Tlou Energy (ASX:TOU), which recently saw a successful debut on the ASX, has executed key contracts for drilling services, directional survey and wireline logging at its coal seam gas tenements in Botswana.
Drilling is expected to start by end of April.
The drilling work will be done by DWD Drilling Technologies, a Botswana-based company, while Mitchell Drilling International will provide directional services component for the horizontal drilling operation.
Purchase orders for casing and other well drilling and production equipment have also been made,
The company is expecting regulatory approval from the Botswana Department of Environment for the drilling program within the next two weeks.
The company began trading on the ASX last Tuesday following the completion of a successful IPO raising $10 million.
Tlou Energy has witnessed strong investment demand from institutional and retail investors leading to a market capitalisation of $51.5 million.
It is focused on identifying and developing unconventional gas opportunities in southern Africa, with principal assets located in Botswana.
These assets, which include the Karoo Central and Karoo West CSG tenements, span around 7,000 square kilometres of the Karoo-Kalahari basin.
Tlou has been active in Botswana for over three years having invested about US$40 million on drilling and testing programs.
The Karoo Central project is one of the most advanced CSG projects in southern Africa as a result of this investment.
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