Member Info for BradSmith

Are you sitting comfortably children? Then I'll begin .........

The partnership have half a dozen or so tasks to plan , and need to decide the order to tackle them - a timetable but lacking dates and costs.

Then they need to consider dates and costs which are mutually exclusive.

Eexpensive stages , on time and/or money, will have a knock on effect obviously.

Time to play kiddies, the adults need to talk.

Imho they have made a start on the following ....

1. 1MW of Solar to be created for Kala Data centre use by Tlou.

2a. 5MW of Solar for Tlou use in the first PPA of 2MW.

2b. Tlou installation of item 1.

2c. Tx line completion for 2a

2d. Testing 2c with BPC

2e. Sequence of events {a to d} to be decided on time and cost.

3. Solar PPA underway , Kala Data Centre mark 2 underway.

4. Tlou ready to advance #4 and #6 or to investigate new wells.

5. Which industry looks likely to benefit Tlou most, thinking hedging and site issues.

5a. Gas to the Data Centre 24/7 , or, CBM generated electricity, requiring generators , for 24/7 PPA , or , neither - Tlou need to provide site facilities for lighting, hygene , accommodation, etc etc

5b. How long will 5a apply for? The current volume should be a guaranteed minimum but the hedging arrangement is designed to be flexible. Each increment in Gas flow needs to be considered independently

The final step uses costs in time and funding and whether they are in series or in parallel to plan progress and funding. Hopefully there are no natural disasters like there was in the past but it looks complicated.

I think there was preparation scientifically and practically for new wells, solar , research i.e. anything that needs funding in 2026. I tried finding the figures but the practice of quantifying the in realistic long term credit/assets and debit/debt takes over! So the $3m+ figures we spent last year are the equivalent of $60 billion but our assets are 50% higher around $90billion. Pity the SP does not reflect that amount 😜😜😜😜

Consultancy is 50% of $3 million so I hope their work was worth $30billion in accountancy terms.

Impairment is the magic word! I thought that was cataracts tbh.

Dewatering #4 and #6 Winni.

I am enthralled how #4 is enough for the Data Centre. #6 was always the most promising so I half expect the #6 gas flows to be better than anyone on here expects. Both wells are being dewatered in isolation. We had problems with #3 and #4 together - instead of them combining flows, they fought each other!!! They were at slightly different levels underground and either one was forcing their flow back up the the other well (as I understand it). #3 was shut off during lockdown because #4 was outperforming it. The story is consoling - each well outperforms previous wells so far.

I am convinced TLOU expected to feed the generators at Kala in Q3 2025 or Q1 in 2026 - which justified breaking the bank! Income was imminent! Q2 in 2026 bacause of the delay in delivery kicked that plan into touch!

But it follows imho that funding was expected in early 2026.

Early 2026 was not possible , hence my tip for April or May!!!

I think my logic is sound but the delay resulted in Solar plans being brought forwards!! That makes the time table more predictable - no long waits for the sun to appear in a desert! Unlike gas flows underground!

Similar remarks on HC , Winni. This was my response there.....

There are several issues that need to be sorted out before there is a financial timetable far less a funding schedule.

1. Solar requirements. 1MW for Kala. 5MW for TLOU. Agreement and priority? 5MW will be enough to provide 2 or 3 MW PPA on a part-time basis.

2. PPA 24/7 requirement. Can BPC work with daylight energy that will disappear overnight? If not , do TLOU add Batteries or Storage for compressed CBM gathered during daylight hours? At night the answer will take over.

Funding for this needs to be calculated - and the timetable for 5MW Solar and overnight power supplies. A generator is needed if they use compressed CBM.

3. Any sort of PPA delivery. Needs the TX lines to be finished off. More time and money!

4. Kala have Pilot project to consider. Time and money again!

5. Prioritising all that lot after a 4 month delay in generator delivery is quite complicated. Add whether TLOU are able to build Solar farms and to get the PPA started on CBM simultaneously, with or without funding issues?

I'm not surprised this is taking time - this is no longer a Micky Mouse operation.

6. Put yourself in the director's shoes - it is what I do. They cannot be sure when dewatering will complete - or how long Solar farms take to deliver?

I hope Tlou's contractors can work in parallel, and Kala will fund all of it soon. A lot to expect - but Kala have so many resources at Lesedi that cost them zilch.

Money saved there that ought to be accessible now?

And 4 decades of CBM before Boomslang and Mamba are added? Not sure if they are already included in the 40 years.

On HC I tried to demonstrate how partnering a UAE company was sensible.

GpT called me an idiot for thinking the UAE would be interested in tin pot Tlou?

How stupid is he?

Kala are based in UAE , they clearly expect to need backing from UAE consortiums, and advertise such bodies are in place , and most importantly , they are are not only funding TLOU , but they will clear the loans from their own profits. The Arabs are very used to sharing the loads between themselves , they will be confident that repayment is on the agenda.

I have mentined that taxi plates are more expensive than the vehicles in many districts.

When plates are offered for sale by retiring owners , middle easter families help finance the purchaser , and their churches often find funds too. No interest is paid, and the debts can be spread over long periods without costing anything. British native drivers would have bank charges to pay on the cost of the plate and the vehicle - hence the lack of British owners and the proliferation of middle eastern taxis in many areas.

Tlou have been welcomed as insiders afaics , which is why I am so confident this will be a success!

All that is needed is for the first funding to be exercised! But first things first - is Solar funding the priority?

I'm confident it is - but is it for 1MW plus 5MW - and how soon does the budgetting for CBM follow.

Tlou will not want to pay interest , I'm sure , but they need to get the funding rules very clear. It takes time!

Meanwhile GtP (Donkey) will stick with the old Tlou plans that exists in his short narrow mind!!!!!

Https://drive.google.com/file/d/1QGd_O-TVgZE5P2iRKmu9NLaKmnSM3UFl/view?usp=sharing

is todays https://onlinesudoku.org/ if it is still active. You might try it.

I wrote to them months ago to complain the their puzzles do no have unique answers.

Most days end like this one with 4 and 5 interchangeable , and today 6 and 8 as well.

One pair usually.

I now use the HINT button , which shows their answer.

I use it instead of writing it in with the pad. I have yet to find one wrong on their side.

Mistakes by me are a different matter.

I think this puzzle is at deadlock , so can you see what I have missed?

Liz was much better at these than me - it was her who assured me there is only one solution which requires no guessing at all. They did not respond which tells me nothing.

Holy cow, I have been unable to replicate anything from tutorials!

Predictive text , which most of us hate , in the tutorials is great but my Power Query editor simply does not have it - so everything is guess. The pre-compiler is worse than useless an says everything is fine, whatever I type. But run time errors 3 arguments found 5 expected , tells you nothing.

I found there is an option in the Editor under Query options .

Query Options

Power Query Editor choose it

Enable M Intellisense in the formula bar, advanced editor, and custom column dialog. ©

is a toggled on / off . Query options is on the GET DATA screen.

Using Intellisense I got my function down to this .....

let

#"HTML Code" = Web.BrowserContents("tlouenergy.com/reports"),

Links = Html.Table(#"HTML Code", {{"Link", "a[href]", each [Attributes][href]}}),

Custom = Table.SelectRows(Links, each Text.Contains([Link], "Annual-Report"))

in

Custom

Producing these filenames. 20 minutes work versus 20 days to get to this.

Link

https://tlouenergy.com/wp-content/uploads/2025/09/Tlou-Energy-Limited-Annual-Report-2025.pdf

https://tlouenergy.com/wp-content/uploads/2025/03/2024-Annual-Report.pdf

https://tlouenergy.com/wp-content/uploads/2025/03/2023-Annual-Report.pdf

https://tlouenergy.com/wp-content/uploads/2025/03/2022-Annual-Report.pdf

https://tlouenergy.com/wp-content/uploads/2025/03/2021-Annual-Report.pdf

https://tlouenergy.com/wp-content/uploads/2025/03/2020-Annual-Report.pdf

https://tlouenergy.com/wp-content/uploads/2025/03/2019-Annual-Report.pdf

https://tlouenergy.com/wp-content/uploads/2025/03/2018-Annual-Report.pdf

https://tlouenergy.com/wp-content/uploads/2022/04/2017-TE-Annual-Report.pdf

https://tlouenergy.com/wp-content/uploads/2022/04/2016-TE-Annual-Report.pdf

https://tlouenergy.com/wp-content/uploads/2022/04/2015-TE-Annual-Report.pdf

https://tlouenergy.com/wp-content/uploads/2022/04/2014-TE-Annual-Report.pdf

https://tlouenergy.com/wp-content/uploads/2022/04/2013-TE-Annual-Report.pdf

https://tlouenergy.com/wp-content/uploads/2022/04/2012-TE-Annual-Report.pdf

https://tlouenergy.com/wp-content/uploads/2022/04/2011-TE-Annual-Report.pdf

https://tlouenergy.com/wp-content/uploads/2022/04/2010-TE-Annual-Report.pdf

Not even my guru mentions Intellisense - never knew it is optional if it was turned on I guess?

Py will have worked out this a memo to myself , for when I forget what to do?

Why do I also like this post? It must have been Xmas cheer 😜😜

Also from HC , guess who this was addressed to?

"Key board warrior .. Now that is the Pot calling the kettle..

You’ve been a joke ever since you started posting on here!

With your so called local knowledge of the Botswana government it finances and its policies.

Why don’t you stick to the UK LSE boards where you can talk to the only other poster, a highly intelligent guy called Brad! "

"This message has been filtered, please adjust your filters to view" for every 3 in 5 posts is irritating.

We sould be able tocustomise it or not see anythig ,like HC does.

"The troll has sent yet another message that our filter has spared you from " would be more like it.

Why doesn't the troll stay on HC will all those posters who admire him?

Here is one post showing how much he is appreciated over there.

"The good news is at least that POMMIE formally known as “ Donkey”. Now going under the guise of GTP Is a very happy camper.

If only he had the intelligence of a AI bot he would have disappeared years ago. BUT ALAS he still around and revelling in the slow or no progress …with his I told you so chant. "

Don't agree Winni , I think he is Botswanan and thought he had some insider knowledge on Tlou having been associated with Kalahari Energy and/or Sekaname. He bought into Tlou when they entered ASX and the Botswana exchange! Which one I wonder?

6 years on , and they joined LSE in both senses, chat and exchange. Tidd appeared on here and Tlou took off!

Bots probably topped up near the peak of 17p in London. Did he move to the UK perhaps?

Most posters, on LSE chat, joined once Tlou got exposure over here and they bought in on the rise from perhaps 8p. The calor gas theme looked to be a couple of years away but everybody was behind Tlou.

Then the RFP fiasco stopped that completely. Calor Gas on trucks was replaced with Tlou going into CBM powered electricity , delivered direct to Serowe 100km away. Tlou moved from Selemo which was dewatered and flowing gas to Lesedi because royalties were due on profits from Selemo and it's terrain had broken a drill which is still there I think?

A much longer project was started but was unfinished when Covid struck. No income and production costs for years , nobody knew how many , but the share price suffered. The last placing which dangled cheap options at 4.4p for 2 years irrespective of the price in those two years was a complete wash-out!! Lockdowns should have finished us off but the Pension Fund and Dr. Campbell had underwritten that placing and caught a cold saving a total disaster. Many of us were chasing those options, and had committed , so it could have been worse for Tlou and the underwriters.

TG then ky-boshed the whole story by having a secret discounted deal with only top British shareholders at 3.5p and the 5.6p? price tag dropped to 3.5p and long term holders outside of the "special ones" have not dug deep ever since.

The plan is still the same , but funding is really out of the question at half a penny. The solution was found in the shape of Kala. Were they the driving force for a partnership , or did they reluctantly accept a deal brokered by Tlou?

I believed the former but the lack of news from Kala is deafening along with all the other senses being retrograded. If funding is not announced soon it looks a bit bleak, to say the least.

Winni , why don't you filter him?

Your response makes inquisitive minds wonder what he said, whereas I merely assume he is telling me how stupid I am , a back handed compliment if ever there was one, or telling us some fact that nobody will ever check out because it is irrelevant to TLOU.

If today's message is anti-subject, we'll get another that says the total opposite tomorrow if it suits his onslaught on the country, company or a person. He never justifies his reasoning because he is scared of recriminations. I pi55 him off because I consistently back the decisions made on our behalf by Tlou.

They do not keep us well informed , it is true. And neither would I , given the reaction they get on here, and how excellent news is nearly always greeted with lower share prices. The big ones follow disasters tht could not be foreseen , civil servants cut and paste errors in the RFP, Covid , lockdowns , all slowing progress by YEARS. Leaving London LSE , was self inflicted but the main reason will be revealed one day. It could be the costs nd nothing more. But Kala have rewarded us with the partnership agreement I could only dream of.

Complying with three stock exchanges across the globe , with conflicting share prices was anything but ideal for them. I wonder where Kala will be based if they go public. The American dollar is more attractive than sterling or AUD or Pulas , I imagine. Once Trump is out of the way will the US regain it's reputation?

His female ally from years ago, who has defected, said the US is 40 trillion dollars in debt. A mind blowing amount. Puts the number of millions Tlou need to fulfill their goals in the piggy bank end of finance.

I bet the yanks wish they had that 40 trillion with a body who'd repay it from their profits , interest free , over as many centuries as it takes!

Just delete Linkedin pop ups and the video will play , full screen tidies it up.

The guy is a genius at conciseness, MFM will like him too if he sees him in action.

Https://rw.linkedin.com/posts/chandeepchhabra_each-underscore-in-power-query-explained-activity-6988479485184487425-Ayqm

This item shows how your mind has to work to work with the Power Query M language.

He is a superstar in his field and was made redundant in 2013 by the Indian bank that employed him in an Excel team that fell out of favour when their profit making dropped. Many thanks to that bank because he his self-employed role is a blessing to people like me, working alone with nobody to bounce ideas off.

Chandeep Chhabra , trading a Goodly , a one man band impressed me inside a couple of minutes but went on from there! He exudes handy tips without trying and gets to the nitty gritty that a programmer needs! Other experts have you puzzling over the contents of huge spreadsheets that are of no interest whatsoever and don't relate to what you want explained!

I had no hope of mastering Power Query because I thought a single column table was a list!

From there I did not stand a chance of writing M code!

I have bought an e-book from him as a thank you $24 or £18 odd which I hope contains the basics on things like lists {} each and _ which I defy anybody to understand intuitively without help. My memory is beyond remembering everything/anything he shows us - but his 248 page book will help.

Tlou and Kala are easy to understand in comparison and are very memorable.

Kala has the whole infrastructure they need at Lesedi that has saved them millios of pounds and time to set up and administer. They will used that money to fund Tlou and share their substantial profits with Tlou to reduce Tlou's debts. Dewatering is aproblem , timewise , so both companies will use that delay on Solar Power to ensure earnings are ongoing. Meanwhile dewatering #4 and #6 continues and new wells will be introduced using the latest techniques for efficiency. Once gas flows are commercial , Kala will use the gas, and hand over their Solar power and periphery to Tlou for their PPA supply.

An unfortunate time to drop an "o" in "encountered" ?

there ust be at least other surely?

i am bedevilled by lists, texts , records , tables etc etc.

ai does not explain them nor anything else i have en****ered until now!

i am only a few minutes into this video - but this guy is so impressive that i thought i'd pass him on because he is the best teacher i have seen in my life.

https://www.youtube.com/watch?v=90atxauhbec

Daily Extreme Octordle #1550

7️⃣6️⃣

🕛9️⃣

🔟3️⃣

🟥🕚

Score: 71

poppy

Half year report from Colm sounded like the end of the world to all of us. TG was always inclined to be too honest too - and they were morally bound to tell us abut the risks of investing in TLOU.

Pep Guardiola no doubt warns City players to not be complacent against lower clubs but surely expects to win most games. Colm chose to be more optimistic at year end unlike most shareholders on here. MFM sincerely suggests I join the majority but I think all of you who think like that will have egg on your faces once the next chapter is revealed. #4 and #6 are both going into producing Data Centre power. It makes sense to me - 2 generators - one well each? The partnership could then make the PPA for one 5MW solar farm on the way to 10MW and maybe 25MW if batteries are approved , or compressing Gas during Solar timetable - to be used when Solar is not producing power.

My link was in error btw - I targetted Tables 5,6 and 7 yw of which were identical. CEO plans were in Table 138 from page 62. Unfortunately I tried to use the page number as the table no. and dropped the 2 from 62 to get 6 which looked sensible until I twigged.

Power Query pre-compiler is so bad it is difficult to get an error from it.

Bedtime after Cherries retained their unbeaten run. Robbed by VAR who turned a 3-1 victory into a 2-2 draw in the 97th minute of a 96 minute match. Obstructing our keeper was allowed by VAR, but an offside elbow was enough to disallow a goal everyone thought was ok until VAR stuck their nose in!

This is what I want to achieve with Power Query. The content is from there automatically but in 4 separate files.

I moved into the spreadsheet manually though.

There are 3 views of the status quo in an Annual Account , and I have extracted the bits I think are important.

There seems to be harmony between the directors despite the polarity between our views on them.

Solar is coming in the short term for sure. Ask yourself which version of Tlou you'd invest in if they were starting up in 2026? PPA's with BPC , or AI with Kala?

I know which one I'd fancy - but we have both! I am over the moon without Artemis!

https://drive.google.com/file/d/1_y8d5jqYP6ghHJUSQH-hhcprCjwiVJaq/view?usp=sharing

MFM, you asked when I expect a funding loan from Kala to Tlou was going to be?

It all comes down to straightforward logic, so nobody can say it was a pure fluke if it happens.

1. Tlou spent $6M at the end of 2025 - clearly expecting replenishement ofthose funds long before now - Dec/Jan maybe.

2. That was based on genertors arriving in Aug/Sept!

3. They arrived Dec 9th - 4 months late.

4. Kala have installed one or both already - Data Centre is on track - so funding should be be 4 months late.

5. So April or May depending what Kaka led Tlou to believe about item 1 - Dec or Jan?

It is hardly rocket science , but will Kala have a reason to renege on funding? No chance imho.

We need them, and vice versa .