Petroleum Africa
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Monday, May 1, 2017
Tlou Energy plans to use recently raised capital to work on its CBM project in Botswana. The company plans to acquire and interpret new 2D seismic data in areas considered to be highly prospective for additional reserves by Tlou’s reserve certifiers.
The company will also drill a limited number of vertical (cored) wells along the new seismic lines (with geophysical logging and coal core gas sampling) to a depth of approximately 500 meters. Various studies will also be completed that are required for the submission of the mining license application and tender for the Botswana government’s 100 MW CBM pilot project.
The funds will also be used for on-going production testing at Selemo, including installing gas engines to run the pumps on the existing wells and working capital for its Lesedi CBM project.
The objective of the work program above is to expand the company’s independently certified gas reserves and complete the licensing requirements for the Lesedi CBM Project, as well as continuing to progress the RFP with our joint venture partner, Independent Power Corp. for the proposed up to 100 MW CBM to power project utilizing the company’s gas reserves.
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