Last checked at 27 Nov 2023 07:00
27 November 2023
Tlou Energy Limited
("Tlou" or "the Company")
First Gas Flow from Lesedi 6 Production Pod
Highlights
Ø First gas to surface from the recently drilled and completed Lesedi 6 pod
Ø This is the fastest time between starting dewatering and first gas in Lesedi to date
Ø Lesedi 4 pod is dewatering in line with expectations
Gas flowing at Lesedi
Gas has started to flow at the Lesedi 6 Production Pod and has been flared.
This follows the drilling of the new Lesedi 6 production pod and the redrill of the lateral sections of the Lesedi 4 production pod. Post drilling operations each pod was flushed to clear the wells. Production equipment was then installed and dewatering commenced in late October 2023.
In recent days Lesedi 6 experienced a rapid increase in casing pressure in both lateral wells with first gas production to surface occurring soon thereafter.
The rapid build-up of casing pressure and comparatively short time taken from commencement of dewatering to first gas to surface is very encouraging. It represents the fastest gas to surface in the Lesedi field to date.
The next step is to allow the gas flow rate to develop and obtain an initial sustained flow rate. The Company will continue production testing at both Lesedi 4 and Lesedi 6 and update the market in due course.
A short video of the gas flare is available on the following link: https://youtube.com/shorts/jzOjrA-xCrE
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The above schematic provides a visual representation of how Tlou's production pods have been drilled. This is indicative only and not to scale.
The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law by virtue of the European Union (withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
By Authority of the Board of Directors
Mr. Anthony Gilby
Managing Director
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For further information regarding this announcement please contact:
Tlou Energy Limited | +61 7 3040 9084 |
Tony Gilby, Managing Director |
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Solomon Rowland, General Manager |
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Grant Thornton (Nominated Adviser) | +44 (0)20 7383 5100 |
Harrison Clarke, Colin Aaronson, Ciara Donnelly |
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Zeus Capital (UK Broker) | +44 (0)20 3829 5000 |
Simon Johnson | |
Investor Relations | |
Ashley Seller (Australia) | +61 418 556 875 |
FlowComms Ltd - Sasha Sethi (UK) | +44 (0) 7891 677 441 |
About Tlou
Tlou is developing energy solutions in Sub-Saharan Africa through gas-fired power and ancillary projects. The Company is listed on the ASX (Australia), AIM (UK) and the BSE (Botswana). The Lesedi Gas-to-Power Project ("Lesedi") is 100% owned and is the Company's most advanced project. Tlou's competitive advantages include the ability to drill cost effectively for gas, operational experience and Lesedi's strategic location in relation to energy customers. All major government approvals have been achieved.
Forward-Looking Statements
This announcement may contain certain forward-looking statements. Actual results may differ materially from those projected or implied in any forward-looking statements. Such forward-looking information involves risks and uncertainties that could significantly affect expected results. No representation is made that any of those statements or forecasts will come to pass or that any forecast results will be achieved. You are cautioned not to place any reliance on such statements or forecasts. Those forward-looking and other statements speak only as at the date of this announcement. Save as required by any applicable law or regulation, Tlou Energy Limited undertakes no obligation to update any forward-looking statements.