Tlou Energy Share News (TLOU)

TRADING UPDATES: Develop North net asset value down amid rising rates

(Alliance News) - The following is a round-up of updates by London-listed companies, issued this week and not separately reported by Alliance News:

Tlou makes solid progress at Lesedi in first half

(Sharecast News) - Tlou Energy reported significant progress towards its goal of introducing gas-fired power into the Botswana grid later this year in its interim results on Friday.

IN BRIEF: Tlou Energy income rises in first half; loss narrows

Tlou Energy Ltd - Botswana and Southern Africa-focused energy company - In the first half of the year ending June 30, interest income rises to AUD11,383, or GBP5,894 from AUD6,351 the year before. Pretax loss narrows to AUD1.8 million from AUD2.2 million a year ago. Managing Director Tony Gilby says: "The company has made excellent progress over recent months, and we are getting very close to first revenue. Having direct access to the power grid opens up our gas field to a huge market. It has taken hard work and significant investment over many years to get to this point, and we look forward to delivering power and earning first revenue for the company as soon as possible."

Tlou makes progress at Lesedi power project

(Sharecast News) - Tlou Energy updated the market on the Lesedi project on Friday, reporting significant progress towards electricity generation.

IN BRIEF: Tlou Energy makes progress on Lesedi power generation site

Tlou Energy Ltd on Friday - Botswana and Southern Africa-focused energy company - Says the Lesedi 4P and 6P production wells in Lesedi, South Africa, are continuing to flow gas. Says gas flow rates will be measured once the wells stabilise and stop surging. "Tlou is confident that with the in-house knowledge gained from recent drilling efforts, extracting more and more gas out of the coal reservoir will become progressively simpler and more cost effective due to economies of scale", it says. Adds that The 66 kilovolt electricity transmission line connecting its Lesedi power generation site to the power grid has been constructed and the line has been connected to the Serowe substation. Minor finishing works and the addition of switchgear at the Serowe substation will be done before the line is energised. Says this will happen as soon as the substation at Lesedi is complete, which is expected halfway through 2024. "The transmission line is a vital element of the Lesedi project. With the completion of the transmission line, the Lesedi project is no longer isolated from Botswana's electricity market and is now connected to the broader Southern African Power Pool", Tlou says.

EARNINGS AND TRADING: Nanoco receives proceeds from Samsung litigation

(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

IN BRIEF: Tlou Energy pushes AUD13.3 million fundraise to January 31

Tlou Energy Ltd - Botswana and Southern Africa-focused energy company - Announces extension of closing date for entitlement offer to January 31 from January 12. In December, Tlou announced its intention to raise AUD13.3 million, around GBP7.0 million, through the offer of four new ordinary shares for every eleven ordinary shares held by ASX and BSE shareholders at a price of AUD0.035 each. Tlou says that the funds would be used to develop its Lesedi power project in Botswana and provide the company with working capital. Adds that the extension will allow "extra time for eligible shareholders to take up their entitlements".

IN BRIEF: Tlou Energy in entitlement offer to raise AUD13.3 million

Tlou Energy Ltd - Botswana and Southern Africa-focused energy company - Announces entitlement offer for four new ordinary shares for every eleven ordinary shares held, at a price of AUD0.035 each to raise AUD13.3 million. Explains the offer is open to ASX and BSE shareholders only. Says certain directors are participating in the entitlement offer with commitments in place for a minimum of AUD613,308. Funds raised and existing capital will go towards development of Tlou's Lesedi power project and working capital.

UK shareholder meetings calendar - next 7 days

IN BRIEF: Tlou Energy shares up amid first gas flow at Lesedi

Tlou Energy Ltd - Botswana and Southern Africa-focused energy company - Celebrates first gas flow from Lesedi 6 production pod in Botswana. The Lesedi power project is 100% owned by Tlou, and it is located around 100 kilometres from the existing power Botswana Power Corp grid. Connection will allow Tlou to sell power into the existing grid, as well as to the Southern African Power Pool.

UK shareholder meetings calendar - next 7 days

AIM WINNERS & LOSERS: Quartix falls as downgrades 2023 expectations

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Friday.

Tlou Energy raises money via placing shares to fund Lesedi project

(Alliance News) - Tlou Energy Ltd on Friday said it raised money via placing shares to fund the development of its Lesedi project in Botswana.

EARNINGS: Ariana Resources profit shrinks; Tekcapital swings to loss

(Alliance News) - The following is a round-up of earnings by London-listed companies, issued on Friday and not separately reported by Alliance News:

Tlou reports progress at Lesedi production pods

(Sharecast News) - Tlou Energy announced the successful completion of drilling activities at its Lesedi 4 and 6 production pods on Monday, marking a significant step forward in its ongoing gas production efforts.