829 5000
 Simon Johnson

 Investor Relations
 Ashley Seller (Australia)                        +61 418 556 875
 FlowComms Ltd - Sasha Sethi (UK)                 +44 (0) 7891 677 441

 

About Tlou

Tlou is developing energy solutions in Sub-Saharan Africa through gas-fired
power and ancillary projects. The Company is listed on the ASX (Australia),
AIM (UK) and the BSE (Botswana). The Lesedi Gas-to-Power Project ("Lesedi") is
100% owned and is the Company's most advanced project. Tlou's competitive
advantages include the ability to drill cost effectively for gas, operational
experience and Lesedi's strategic location in relation to energy customers.
All major government approvals have been achieved.

 

Forward-Looking Statements

This announcement may contain certain forward-looking statements. Actual
results may differ materially from those projected or implied in any
forward-looking statements. Such forward-looking information involves risks
and uncertainties that could significantly affect expected results. No
representation is made that any of those statements or forecasts will come to
pass or that any forecast results will be achieved. You are cautioned not to
place any reliance on such statements or forecasts. Those forward-looking and
other statements speak only as at the date of this announcement. Save as
required by any applicable law or regulation, Tlou Energy Limited undertakes
no obligation to update any forward-looking statements.

 

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