Tlou Energy Ltd Results of AGM, Chairman's Address, Field visit (1953Q)
17 Ottobre 2019 - 8:00AM
UK Regulatory
TIDMTLOU
RNS Number : 1953Q
Tlou Energy Ltd
17 October 2019
17 October 2019
Tlou Energy Limited
("Tlou" or "the Company")
Results of AGM, Chairman's Address, Field visit
Tlou Energy Limited, the ASX, AIM and BSE listed company focused
on developing gas-to-power projects in southern Africa using coal
bed methane ("CBM") natural gas from its gas field in Botswana,
wishes to advise that, at the Annual General Meeting held earlier
today, all resolutions were duly passed.
The Chairman's Statement, given by Tlou Chairman Martin McIver,
is set out below.
Chairman's address - AGM
It gives me great pleasure to deliver the Chairman's address at
Tlou's sixth AGM as a listed entity.
The past year has been an exciting one for Tlou, with the
company hitting a number of significant milestones which will help
us reach our future goal of being the first CBM project in Botswana
to move into production.
Tlou's primary focus over the years has been on developing the
Botswana Lesedi CBM initial pilot project including completing two
new pilot production pods Lesedi 3 and 4. These new gas production
pods were drilled and completed earlier this year and are situated
close to Tlou's proposed central processing facility to optimize
future development activities.
The Lesedi gas production pods have now started producing
sustained gas, with both pods and we are encouraged with the result
to date. In addition to the production testing, we have been
working on the next steps in the Lesedi CBM project's development
plan, including further exploration work in the Mamba project area,
completing detailed design of the central processing facility and
surveying of the transmission line route. We remain committed to
building shareholder wealth through progressing the Lesedi CBM
project towards production while continuing to develop at low cost
the Mamba and Boomslang Project areas.
Tlou is excited by the development of a CBM gas industry in
Botswana. The establishment of this industry will not only help the
country manage the current energy shortage it faces but will also
provide a new industry, and associated employment. CBM will create
an alternative and cleaner energy source for the country and its
citizens.
Finally, and most importantly, I would like to take this
opportunity to recognise the continuing support of our
shareholders, without whom our project would not be possible.
Thank you,
Martin McIver
AGM Presentation
A presentation given by Tlou Managing Director, Anthony Gilby,
is available on the Company's website
http://tlouenergy.com/presentations
Botswana Information evening and field visit
The Company is hosting a dinner in Gaborone, Botswana later this
month to provide an update to invited guests, including local
shareholders, potential investors, financiers, local officials,
media outlets and other stakeholders.
In addition, a number of potential investors will visit Tlou's
field operations including the field camp, the location of the
central processing facility, along with the gas producing Lesedi 3
and 4 development wells.
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
****
For further information regarding this announcement please
contact:
Tlou Energy Limited +61 7 3012 9793
Tony Gilby, Managing Director
----------------------
Solomon Rowland, General Manager
----------------------
Grant Thornton (Nominated Adviser) +44 (0)20 7383 5100
----------------------
Samantha Harrison, Colin Aaronson, Harrison
Clarke, Seamus Fricker
----------------------
Shore Capital (Broker) +44 (0) 207 408 4090
----------------------
Jerry Keen, Toby Gibbs, Mark Percy
----------------------
+44 (0) 7891 677
FlowComms Limited (Investor Relations) 441
----------------------
Sasha Sethi
----------------------
Vigo Communications (Financial PR) +44 (0) 20 7390 0230
----------------------
Patrick d'Ancona, Simon Woods
----------------------
Company Information
Tlou Energy is focused on delivering Gas-to-Power solutions in
Botswana and southern Africa to alleviate some of the chronic power
shortage in the region. Tlou is developing projects using coal bed
methane (CBM) natural gas. Botswana has a significant energy
shortage and generally relies on imported power and diesel
generation to fulfil its power requirements. As 100% owner of the
most advanced gas project in the country, the Lesedi CBM Project,
Tlou Energy provides investors with access to a compelling
opportunity using domestic gas to produce power and displace
expensive diesel and imported electricity.
The Company is listed on the Australian Securities Exchange,
London's AIM market and the Botswana Stock Exchange and is led by
an experienced Board, management and advisory team including
individuals with successful track records in the CBM industry.
Since establishment, the Company has significantly de-risked the
project in consideration of its goal to become a significant
gas-to-power producer. The Company flared its first gas in 2014 and
has a 100% interest over its Mining Licence and ten Prospecting
Licences covering an area of 9,300 Km(2) in total. The Lesedi and
Mamba Projects already benefit from significant independently
certified 2P gas Reserves of 41 BCF. In addition, 3P gas Reserves
of 427 BCF and Contingent Gas Resources of 3,043 BCF provide
significant additional potential.
The Company is planning an initial scalable gas-to-power
project. Following successful implementation of this first scalable
project, the Company looks forward to evaluating longer-term
prospects for the delivery of electricity generated from CBM in
Botswana to neighbouring countries.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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