Continental Focus, International Reach

Lesedi CBM Project Achieves Initial Independent Gas Reserve Certification

Sunday, October 16, 2016

Tlou Energy has received an initial Independent Reserve Certification from SRK Consulting for its Lesedi CBM Porject in Botswana on PL002/2004. According to company executive director Gabaake Gabaake the inistial reserve certification is a major milestone and “demonstrates the commerciality of the Lesedi CBM Project.  As the first in Botswana to attain independently certified CBM reserves we are in a very strong position to progress the project further for the benefit of our shareholders and to bring a much needed and clean source of power to the people of Botswana.”

The company’s plan is to continue to build reserves and upgrade the category of these reserves as further production data from Lesedi is collected.  The initial reserves assessment is based on the production data obtained to date from the three pilot production wells in the Selemo Pilot and extrapolating this production data over a potential field development at Selemo to support a 50 MW power generation project.

‘It is also pleasing to note that SRK has indicated in their independent reserves report that the produced gas from the Selemo Pilot is capable of supporting an economic development for the Lesedi Project. It has been a very important and successful period for the company over the past few months, with funding secured through the recent placement, our Environmental Impact Statement approved and now independently certified reserves booked. These are significant steps in our aim to become a mid-tier gas to power producer in southern Africa and I look forward to updating the market further as we build upon this success,” Gabaake said.