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Lesedi 6 Production Well Drilling

13 Apr 2023 07:09

RNS Number : 0961W
Tlou Energy Ltd
13 April 2023
 

 

 

13 April 2023

 

Tlou Energy Limited

("Tlou" or "the Company")

 

Lesedi 6 Production Well Drilling

 

 

The Company is pleased to announce that work has begun on the next phase of drilling at Tlou's Lesedi Gas-to-Power project.

 

The Lesedi 6 gas production pod spudded on 10 April 2023 and is at a depth of approximately 59m.

 

The pod will comprise one vertical production well intersected by two lateral wells drilled horizontally through the target reservoir section for several hundred metres.

 

The objective of the pod is to increase the volume of gas available to the Company for power generation. Lesedi 6 is located to the southwest and parallel to the existing Lesedi 4 gas production pod which has been producing gas for some time.

 

Once Lesedi 6 is drilled and completed, dewatering will commence and thereafter the well will start to establish an indicative gas flow rate.

 

Lesedi 6 is the first well of a proposed drilling program to expand gas production at the Lesedi project. Gas flows from Lesedi 6 are planned to be converted to electricity for the existing 10MW Power Purchase Agreement (PPA) with Botswana Power Corporation (BPC) once the transmission line, substations and associated electrical infrastructure are in place.

 

By Authority of the Board of Directors

Mr. Anthony Gilby

Managing Director

 

****

 

For further information regarding this announcement please contact:

 

Tlou Energy Limited

+61 7 3040 9084

Tony Gilby, Managing Director

 

Solomon Rowland, General Manager

 

 

 

Grant Thornton (Nominated Adviser)

+44 (0)20 7383 5100

Harrison Clarke, Colin Aaronson, Ciara Donnelly

 

 

 

Zeus Capital (UK Broker)

+44 (0)20 3829 5000

Simon Johnson

Public Relations

Ashley Seller

+61 418 556 875

 

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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
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