LONDON (Alliance News) - Tlou Energy Ltd on Monday reported very significant upgrade to gas reserves at its Mamba and Lesedi projects in Botswana.
The company said proved and probable gas reserves for the projects have increased to 40.8 billion cubic feet 3.9 bcf. Proved, probable and possible gas reserves increased by 63% to 426.6 bcf from 261.1 bcf.
Tlou said this "confirms that there is huge gas production potential" and these projects potentially represent an "extremely valuable" resource for shareholders.
Shares in Tlou were down 5.60% at 7.79 pence each.
Tlou Energy (TLOU)