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New Prospecting Licence Area

Source: www.gulfoilandgas.com 4/1/2019, Location: Africa

Tlou Energy Limited, the ASX, AIM and BSE listed company focused on delivering power in Botswana and southern Africa through the development of coal bed methane ("CBM") is pleased to confirm that a new prospecting licence has been issued to the Company by the Government of Botswana.

Highlights
-The new licence, designated "Boomslang" is located on-trend with the Lesedi CBM Project, where independently certified gas reserves are already in place;
- The Boomslang area is considered highly prospective and provides significant potential development flexibility;
- The licence covers ~1,000 Km2, bringing the total licence area held by the Company to ~9,300 Km2.

New CBM Prospecting Licence awarded

The Company has been awarded a new coal bed methane prospecting licence by the Department of Mines at the Ministry of Mineral Resources, Green Technology and Energy Security in Botswana. The new licence, PL011/2019 designated "Boomslang" is valid for an initial term of 3 years. The licence area is approximately 1,000 Km2 and is situated adjacent to the Company's existing licences. The Boomslang area is located on-trend with the encouraging results observed to date at the Lesedi project and is considered to be highly prospective.

With initial development operations ongoing at the Lesedi gas field, the award of the adjacent Boomslang area along with the Mamba area provides the Company with further flexibility and optionality.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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