Tlou Energy Ltd (LON:TLOU)

Tlou Energy Ltd (LON:TLOU)


Share Price
6.15 p
Change
-0.1 (-1.60 %)
Market Cap
£27.69 m
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Tlou Energy Ltd

Tlou Energy is an AIM, ASX and BSE listed company focused on delivering power in Botswana and the broader southern African region through the development of coal bed methane (‘CBM’) projects.

EPIC: TLOU
Market: AIM:TLOU
ASX:TOU
52-week High/Low: 10.30p / 4.00p
Sector: Energy
Market Cap: £27.69 m
Website: tlouenergy.com
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Tony Gilby, managing director of Tlou Energy Limited (LON:TLOU) pitches the company to investors. For more information visit: tlouenergy.com

Big Picture – A Deep Dive Examination of Tlou Energy Ltd


Tlou Energy Ltd Snapshot

 

Botswana_map1

Tlou’s principal assets are in Botswana where it has the one of the most advanced CBM projects in southern Africa. Tlou’s 100% owned Lesedi CBM project has an independently certified contingent resource of up to 3.2 trillion cubic feet (3C) with a further prospective resource totalling 8.6 trillion cubic feet (High Estimate). Tlou is the first company in Botswana to have certified CBM gas reserves.

Botswana and other southern African countries are currently experiencing electricity supply deficits. Tlou believes the electricity market represents an attractive commercialisation path for the Company’s CBM.

The Company holds 10 Prospecting Licences covering an area of ~8,300Km2 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.

Botswana’s Department of Environmental Affairs has approved the Environmental Impact Statement (‘EIS’) submitted by the Company in December 2015 for Lesedi. The EIS was a prerequisite for the Mining Licence which was granted in 2017. Environmentally, there is a need in Botswana for the development of a relatively clean, low carbon energy source to replace the use of coal and diesel in the production of electricity.

Tlou received a request for proposal (‘RFP’) from the Botswanan Government to provide up to 100MW of CBM power from its Lesedi project.

The Company is led by an experienced Board, management and advisory team, some of whom have a very successful record in the CBM industry in Australia. Tlou is positioned to capitalise on a first mover advantage in the southern African onshore gas industry.

Tlou Energy will consider new opportunities across the southern Africa region but remains focussed on Botswana for the foreseeable future.

Martin McIver
Chairman

 

Martin has over 14 years experience as General Manager for mining services companies including bulk and dangerous goods logistics, and drilling services.  Martin was the Executive General Manager of the Mitchell Group, a vertically integrated coal and coal seam gas company with investments and operations across Australia, Asia and Africa. Prior to joining the Mitchell Group, Martin was a Director in Mergers and Acquisitions with PricewaterhouseCoopers.

Martin was appointed Non-Executive Director in September 2010 and is currently the Chief Financial Officer of the Workpac group.

Martin holds an MBA (International) from the American Graduate School of International Management, a Graduate Diploma in Applied Finance and Valuations (FINSIA/Kaplan) and a Bachelor of Business (Marketing) from the Queensland University of Technology.

 

 

Anthony  Gilby
Managing Director and Chief Executive Officer

 

Anthony (Tony) Gilby was awarded a Bachelor of Science (First Class Honours) degree in Geology from the University of Adelaide in 1984, and also won the University Medal in Geology. He began his career as a geologist for Delhi Petroleum in the Cooper Basin.

He subsequently held a series of positions and with ESSO (after the Delhi acquisition). His roles included exploration geology, geophysics, petrophysics and working in the Exxon Production Research Centre in Houston.

On his return to Australia, he continued to work with ESSO prior to relocating to Brisbane where he worked for MIM Petroleum and the Louisiana Land and Exploration Company (LL&E). In 1996, he left LL&E to take on a variety of consulting roles as well as the acquisition of prospective Queensland acreage in a private capacity. This work culminated with the founding of Sunshine Gas where he remained Managing Director until its sale for $1.1billion in late 2008.

He is a founding director of Tlou Energy and took over the role of MD & CEO in early 2012.

Gabaake Gabaake
Executive Director

 

Graduated with a B.Sc. in Geology from the University of Botswana in 1986 and with a masters degree in groundwater hydrology from the University College of London in 1989.

A highly accomplished former Botswana Government Senior Public Servant with a track record for outstanding results delivery and good leadership qualities. For the last two and half years of his public service career headed the key Ministry of Minerals, Energy and Water Resources and led it to become the No.1 ministry in terms of performance in the Botswana Public Service. A professional geologist with a high level of knowledge in policy formulation, analysis and implementation in the minerals, energy and water sectors. Oversaw the successful development and implementation of a strategy to overcome Botswana’s worst power crisis between 2008 and 2010 and implementation of a comprehensive review of the water sector institutional framework in Botswana.

Has served in various private company boards such as De Beers, Debswana and DTC in various capacities. Authored two chapters in the Botswana National Atlas and has presented many technical papers at various international conferences. Is a highly skilled public speaker and writer.

Colm Cloonan
Finance Director

 

Colm Cloonan is the Chief Financial Officer of Tlou Energy Limited. Colm is a Fellow of the Association of Chartered Certified Accountants (FCCA) with over 16 years’ experience in various finance roles.

Colm began his career in Ireland working with clients in different industries with a specific focus on the construction industry. He moved to Australia in 2005 and commenced working with an audit and business services firm in Brisbane then later as an independent consultant providing financial and management accounting services. Colm has significant experience working with clients in retail, travel, motor and power generation industries.

Colm joined Tlou in 2009 at the very early stages of the company’s activities and has been with the company through all phases of its operations and development to date. This includes being a key member of the team involved in the company’s successful 2013 ASX listing.

Colm studied accountancy at the Galway-Mayo Institute of Technology in Ireland.

 

 

Hugh Swire
Non-Executive Director

 

Hugh started his career working with Mahon China, an established investment management and advisory partnership based in Beijing. Active in China since 1985, Mahon China have over 3 decades of experience advising foreign companies with investments and corporate activities in China. Hugh has remained a Partner of the firm and now supports UK / EU companies from London looking to expand and find partners in China or increasingly support Chinese companies looking to make investments internationally.

After leaving Mahon China, Hugh spent a decade working for Investment funds and International banks in Hong Kong and Tokyo where he worked for Nomura as well as in London for J P Morgan where he was Vice President.

Since 2010, Hugh has been focused on supporting fast growing UK companies in the low carbon and technology sectors by investing growth capital in Water Powered Technologies Ltd, a leading innovator in zero energy water management systems as well as MWF Ltd, one of the largest suppliers of renewable heat in the UK, which has since been sold to Aggregated Micro Power Holdings plc. Hugh also helped found a leading technology education company Black Country Atelier Ltd, which provides specialist training courses to students globally in 3D printing (CAM) digital electronics and CAD.

Hugh still travels to China regularly after studying Chinese at Oxford University graduating with a BA Hons.

 

 

Linah Mohohlo
Non-Executive Director

 

Ms Linah Kelebogile Mohohlo, aged 65, is the former Governor of the Bank of Botswana, a position she held from 1999 to 2016.  Ms Mohohlo joined the Bank of Botswana in 1976, where she served in several capacities prior to being appointed Governor, including Board Secretary, Deputy Director of Research, Director of the Financial Market Department and Deputy Governor.

Ms Mohohlo is a member of the Commission for Africa, and the Africa Progress Panel, a group of ten distinguished individuals who advocate at the highest levels for equitable and sustainable development in Africa.  In May 2015, United Nations Secretary-General Ban Ki-moon appointed Mohohlo as member of the High-Level Panel on Humanitarian Financing, an initiative aimed at preparing recommendations for the 2016 World Humanitarian Summit.

Along with her contacts and expertise in the banking and finance sectors, Ms Mohohlo also brings to Tlou significant experience from the mining industry in Botswana as a board member of both Debswana Diamond Company and Diamond Trading Company.

Ms Mohohlo holds a Bachelors Degree in Economics from The George Washington University, Washington DC, a Masters Degree in Finance and Investment from University of Exeter, UK and a Diploma in Accounting and Business Studies from the University of Botswana.

 

Significant Shareholders


 

Shareholder No. of Shares Owned % of Shares on Issue
Hargreaves Lansdown (Nominees) Limited <15942> 24,998,868 6.11%
FNB Nominees Ltd 19,230,769 4.70%
Hargreaves Lansdown (Nominees) Limited 16,965,107 4.15%
Gilby Super Pty Ltd 13,604,240 3.33%
Citicorp Nominees Pty Limited 13,168,560 3.22%
Interactive Investor Services Nominees Limited 12,311,363 3.01%

 

 

Issued Share Capital 409,113,535

The number of shares which are not in public hands (representing the Director’s holdings) is 28,485,952 shares equivalent to 6.96% of the Company’s issued share capital.

This information was last updated on 4 February 2019.

Contact Information

210 Alice Street
Brisbane QLD 4000
AUSTRALIA

Phone:  +61 7 3012 9793
Email:    [email protected]

 

Nominated Adviser


Grant Thornton UK LLP
30 Finsbury Square
London EC2P 2YU
Tel:+44 (0) 207 383 5100

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Brokers

Australia
Taylor Collison Limited
Level 10, 167 Macquarie Street
Sydney, NSW 2000
Tel:+61 (2) 9377 1500

UK
Shore Capital Stockbrokers Limited
Bond Street House
London W1S 4JU
Tel:+44 (0) 207 408 4090
 

 

Contact Information

210 Alice Street
Brisbane QLD 4000
AUSTRALIA

Phone:  +61 7 3012 9793
Email:    [email protected]

Share Registrar


Australia
Link Market Services
Level 15, 324 Queen Street, Brisbane
Queensland 4000, Australia

UK
Computershare Investor Services PLC
The Pavilions, Bridgwater Road
Bristol BS13 8AE, United Kingdom

 

 

 

 

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