Tlou Expands CBM Survey in Botswana
Australia and AIM-listed explorer Tlou Energy has provided an update on its coalbed methane (CBM) prospects in landlocked Botswana.
It said a seismic survey completed across the Lesedi and Mamba project areas in Botswana had yielded data of excellent quality which was now being analysed. Two new core-holes drilled at the main Lesedi project intersected gassy coals with core samples being analysed, and initial results are expected early 2018, Tlou said January 23. Operations on a third core-hole at the Mamba project began late 4Q 2017 with completion due late January 2018, it added; this is the first core to be drilled on Mamba.
Tlou said it plans to start initial project development of its Lesedi CBM project in 2018, subject to the results of its application to the government to develop an up-to-100MW of CBM-fuelled power plant.
"In the event of a gas field development by Tlou, the Mamba area provides the company with considerable flexibility and optionality," said Tlou, adding that Mamba comprises five coal and CBM prospecting licences covering 4,500km2. It said its Lesedi Project already has independently certified contingent gas resources of some 3.2 trillion ft3 (3C) and independently certified gas reserves of 261bn ft3 (3P).
Tlou also announced it has completed its listing on the Botswana Stock Exchange as part of its strategy to tap into significant local investors, and had already raised some £2.4mn by issuing shares to African Alliance Botswana, a leading asset manager in the country. Tlou is not the only small explorer eyeing CBM in Botswana: Strata-X is seeking full control of a less-advanced project there.