Tlou Energy Ltd (LON:TLOU)

Tlou Energy Ltd (LON:TLOU)


Share Price
6.95 p
Change
-0.25 (-3.47 %)
Market Cap
£31.29 m
Proactive Investors - Run By Investors For Investors

Tlou Energy Ltd RNS Release

ASX query and response


RNS Number : 2978P
Tlou Energy Ltd
06 February 2019
 

6 February 2019

 

Tlou Energy Limited

("Tlou" or "the Company")

 

ASX query and response

 

 

Tlou Energy Limited, the ASX, AIM and BSE listed company focused on developing gas-to-power projects in southern Africa using coal bed methane ("CBM") natural gas from its gas field in Botswana received a query from the ASX regarding the Company's Appendix 5B for the period ended 31 December 2018.

 

The Company confirmed that it expects to have negative operating cash flows for the coming periods as the Company is engaged in gas exploration and early stage development. The Company also confirmed it is in discussions with external parties that are considering investing in the Company either through equity or the provision of debt facilities. These discussions are at an advanced stage and the Company believes that there is a significant likelihood that this investment will be successfully completed in the near term.

 

Tlou expects to be able to continue its operations and meet its objectives. Operating cash flows have been higher during Q4 2018 and Q1 2019 due to the ongoing drilling programme being undertaken by the Company. This work programme will be completed in Q1 2019, and thereafter operating cash flows will be significantly reduced.

 

The ASX query and the Company's response can be viewed on the ASX website: https://www.asx.com.au/asxpdf/20190206/pdf/442dpmwt60590z.pdf

 

For further information regarding this announcement please contact:

Tlou Energy Limited

+61 7 3012 9793

Tony Gilby, Managing Director


Solomon Rowland, General Manager




Grant Thornton (Nominated Adviser)

+44 (0)20 7383 5100

Samantha Harrison, Colin Aaronson, Harrison Clarke




Shore Capital (Broker)

+44 (0) 207 408 4090

Jerry Keen, Toby Gibbs, Mark Percy




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, has a 100% interest in a Mining Licence and nine Prospecting Licences, covering an area of ~8,300Km2 in total.  The Lesedi and Mamba Projects already benefit from significant independently certified 2P gas Reserves of ~41 BCF. In addition, 3P gas Reserves of ~427 BCF and Contingent Gas Resources of ~3,044 BCF provide significant additional potential.

 

The Company is planning an initial scalable gas-to-power project.  Following successful implementation of this first scalable project, the Company looks forward to evaluating longer-term prospects for the delivery of electricity generated from CBM in Botswana to neighbouring countries.


 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
END
 
 
MSCZMGGZVVRGLZM

Tlou Energy Ltd Timeline

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use