Tlou Energy Ltd (LON:TLOU) told investors it has renewed three prospecting licences in Botswana.
The company revealed that the Lesedi project, comprising a total of five coal bed methane prospecting licences, would now run for at least a further two years.
Lesedi, which spans 3,800 square kilometres, is presently the focal point of Tlou’s operations. It includes the Selemo project area, a location where Tlou has been producing gas for an extended period.
“The area covered by these licences is of significant importance to Tlou and subject to results of the ongoing field operations the company may convert part of these prospecting licence areas to a Mining Licence during the term of the current renewal period,” the company said in a statement.
A mining licence would be required prior to a full field development at Lesedi.