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Tlou Energy positive as Botswana tender passes technical phase

The Botswana authorities reviewing the project tenders will now evaluate the financial elements of the two rival proposals

oil and gas operations
Tlou's proposal scored 89.8% in the technical evaluation

Tlou Energy Limited (LON:TLOU) told investors it has received confirmation that the technical stage of the Request for Proposal (RFP) for Development of CBM fuelled power plants in Botswana has been passed.

It means that the Botswana Public Procurement and Asset Disposal Board (PPADB) has now approved a request to open the financial proposal in relation to Tlou’s gas to power tender, as well as the rival proposal from Sekaname.

READ: Watch: Tlou Energy says it's "well positioned for significant advancements”

The two companies last year submitted the proposal for a 100 MW project.

Tlou highlighted that its proposal received a technical score of 89.8% in the tender, while Sekaname was marked at 86.4%.

“The company looks forward to a positive decision on its financial proposal (the final stage of the RFP process) in due course,” Tlou said in the statement.

Quick facts: Tlou Energy Limited

Price: 3.2 GBX

AIM:TLOU
Market: AIM
Market Cap: £14.41 m
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