TIDMTLOU
RNS Number : 6172C
Tlou Energy Ltd
14 June 2023
14 June 2023
Tlou Energy Limited
("Tlou" or "the Company")
Drilling and Operations update
Ø Drilling of Lesedi 6 vertical well and lateral well top-hole
sections complete
Ø Core-hole completed and coal samples acquired
Ø Overhead transmission lines 73% complete
Ø Entitlement offer remains open to eligible shareholders,
partially underwritten up to A$5m
Production Wells
The Company is currently drilling the Lesedi 6 gas production
pod. The pod will comprise one vertical production well (Lesedi 6P)
intersected by two lateral wells (Lesedi 6A and Lesedi 6B) drilled
horizontally through the target reservoir section for several
hundred metres.
Lesedi 6P - Vertical Production Well
This well has been drilled to a depth of 589m and intersected 6m
of the target lower Morupule coal. Well casing was cemented in
place, with fiberglass casing at the target coal seam underreamed
to expose the coal to the well bore to facilitate dewatering and
gas flow.
Lesedi 6A and Lesedi 6B - Lateral Wells
The top hole (or vertical) sections of Lesedi 6A and Lesedi 6B
have been drilled. Both have been drilled to a depth of 150m and
cased with steel casing and cemented. Following cementing, the
wells were drilled a further 2m in preparation for running the
directional tools which are required to complete the lateral
section of the well.
Core-hole drilling
The objective of the core-hole is to provide additional
geological control in the vicinity of the Lesedi 6 gas production
pod.
In addition to providing coal and gas content data, the
core-hole accurately determined the top and bottom of the target
coal seam close to where the lateral section of Lesedi 6A and
Lesedi 6B will enter the coal. This is important data for drilling
of the lateral section of each well.
The core-hole was completed and logged after reaching a total
depth of 535m and intersecting 6m of coal. 18 coal samples were
taken and placed in desorption canisters for further analysis.
Transmission Lines
Work on the transmission lines to connect Tlou's Lesedi power
project to the existing power grid is progressing. Overall progress
to date is 73%. This work is expected to be completed in 3Q23.
The 100 Km line includes planting wooden and steel pole
structures. Most of the wooden poles have been erected and work has
begun on the steel structures. Line stringing is also underway with
30km of the phase conductor and 67km of the GSW earth wire
complete.
Lesedi to Serowe Transmission Line
Substations
Substations are required at either end of the transmission line,
one to tie Tlou's generators to the transmission line at Lesedi and
another to integrate the line with the existing Botswana Power
Corporation (BPC) substation at Serowe.
OptiPower, a division of Murray & Roberts Ltd has been
contracted to complete this work. OptiPower has established a site
in Serowe and appointed subcontractors for detailed engineering
design and civils works with geotechnical assessments, soil
resistivity and topographical surveys now complete. The substations
are expected to be commissioned in 2Q24.
Operations and generation facility
Work is continuing on a purpose-built operations facility for
the initial 10MW development and to allow for project expansion
thereafter. This project is being managed by African Gas Services
on behalf of Tlou and it is expected to be completed later this
year.
This facility will also include the power generation site and
the Company has engaged external advisors to provide technical and
commercial advice relating to site based power generation design,
procurement, construction and operation.
Entitlement Offer
The Company continues to source funding to develop the power
project including an Entitlement Offer to eligible shareholders to
raise up to a maximum of approximately A$10,645,473 (GBP5,855,010,
BWP92,615,612). The Entitlement Offer is partially underwritten up
to A$5m. Full details of the offer are available on the Company's
website https://tlouenergy.com/reports
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
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Solomon Rowland, General Manager
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Grant Thornton (Nominated Adviser) +44 (0)20 7383 5100
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Harrison Clarke, Colin Aaronson, Ciara Donnelly
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Zeus Capital (UK Broker) +44 (0)20 3829 5000
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Simon Johnson
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Public Relations
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Ashley Seller +61 418 556 875
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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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END
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