REG - Tlou Energy Ltd - Lesedi 6 Production Well Drilling

TLOU EnergyAnnouncement

13/04/2023 07:15

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RNS Number : 0961W  Tlou Energy Ltd  13 April 2023

 

 

13 April 2023

 

Tlou Energy Limited

("Tlou" or "the Company")

 

Lesedi 6 Production Well Drilling

 

 

The Company is pleased to announce that work has begun on the next phase of
drilling at Tlou's Lesedi Gas-to-Power project.

 

The Lesedi 6 gas production pod spudded on 10 April 2023 and is at a depth of
approximately 59m.

 

The pod will comprise one vertical production well intersected by two lateral
wells drilled horizontally through the target reservoir section for several
hundred metres.

 

The objective of the pod is to increase the volume of gas available to the
Company for power generation. Lesedi 6 is located to the southwest and
parallel to the existing Lesedi 4 gas production pod which has been producing
gas for some time.

 

Once Lesedi 6 is drilled and completed, dewatering will commence and
thereafter the well will start to establish an indicative gas flow rate.

 

Lesedi 6 is the first well of a proposed drilling program to expand gas
production at the Lesedi project. Gas flows from Lesedi 6 are planned to be
converted to electricity for the existing 10MW Power Purchase Agreement (PPA)
with Botswana Power Corporation (BPC) once the transmission line, substations
and associated electrical infrastructure are in place.

 

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

 Public Relations
 Ashley Seller                                    +61 418 556 875

 

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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