TIDMTLOU
RNS Number : 6545G
Tlou Energy Ltd
31 May 2017
31 May 2017
Tlou Energy Limited
("Tlou" or "the Company")
Seismic Survey Contractor Appointed
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 it has appointed Velseis Pty Ltd ("Velseis"), an experienced
seismic survey contractor, to undertake a fully funded seismic
survey for both its 100% owned Lesedi CBM Project ("Lesedi") and
the adjacent Mamba Permit.
Highlights
Ø 250 km 2D seismic programme targeted to commence Q3 2017
Ø Target areas considered to be highly prospective for the
addition of Gas Reserves
Ø Aim to increase Gas Reserves at both the Lesedi and Mamba
projects
Ø Results will facilitate location of vertical drill holes to
further confirm Gas volumes in the ground
Ø Positive results will further de-risk the Lesedi project
Tlou's Managing Director Tony Gilby said, "Tlou is extremely
pleased to be working with Velseis, a company with significant
seismic experience. This survey will give us the opportunity to
expand our Gas Reserves and Resources as we progress towards
developing the first CBM gas to power project in Botswana.
The seismic survey will assist in the next step of our plan to
drill more wells by providing us with enhanced knowledge of the
sub-surface in our project areas. Results from subsequent core well
analysis may also lead to further Gas Reserve and Resources and
consequently add further value to Tlou.
We look forward to updating the market as the seismic programme
progresses."
Further Information
Seismic Survey
The seismic survey has been increased in size from that
originally envisaged and will consequently enable the Company to
benefit from economies of scale while increasing coverage beyond
the known Gas Reserve areas currently mapped.
In relation to the latter, potential gas reservoir compartments
have been identified by Tlou outside the currently mapped Gas
Reserve areas. These compartments have relatively sparse geological
control other than the existing aeromagnetic data (which was
recently reprocessed by our Reserve Certifiers). New seismic
control is anticipated to potentially expand Gas Reserves and/or
Resources beyond the currently mapped areas should it be
demonstrated that continuity of gassy coal exists.
Velseis will use their 'Envirovibe' acquisition source
technology to acquire the data. The sequence of events
includes:
-- Acquisition planning and logistics
-- Mobilisation of equipment to Botswana
-- Acquisition of 2D data
-- Demobilisation
-- Preparation of acquisition report
-- Interpret data and preparation of an Interpretation report
-- Integration with the reprocessed aeromagnetic data
Velseis Pty Ltd is an Australian seismic acquisition and
processing company providing a fully integrated range of seismic
technologies. Velseis has built a reputation as the leading
Australian contractor in this field, with over 25 years of
experience throughout the Asia-Pacific Region. The company provides
contracting services for coal, mineral and hydrocarbon exploration
utilising a variety of sources including Vibroseis.
Project Development update
Excellent progress is being made on all aspects on the proposal
due to be submitted to the Government in July 2017, including the
Feasibility Study for the upstream project being conducted by Tlou
and the downstream element being done by Tlou's strategic
development partner Independent Power Corporation PLC.
A detailed Transmission Line study has been conducted by highly
experienced South African consultants and significant analysis
undertaken on different options for connection of the Lesedi field
to the Botswana power grid. The results of this study will soon be
presented to Botswana Power Corporation.
Other aspects of the proposal including, environmental, land
access, field development and economic modelling are all
progressing towards completion. Once the final document is
completed we will provide a further update on the project.
In addition to the potential 100MW power project, the Company is
also pursuing other gas offtake opportunities in the region which
could include options for sale of gas or power via Compressed
Natural Gas and the export of power via the Southern African Power
Pool.
For further information regarding this announcement please
contact:
Tlou Energy Limited +61 7 3012 9793
------------------------------------ ---------------------
Tony Gilby, Managing Director
------------------------------------ ---------------------
Solomon Rowland, Company Secretary
------------------------------------ ---------------------
Grant Thornton (Nominated
Adviser) +44 (0)20 7383 5100
------------------------------------ ---------------------
Samantha Harrison, Colin Aaronson,
Harrison Clarke
------------------------------------ ---------------------
+44 (0) 207 408
Shore Capital (Joint Broker) 4090
------------------------------------ ---------------------
Jerry Keen, Mark Percy, Toby
Gibbs
------------------------------------ ---------------------
Optiva Securities Limited
(Joint Broker) +44 (0)20 3137 1904
------------------------------------ ---------------------
Jeremy King, Christian Dennis
------------------------------------ ---------------------
St Brides Partners Limited +44 (0) 20 7236
(Public Relations) 1177
------------------------------------ ---------------------
Lottie Brocklehurst, Megan
Dennison
------------------------------------ ---------------------
FlowComms Limited (Investor +44 (0) 7891 677
Relations) 441
------------------------------------ ---------------------
Sasha Sethi
------------------------------------ ---------------------
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') gas. 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,
Tlou Energy provides investors with access to a compelling
immediate and longer term opportunity using domestic gas to produce
power and displace expensive diesel and import power market.
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 consideration of its goal to become a
significant gas to power producer. The Company has the most
advanced CBM project in Botswana and flared its first gas in 2014.
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 3.2 trillion cubic feet (3C)
and independently certified Gas Reserves.
The Company is planning an initial scalable gas-to-power project
in Botswana. Following successful implementation of this first
scalable project, the Company plans to expand 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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