Tlou Energy Ltd (LON:TLOU, ASX:TOU) has updated investors on its coal bed methane operations in Botswana, as it provides a quarterly report, highlighting a number of project milestones.
The company noted that it completed a seismic survey across the Lesedi and Mamba project areas, obtaining ‘excellent data’ in the process, and it drilled two new core-holes at Lesedi.
READ: Tlou Energy updates on Botswana CBM drill progress
Drilling intersected “gassy coals” and core samples are currently being analysed, alongside the new seismic data.
Initial results are said to be expected “in early 2018”.
Another core hole, the first at Mamba, saw the start of drilling before the end of December and the work is due to be completed by “late January”.
Also during the quarter, the company landed a cornerstone Botswana investor, raising the equivalent of £2.4mln, and completed its listing on the Botswana Stock Exchange.