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Tlou Energy advancing discussions with Botswana investors to expand field operations

Tony Gilby, managing director of Tlou Energy Limited (LON:TLOU) (ASX:TLOU), caught up with Proactive London's Andrew Scott following their AU$1.2mln premium priced placing.

Gilby says it's been welcome to see the confidence shown in the company by the two existing shareholders who took part in the raise.

He adds the additional capital removes perceived near-term financial pressure from the company.

The subscribing shareholders agreed to a voluntary 12-month escrow of the new shares, meaning they can’t be sold in the first year following the placing.

Meanwhile Tony adds that they're continuing discussions with Botswana based entities to fund expanded field operations and the first stage of above ground power generation infrastructure.

Quick facts: Tlou Energy Limited

Price: 4.99 GBX

AIM:TLOU
Market: AIM
Market Cap: £22.46 m
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Full interview: Tlou Energy's Tony Gilby updates on Lesedi production ahead...

Tlou Energy Limited’s (LON:TLOU) Tony Gilby speaks to Proactive London's Andrew Scott ahead a site visit next week. He says they've made an excellent start to flow testing at its Botswana coal bed methane wells. Gilby adds that, like most new CBM wells, the Lesedi operation is expected to...

on 21/10/19

2 min read