TIDMTLOU

RNS Number : 5422S

Tlou Energy Ltd

22 December 2016

22 December 2016

Tlou Energy Limited

('Tlou' or 'the Company')

BOARD OF DIRECTORS UPDATE

Tlou Energy Limited, the AIM and ASX listed company focused on delivering power in Botswana and southern Africa through the development of coal bed methane ('CBM'), is pleased to announce that Anthony (Tony) Gilby, who has been on extended leave due to illness, is returning to the Board in a full-time capacity effective 1 January 2017.

Mr. Gilby will return to his original position of Managing Director. During Mr. Gilby's leave, Mr. Gabaake Gabaake held the role of Acting Managing Director. Mr. Gabaake will continue in the position of Executive Director which he held prior to taking on the role of Acting Managing Director. Mr. Gabaake will govern local stakeholder relations and contracts in Botswana as the Company progresses its planned CBM-to-power project in 2017, which is the most advanced CBM project in the country.

There have been no material changes to the contracts held by any of the other Board Directors. All the duties and responsibilities of Mr. Gilby's previous Managing Director role will remain the same. He will receive an annual salary of A$260,837 along with Superannuation of A$11,289. This is 50% of Mr. Gilby's contracted remuneration.

Board positions effective 1 January 2017

   Anthony (Tony) Gilby                    -              Managing Director 
   Martin McIver                                   -              Non-Executive Chairman 
   Gabaake Gabaake                            -              Executive Director 
   Colm Cloonan                                   -              Finance Director

Solomon Rowland

Company Secretary

Tlou Energy Limited

Website: www.tlouenergy.com

For further information regarding this announcement please contact:

Tony Gilby Solomon Rowland

Director Company Secretary

Email: info@tlouenergy.com Email: info@tlouenergy.com

Company Information

Tlou Energy is an AIM and ASX listed company focused on delivering power in Botswana through the development of coal bed methane ('CBM') projects. Botswana has a severe energy shortage and is currently relying on expensive imported power and diesel generation to deliver its requirements. However, as the 100% owners of the most advanced gas project in the country, the Lesedi CBM Project ('Lesedi'), Tlou Energy provides investors with access to an immediate and longer term opportunity using domestic gas to produce power at lower costs than the current arrangements.

The Company is led by an experienced Board, management and advisory team including individuals with successful track records in the Australian CBM industry.

Since establishment in 2009 the Company has significantly de-risked the project in pursuit of its goal to become a significant gas to power producer and the Company has the most advanced CBM project in Botswana. It holds 10 prospecting licences covering an area of 8,300Km(2) and the Lesedi project already benefits from significant, independently certified contingent gas resources of 3.3 trillion cubic feet (TCF) (3C) as well as an initial independent gas reserve certification.

The first planned gas-to-power solution is expected to be delivered through a scalable project with the Botswana Government. Following successful implementation of this project the Company plans larger projects to provide further power to Botswana and the southern African region.

This information is provided by RNS

The company news service from the London Stock Exchange

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