Tender Submission Closing Date confirmed

RNS Number : 0312L

Tlou Energy Ltd

13 July 2017

 

13 July 2017

Tlou Energy Limited

("Tlou" or "the Company")

Tender Submission Closing Date confirmed

Tlou Energy Limited, the AIM and ASX listed company focused on delivering power in Botswana and southern Africa through the development of coal bed methane ("CBM"), has received confirmation from Botswana's Department of Mines in the Ministry of Mineral Resources, Green Technology and Energy Security ("the Ministry"), that the closing date for the receipt of tender offers for the Ministry's Request for Proposal ("RFP") for the development of up to 100MW of CBM fuelled pilot power plants has been extended to 23 August 2017.

Request for Proposal for CBM Power Project

Tlou received the RFP from the Government of Botswana for the development of up to 100MW of power using CBM in January 2017.  The proposal, which will include a power purchase agreement, will assist in the development of a CBM gas industry in the country and create a new market for Tlou's independently-certified gas reserves and significant contingent gas resources of ~3.2 trillion cubic feet (3C).  The RFP requires details of the proposed field development, the installation of power generation facilities and supply of power into the grid in Botswana.

The RFP originally outlined a closing date on 12 July 2017 which has now been extended by the Ministry to 23 August 2017 as some of the supporting documentation to be published by the Ministry has not yet been released.

For further information regarding this announcement please contact:

Tlou Energy Limited	[phone]
Tony Gilby, Managing Director
Solomon Rowland, Company Secretary
Grant Thornton (Nominated Adviser)	[phone]
Samantha Harrison, Colin Aaronson, Harrison Clarke
Shore Capital (Joint Broker)	[phone]
Jerry Keen, Mark Percy, Toby Gibbs
Optiva Securities Limited (Joint Broker)	[phone]
Jeremy King, Christian Dennis
St Brides Partners Limited (Public Relations)	[phone]
Lottie Brocklehurst, Megan Dennison
FlowComms Limited (Investor Relations)	[phone]
Sasha Sethi

Company Information

Tlou Energy is an AIM and ASX listed company focused on delivering power in Botswana through the development of coal bed methane ('CBM') gas.  Botswana has a severe energy shortage and is currently relying on expensive imported power and diesel generation to deliver its requirements.  However, as the 100% owners of the most advanced gas project in the country, the Lesedi CBM Project, Tlou Energy provides investors with access to a compelling immediate and longer-term opportunity using domestic gas to produce power and displace expensive diesel and import power market.

The Company is led by an experienced Board, management and advisory team including individuals with successful track records in the Australian CBM industry.

Since establishment in 2009, the Company has significantly de-risked the project in consideration of its goal to become a significant gas to power producer.  The Company has the most advanced CBM project in Botswana and flared its first gas in 2014.  It holds 10 Prospecting Licences covering an area of ~8,300Km² and the Lesedi Project already benefits from significant independently certified Contingent Gas Resources of ~3.2 trillion cubic feet (3C) and independently certified Gas Reserves.

The Company is planning an initial scalable gas-to-power project in Botswana.  Following successful implementation of this first scalable project, the Company plans to expand to provide further power to Botswana and the southern African region.

 

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