Tlou Energy Ltd (LON:TLOU) updated investors on its activities in the three months ended March 31, in which the company focussed on the Lesedi and Mamba coal bed methane (CBM) projects in Botswana.
At Mamba, the company successfully drilled its first core-hole, and it purchased a drilling rig to facilitate a programme of multiple additional core-holes.
WATCH: Tlou Energy 'in a great position' after significant increase in gas reserves
The plan is to further expand the group’s gas reserves.
It highlighted that during the quarter, it achieved a significant increase in gas reserves – proved and probably (2P) reserves rose by 944% to 40.8bn cubic feet (BCF), while incorporate possible reserves the 3P number increased by 63% to 426.6 BCF.
The company also noted that Botswana’s CBM gas-to-power projects will be retendered, following the cancellation of the previous process.