Tlou’s principal assets are in Botswana, where it has the one of the most advanced CBM projects in southern Africa. Tlou’s 100% owned Lesedi CBM project has an independently certified contingent resource of up to 3.2 trillion cubic feet (3C) with a further prospective resource totalling 8.6 trillion cubic feet (High Estimate). Tlou is the first company in Botswana to have certified CBM gas reserves.
Botswana and other southern African countries are currently experiencing electricity supply deficits. Tlou believes the electricity market represents an attractive commercialisation path for the Company’s CBM.
The Company holds 10 Prospecting Licences covering an area of ~8,300Km2 and the Lesedi Project already benefits from significant, independently certified Contingent Gas Resources of ~3.2 trillion cubic feet (3C) and independently certified Gas Reserves.
Botswana’s Department of Environmental Affairs has approved the Environmental Impact Statement (‘EIS’) submitted by the Company in December 2015 for Lesedi. The EIS is a prerequisite for the Mining Licence which, when granted, would provide security of tenure over the licences. Environmentally there is a need in Botswana for the development of a relatively clean, low carbon energy source to replace the use of diesel in the production of electricity.
Tlou received a request for proposal (‘RFP’) from the Botswanan Government to provide up to 100MW of CBM power from its Lesedi project. Independent Power Corporation PLC (‘IPC’) has been selected by Tlou to partner with the Company for submission of the RFP and development of the Project.
The Company is led by an experienced Board, management and advisory team, some of whom have a very successful record in the CBM industry in Australia. Tlou is positioned to capitalise on a first mover advantage in the southern African onshore gas industry.
Tlou Energy will consider new opportunities across the southern Africa region but remains focussed on Botswana for the foreseeable future.