Tlou Energy Announces Final Results

Source: www.gulfoilandgas.com 9/20/2022, Location: Africa

Tlou Energy Limited is pleased to announce its 2022 results. The Annual Report and Consolidated Financial Statements for the year ended 30 June 2022 are available on the Company's website: https://tlouenergy.com/reports

Highlights:
· Power Purchase Agreement signed with Botswana Power Corporation - the first of its kind in Botswana
· Commencement of construction of the transmission line to connect Tlou's Lesedi gas-to-power project to the electricity gid
· Work underway on a new operations base including accommodation and associated infrastructure for the first phase of development and further expansion
· Progress on development of a hydrogen and solid carbon project to complement the gas-to-power project
· US$5m raised via a convertible note with Tlou's largest and supportive shareholder, Botswana Public Officers Pension Fund
· Further gas production from the Lesedi 3 and Lesedi 4 production wells

Tlou's Managing Director, Mr Tony Gilby commented, "The past year has seen the Company achieve some very significant targets. Signing the PPA and being the first Independent Power Producer (IPP) in Botswana to do so was a major accomplishment. Starting work on the transmission line grid connection was another notable success and we are grateful for the continued support of BPOPF. We look forward to the next steps in development of our gas-to-power project and achieving first revenue which is now firmly within our grasp."


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