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Tlou Energy confirms tender submission for coal bed methane project

"We are delighted that the re-submission of the tender has been completed and look forward to a response from the ministry,” said Tony Gilby

Tlou Energy
Drilling is due to start in October
Tlou Energy Ltd (LON:TLOU) has told investors that it has submitted its tender to the Botswana authorities for its proposed coal bed methane gas-to-power project.
The company, in a statement, highlighted that its proposal involves the development of a CBM Gas-to-Power project in stages with an initial development of up to a 10MW capacity.
It added that the submission will be assessed based on eligibility, technical and funding criteria.

READ: Tlou Energy gearing up for October drilling

"We are delighted that the re-submission of the tender has been completed and look forward to a response from the ministry,” said Tony Gilby, Tlou managing director.
“We have detailed what we believe is a very compelling and robust proposal.  
“If successful this project can help start a new CBM industry in Botswana, create further employment, provide a much-needed local clean power source, and bring a return for Tlou investors.”
Tlou noted that the timeline for the remainder of the tender process is not yet known, though it also said that it is due to start a drilling programme very soon.
Gilby added: “Tlou is well placed, as the leading CBM company in the region, to be able to deliver the project outlined in the submission and we look forward to working closely with the government to make it a success.  
“I would like to thank all our staff and consultants for their time an effort working on this project.”

Quick facts: Tlou Energy Limited

Price: 5.2 GBX

Market: AIM
Market Cap: £23.41 m

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