Tlou Energy Ltd Government Request for Re-tender of 100MW RFP (6361E)
13 February 2018 - 3:18AM
UK Regulatory
TIDMTLOU
RNS Number : 6361E
Tlou Energy Ltd
12 February 2018
12 February 2018
Tlou Energy Limited
("Tlou" or "the Company")
Government Request for Re-tender of 100MW RFP
Tlou Energy Limited, the company focused on developing
Gas-to-Power projects in Botswana and southern Africa through the
development of coal bed methane ("CBM") natural gas, has received
confirmation that the Ministry of Mineral Resources Green
Technology and Energy Security has requested that the Request for
Proposal (RFP) for Development of up to 100MW of CBM fuelled power
plants in Botswana be re-tendered, with the two bidding companies,
including Tlou, invited to submit bids under a new re-tender
process.
The decision to cancel the original RFP and re-tender has been
approved by the Public Procurement & Assets Disposal Board
(PPADB) in Botswana as set out below:
'Ministry of Mineral Resources Green Technology and Energy
Security (MMGE) request for cancellation of the tender for
Development of a maximum of 100MW Coal Bed Methane Fuelled Power
Plants in Botswana and re-tender by shortlisting the same two
bidders who had bid for the tender being Tlou Energy Limited and
Sekaname (Pty) Ltd.'
The Ministry of Mineral Resources Green Technology and Energy
Security will debrief the two bidding companies on Wednesday 14
February 2018 in relation to the original submission and the
planned re-tender process. Thereafter further information will be
available, and the Company will convey this information to the
market as soon possible. Should an RFP re-tender be announced as
referred to in the PPADB statement, the Company will assess this in
detail before making any further decision to participate in the
re-tender process or not.
Other Opportunities
Whilst the Company has been awaiting a response from the RFP
process, in line with its stated aim of becoming a regional power
producer, it has continued to pursue other potential options for
the sale of Tlou's gas or power in the southern African region.
These other opportunities will continue to be developed as a
priority. Developing the project, securing offtake agreements with
third parties, connecting to the grid and selling or wheeling power
regionally is potentially a simpler option which can be better
controlled by the Company. As Botswana is part of the Southern
African Power Pool (SAPP), Tlou is not restricted from connecting
to the grid in Botswana and supplying power via wheeling
arrangements to other SAPP member states.
The Company has already commenced a market study to provide
information on the power sectors in Botswana and surrounding
countries including South Africa, Namibia, Zimbabwe, and
Zambia.
The study will provide an outlook on the potential developments
in the power sectors in these countries from a supply/demand point
of view, target areas with potential power purchasers, estimated
tariff levels, analysis of the political, legal and regulatory
frameworks for the power sectors in the surrounding SAPP countries
and procedures for wheeling power.
Seismic and core-hole data
Results from the recent seismic survey and core-hole drilling
are being assessed by SRK Consulting (Australasia) Pty Ltd, Tlou's
geological consultants and independent reserve certifiers with the
Company expecting to receive an update on this in the near
term.
**ENDS**
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
----------------------
Shore Capital (Joint Broker) +44 (0) 207 408 4090
----------------------
Jerry Keen, Mark Percy, Toby Gibbs
----------------------
FlowComms Limited (Investor Relations) +44 (0) 7891 677 441
----------------------
Sasha Sethi
----------------------
Company Information
Tlou Energy is focused on delivering Gas-to-Power solutions in
Botswana and southern Africa to alleviate some of the chronic power
shortage in the region. Tlou is developing projects using coal bed
methane ("CBM") natural gas. Botswana has a significant energy
shortage and generally relies on expensive imported power and
diesel generation to fulfil its power requirements. As 100% owner
of the most advanced gas project in the country, the Lesedi CBM
Project, Tlou Energy provides investors with access to a compelling
opportunity using domestic gas to produce power and displace
expensive diesel and imported power.
The Company is listed on the Australian Securities Exchange,
London's AIM market and the Botswana Stock Exchange and is led by
an experienced Board, management and advisory team including
individuals with successful track records in the CBM industry.
Since establishment, the Company has significantly de-risked the
project in consideration of its goal to become a significant
gas-to-power producer. The Company flared its first gas in 2014,
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 of 261 billion cubic feet (3P).
The Company is planning an initial scalable gas-to-power
project. Following successful implementation of this first scalable
project, the Company plans to expand to provide further power
across the southern African region.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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