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Good man - you know better than your doc. You know better than any about Sekaname history. And you want us to believe that your Saint Tony commercialisation strategy is to over-spend during development phase by drilling more wells than are necessary, taking longer time to achieve gas production success, spending millions of shareholders dollars supplemented with further dilutory convertible debt - just so your saint can quickly scale up after first power is sold to BPC.

"Additional drilling planned to provide sufficient gas for the first megawatt of power"

They said it themselves. Last week no less.

Ideologue does spring to mind here.

I never said or even suggested Management were not confident in their ability to deliver the gas or the project.

What I am saying is they been saying how confident they are about doing this for a very long time now, in an environment where access to the necessary funding is proving increasingly challenging (unless of course you are Clueless) and where they sneaked into the conversation the recent comment that:

'· Additional drilling planned to provide sufficient gas for the first megawatt of power;'

None of us here know how many of what types of wells are needed to supply enough gas for 1MW of power generation. But Tlou have spent millions of $$$ drilling various wells - and they seem to be saying they need to drill yet more wells to achieve what exactly? Help with this endless dewatering (which I simply do not buy) or have enough gas to ensure continuity of supply for 1MW of power generation.

If that is the case, how many wells are needed for 10MW and scaling to 25MW and 100MW ahead - economies of scale and all that BUT come on now. Everything presently points to a scary reality that they do not know how to make their wells work consistently or efficiently or effectively.....

Not a great look for St Tony now is it ...... The guru that has done it twice before and said Botswana had the best coals he has ever seen.

Brad - catch yourself on. You cannot blame the slow progress of last 2 years on Covid, SynMet, crypto companies, Sekaname, ASX compliance police, global financial markets, dewatering taking infinitely longer than anywhere else in the world (remember your Saint said these were the best coals he had ever seen {my r's} ).

They drilled wells at Selemo, the Lesedi 1, 2, 3, 5 with 4 and 6 needing additional lateral pods and blah blah ....

Maybe they have no idea WTF they are doing out in the field..... Just a thought - I mean, they engage Suppliers and Contractors to deliver everything else. But the absolute first step to being successful here is getting commercial quantities of high content methane - something they refuse to comment upon....... Who's fault would that be I wonder.

Final Results said they need to drill more wells to deliver the fist MW of power.

Botswana wants Tlou (and Sekaname and Botala) to demonstrate that CBM can be an energy success story for the country - and given Tlou is so far ahead of the other 2, they might as well tell the market the good news on flow rates and content. I dont see a commercial reason to not share reasonable detail with the wider market on this - get people out there excited about the progress etc.

Unless of course the wells performance are not hitting expectations - and their statement that more wells are required to deliver the first MW of power - that is harem scarem stuff !!

Tlou spent $12m on Project construction last year (transmission line and sub-stations mostly I expect) - just imagine if all that was spent knowing they could not guarantee well performance to provide enough gas for just 1MW of power generation.

Squeaky bum time me'thinks for St Tony and team.

2021: The Company has drilled development wells in the Lesedi project area which have produced CBM gas. These wells were designed to achieve enhanced gas flow rates in the area proposed for the Company’s initial project development. The gas flow rates from these wells are vitally important to assess the viability of the Lesedi project and management are confident that commercial gas flows can be achieved. However, at the date of this report the level of gas that can and will be produced from the project and if it will be at commercial rates is not yet known.

2020:

Notable achievements to date include:

 Flowed gas from the Selemo Pilot for approximately 2 years;

 Generated electricity from the Selemo Pilot gas for several months;

 Obtained upstream environmental approval for over 200 production wells, water handling, seismic, gas gathering pipelines and a gas processing facility;

 Successfully completed two gas production pods (Lesedi 3 & 4) in 1H19, safely and on budget;

Likely developments, risks and expected results of operations

The Company has drilled development wells in the Lesedi project area which have produced CBM gas. These wells were designed to achieve enhanced gas flow rates in the area proposed for the Company’s initial project development. The gas flow rates from these wells are vitally important to assess the viability of the Lesedi project and management are confident that commercial gas flows can be achieved. However, at the date of this report the level of gas that can and will be produced from the project is not yet known.

5 years of giving it a crack - and still management are confident that commercial gas flows can be achieved BUT the level of gas 'is not yet known'.

2024: The Company has drilled wells in the Lesedi project area and plans to drill further wells to produce CBM gas. These wells are designed to achieve sufficient gas flow rates for the Company’s initial project development. The gas flow rates from these wells are vitally important to assess the viability and commerciality of the Lesedi project. However, at the date of this report the level of gas that may be produced from the project, if gas flow rates can be sustained and if gas production rates will be at commercial rates is not yet known. Further wells will also be required to produce sufficient gas for the planned Lesedi project.

2023: The Company is drilling wells in the Lesedi project area to produce CBM gas. These wells are designed to achieve sufficient gas flow rates for the Company’s initial project development. The gas flow rates from these wells are vitally important to assess the viability and commerciality of the Lesedi project. However, at the date of this report the level of gas that may be produced from the project and if gas production rates will be at commercial rates is not yet known. Further wells will also be required to produce sufficient gas for the planned Lesedi project.

2022: The Company has drilled development wells in the Lesedi project area which have produced CBM gas. These wells were designed to achieve enhanced gas flow rates in the area proposed for the Company’s initial project development. The gas flow rates from these wells are vitally important to assess the viability of the Lesedi project and management are confident that commercial gas flows can be achieved. However, at the date of this report the level of gas that can and will be produced from the project and if it will be at commercial rates is not yet known. In addition, further wells will also be required to produce sufficient gas for the planned Lesedi project.

They do say the trend is your friend JP.

Your selective hearing makes me laugh. They were incredibly disingenuous throughout the early stages of this project - over-promising and under-delivering (why else do you think i have whinging for so long). Finally they reigned in that approach realising they had to start delivering against their often stated milestones - and they have consistently struggled to achieve pretty much all of them in last 2 years.

If you dont see that; if you cannot accept that - well as long as you are happy in your little cosy rosy worldly bubble.

How about you get over me - and start focusing on where you invested your money.

Clearly horizontal wells dont work so good in Botswana - suggests the coals are not tight enough (unlike Aussie where the coal in much harder with less fines). 2 horizontal wells working properly should supply enough gas for probably 10 or more MW. So the fact Tlou is struggling with Lesedi 4 and 6 is a problem (regardless of however much you choose to ignore this).

For goodness sake - saying they need to drill more wells just to deliver the 1st MW of power. Wake up you numptie.

Or a false dawn ....... But of course the cheerleaders here will never countenance such a heretical suggestion. This is St Tony after all.

Where is Clueless with his wisdom of easy fundraising efforts. Just issue more shares - easy peasy.

Take a look at Botala announcement today - describes their plans to get gas proven and flowing by end 2025. Then scaling up from there ...... I am sure I have read this before somewhere.

But then they have only 196m shares in issue and price 7 cents and need A$20m to execute plans. They should engage Cloo to help issue the shares.

Oops the 250t bulk sample is the Hazen deposit; not CS. Same logic - it needs to fit the bill for supply chain for the buyer.

I sent Sunrise /PC an email back in May (I think) asking about progress on the testing of the 250t bulk sample. The answer back was that this would be updated in the upcoming Half Year results announcement. Which of course came out and said nothing of relevance.

I was always wondering if it was sent to Geofortis for testing - and with their recent news about selling the Plant to CRH, maybe this was pushed to the bottom of list of things to do. But then the 250t bulk sample could have been sent to someone else to test.

Anyways - it highlights (to me) that PC has no significant bargaining power on driving /forcing the cement majors towards a deal on CS deposit. So he and we just have to hope the quality of the CS pozzolan is both good enough and big enough for them to want to secure a supply chain source.

Tlou's power project is no longer isolated from primary Botswana electricity market:

· The Lesedi substation is about 75% complete and due for completion later this year;

· Lesedi production wells continue to produce gas with a focus now on stabilising surging gas flows;

· Advanced discussions are being held with a Tier 1 generator supplier;

· Additional drilling planned to provide sufficient gas for the first megawatt of power;

· The power station is anticipated to be commissioned in 2025;

· The Company is waiting on the funding to complete grid connection, drill additional wells and commence sale of electricity;

What they are really saying is:

- we are struggling to make Lesedi 4 and 6 horizontal wells work; and

- we don't have enough money to finish this project;

And the most damning comment - we need to drill more wells.

Sorry guys - told ya so !!! How many years ago I wonder ....

No i don't. Just as I don't expect the guys in the field to be the ones putting PR pieces together for release to the market.

TAWT

I didnt realise his job was to be busy 'out in the field'. Blowing smoke !! As usual.

A) Completed Independent Feasibility Study for development of the wells drilled within the Serowe Gas Project and a Pre-Feasibility Concept Study of downstream distribution options. These: i. ii. Confirmed project robustness. Outlined a pathway to commercial production. b) Cost Modelling of development options, risks and costs confirmed the commercial potential of using gas to generate electricity and especially to produce LNG. c) Feasibility Study for total project becomes bankable when off-take agreements are secured, and downstream development options are adequately developed. i. ii. Off-take agreements expected shortly considering: • Huge local industrial demand for gas. • Forecast gas shortage in South Africa from early 2027 onwards. • Advanced negotiations with potential off-takers. Downstream options will be decided soon, determined by offtake options of: • LNG production using scalable, off-the-shelf LNG units (most likely long-term option). • Supplying gas to nearby Orapa or other gas-fired power stations. • Converting methane to hydrogen and high value graphene using exciting technology developed in Brisbane by Turquoise Group with whom Botala has a non-binding MOU. d) Positive Commercial Outcomes with attractive IRRs and NPVs for the lowest gas flow and very positive for medium and high flows considered. e) Unsustained gas flows for three flaring events exceeded the low flow rate case. f) Downstream Options of gas compression (CNG), liquefication (LNG), and power generation with connection to the Southern African Power Pool (SAPP) were considered to maximise commercial potential. g) Outlined following pathway for a modest Initial Production Target sufficient for 10MW of electricity generation: i. ii. iii. iv. Demonstrate commercial gas flow of the 5-well cluster drilled around the Serowe-3.1 well. Use gas flow data to upgrade Feasibility Study for entire Serowe Project by late 2025. Increase production over a 3-year period with 60% debt and 40% equity funding. Possible for up to ~70% of the equity funding being generated by early cash flow.

Conclusions are subject to sustained gas flows of greater than ~40mscf/d and securing necessary funding and sales agreements.

First there was 'clueless99',

who tripped up and posted as 'Daddylongleg',

who stayed away for a wee while, but of course was planning all along for his exciting comeback,

as Bobs_Projects

Yeah, he is priceless. In 6-9 months he only posts about his hero - Bots_Projects.

I am flattered. Sure as long as he is amusing himself.........

Check his other posts under Cloo and Stumpy - all quality stuff. If you like that sort of thing i suppose.

Maybe they have their approach to PR nowadays is correct whereas back then they were guilty of over-promising on timelines etc.

Fair play to them in that they said they were going for a small gas to power project (which they would scale up) - this is what they have stuck to.

My starting point in believing what the management team were saying and promising is just different to pretty much everyone on here. Lads, a little respect please perhaps, eh !

Given Winni comments, I thought I would check back on Tlou comments made around previous fund raising announcements. CC interview with Proactive in February 2023 said they had a very busy year ahead with ... blah blah ... completion by end of year and first power early next year. And in addition to drilling Lesedi 6, also had the aim of installing first Generating Assets on site later this year (ie 2023).

Well here we are at end Qtr 3 2024 - and they still have not bought the generating Assets.

And you wonder why i repeatedly keep suggesting this management team are disingenuous !! This is but one of goodness knows how many similar statements and assertions and projections that just never happen in their suggested timelines.

Yeah he has been around for years as well. Like most, he is simply talking in general terms. Trotting out the oft touted PR advantages of the company.

Connection to the grid and selling power to someone other than BPC has yet to be tested. It is yet another step where Govt / Ministry / Minister can slow things down, and in this case since Tlou (or whoever) wants to use their infrastructure to generate revenue, you can be sure greedy paws will be seen aplenty. Now if they Tlou to offset what Tlou would owe them v what BPC has to pay to Tlou for electricity purchased, then we would have a neat solution. But they wont do that because that is the logic and sensible approach to take.

PS does he have another profile I wonder .... Allonblack perhaps

Winni and Brad - I am just trying to help you along with your journey towards the final stage - Acceptance. Then you can have some peace. You will feel much better. Your constant optimism and expectation for the Tlou juggernaut, sorry Tuk Tuk, to deliver your early expectations has got to be affecting your mental healths.

Let go of it guys!! The other side is so much more liberated.