Tlou Energy Ltd Seismic Survey (0076T)
09 October 2017 - 5:28PM
UK Regulatory
TIDMTLOU
RNS Number : 0076T
Tlou Energy Ltd
09 October 2017
9 October 2017
Tlou Energy Limited
("Tlou" or "the Company")
Seismic Survey
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 work has commenced on the planned 250KM 2D seismic program
across its 100% owned Lesedi CBM Project ("Lesedi") and the
adjacent Mamba Permit.
Highlights
Ø 250 km 2D seismic program will 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 have the Seismic program running and to be working with
Velseis, who are highly experienced in this area. 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 program
progresses."
Further Information
Seismic Survey
The seismic survey will stretch across 250km of the Company's
Lesedi and Mamba projects including over part of the Mining Licence
area.
The Company have identified potential gas reservoir compartments
outside the currently mapped Gas Reserve areas. These compartments
have relatively sparse geological control other than the existing
aeromagnetic data so new seismic data could demonstrate that
continuity of gassy coal exists and this could lead to expanded Gas
Reserves and/or Resources.
The seismic lines have been inspected and cleared and equipment
and safety checks have been completed in advance of commencement of
the acquisition of the 2D data. The acquisition involves specially
designed tractors that are fitted with a vibrating plate, which
transmits a frequency into the ground at specified locations. The
reverberating frequency is recorded via highly sensitive geophones
place along the seismic line, and this is interoperated by
specialised software to identify the underlying structure of the
formation.
Following this, the equipment is demobilised from site, seismic
lines rehabilitated and an acquisition report is prepared, followed
by interpretation of the data and an interpretation report.
Thereafter the data is integrated with the existing aeromagnetic
data to provide a clearer picture of the sub-surface geology. The
data will then be used to identify the initial areas for the
drilling of Core wells and project development and used to assist
in the expansion of Gas reserves and Contingent Resources.
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, Susie Geliher
------------------------------------ ---------------------
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 imported power.
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 a Mining Licence and nine Prospecting Licences, covering
an area of 8,300Km(2) in total, 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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