Tlou Energy Limited (LON:TLOU) told investors that it has submitted a response to the Botswana government’s Request for Proposal (RFP) regarding a proposed coal bed methane project.
The company, in a statement, highlighted that its proposal was submitted as planned, prior to the September 20 deadline, and that it was accepted by the Ministry of Mineral Resources, Green Technology and Energy Security.
WATCH: Tlou Energy's Request for Proposal submission 'the culmination of a great deal of work'
It was one of two companies to submit responses to the government’s RFP, and the submission will be assessed against eligibility, technical and funding criteria.
The proposal is for a coal bed methane (CBM) gas-to-power project that would be developed incrementally.
"Preparation and submission of documentation for the response to the government's request has been a mammoth task, taking many months to complete,” said Tony Gilby, Tlou managing director.
“The submission has described Tlou's planned project in detail as well as outlining the benefits the project can bring to Botswana both directly and indirectly.
READ: Tlou Energy shares advance as Lesedi coalbed methane project reaches major milestone
“With CBM gas reserves, from which we are currently generating power in the field, upstream environmental approval and a mining licence in place, I believe Tlou is well placed, as the leading CBM company in the country, to be able to deliver the project outlined in the submission and I look forward to working with the government to make it happen.”
Tlou shares rose just over 4% to trade at 9.37p.