Tlou Energy Ltd - Brisbane, Australia-based power company focused on sub-Saharan Africa - Currently plans for first revenue in the second half of 2023.
Building 100 kilometre transmission line from Lesedi project in Botswana, which will complete in mid-2023. Sale of electricity can start thereafter.
Notes its two production wells Lesedi 3 and Lesedi 4 continue to produce gas. Current 2P gas reserves stand at about 41 billion cubic feet.
"The company's primary objective remains gas and solar power generation and sale within Botswana followed by hydrogen and solid carbon production. Crypto mining is currently only planned to be conducted if excess gas or power is available," it adds.
Current stock price: 1.70 pence, down 5.6% on Monday
12-month change: down 28%
By Paul McGowan; paulmcgowan@alliancenews.com
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Tlou Energy (TLOU)