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Sunday, February 25, 2018
Tlou Energy saw a “very significant and material upgrade” of its 2P & 3P gas reserves on its coal bed methane (CBM) assets in Botswana. The reserves assessment was independently certified by Dr Bruce McConachie of SRK Consulting (Australasia) Pty Ltd (SRK).
According to SRK,Tlou saw its 2P (Proved and Probable) gas reserves increase 944% to 40.8 Bcf, from the previous 3.9 Bcf. The company’s 3P (Proved, Probably and Possible) gas reserves increased by 63% to 426.6 Bcf, previously 261.1 Bcf.
Tlou Managing Director Tony Gilby said,“This very significant upgrade in gas Reserves reinforces the commerciality of the Lesedi and Mamba Projects. The recent seismic survey and core-hole drilling campaign, along with the Selemo pilot wells producing sustained gas flows for a substantial period of time, confirms that there is huge gas production potential for Tlou’s area. Ongoing work to assess this potential continues in tandem with planning for connection to the regional power grid.
‘We believe that the Lesedi and Mamba projects represent a very valuable resource for Tlou’s shareholders. This reserves upgrade provides continued confidence for the company to invest in additional appraisal activities aimed at further increasing certified gas reserves. Adding reserves, and planning for grid connection, reinforces the company’s objective to become the first company to sell power generated by CBM gas in Botswana.”
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