Tlou Energy Ltd Response to Government Request for Proposal Submit (2979R)
September 20 2017 - 5:30AM
UK Regulatory
TIDMTLOU
RNS Number : 2979R
Tlou Energy Ltd
20 September 2017
20 September 2017
Tlou Energy Limited
("Tlou" or "the Company")
Response to Government Request for Proposal Submitted
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 submitted its response
to the Request for Proposal ("RFP") from Botswana's Ministry of
Mineral Resources, Green Technology and Energy Security ("the
Ministry") for the development of up to 100MW of CBM fuelled pilot
power plants in Botswana.
Key points
Ø Tlou's proposal was submitted as planned prior to the deadline
of 20 September 2017, and was accepted by the Ministry;
Ø The proposal involves the development of CBM Gas to Power in
an incremental manner;
Ø The submission will be assessed based on eligibility,
technical and funding criteria;
Ø Tlou is one of two companies who submitted a response to the
RFP;
Ø An indicative date for receipt of a response on whether the
proposal has been successful or unsuccessful is not yet known;
Ø Mamba Prospecting Licences renewed.
Tlou's Managing Director Tony Gilby said, "Preparation and
submission of documentation for the response to the government's
request has been a mammoth task, taking many months to complete.
The submission has described Tlou's planned project in detail as
well as outlining the benefits the project can bring to Botswana
both directly and indirectly. With CBM gas reserves, from which we
are currently generating power in the field, upstream environmental
approval and a mining licence in place, I believe Tlou is well
placed, as the leading CBM company in the country, to be able to
deliver the project outlined in the submission and I look forward
to working with the Government to make it happen.
I would like to thank all our staff and consultants who have
performed so diligently on this project over the past number of
months for their time and commitment."
Request for Proposal for CBM Power Project
Earlier this year, the Company received a detailed Request for
Proposal from the Ministry for the development of up to 100MW of
CBM fuelled pilot power plants in Botswana. This proposal assists
in the development of a CBM gas industry in the country and can
create a new market for Tlou's independently-certified gas reserves
and significant contingent gas resources of 3.2 trillion cubic feet
(3C). The submission to the RFP will be assessed based on
conditions including, eligibility, technical and funding criteria.
The Tlou submission outlined a staged development commencing with
up to 10MW of generation as well as outlining project feasibility,
proposed field development, installation of power generation
facilities and supply of power into the grid in Botswana as well as
operating and managing the project.
If Tlou's submission response is successful, this will provide
an ideal pathway towards a power purchase agreement. Once an
initial development is completed, Tlou Energy's gas field will be
connected to the regional grid, thereby opening the possibility for
the Company to provide power across the southern African region,
via the Southern African Power Pool. No indication has yet been
received regarding when a decision will be made on whether the
submission has been successful or not.
Update on Mamba Permits
The Mamba project consists of five CBM prospecting licences in
Botswana covering an area of approximately 4,500km(2) . The Mamba
area is considered to be highly prospective being situated adjacent
to Tlou's Lesedi CBM Project and being on-trend with the
encouraging results observed at Lesedi to date. In the event of a
gas field development by Tlou, the Mamba area provides the Company
with considerable flexibility and optionality.
Renewal applications were submitted for the Mamba licences in
March 2017. The Company has received confirmation that the renewal
applications for all five prospecting licences has been successful
and have been renewed up to 30 June 2019.
For further information regarding this announcement please
contact:
Tlou Energy Limited +61 7 3012 9793
------------------------------------ ---------------------
Tony Gilby, Managing Director
------------------------------------ ---------------------
Solomon Rowland, Company Secretary
------------------------------------ ---------------------
Grant Thornton (Nominated
Adviser) +44 (0)20 7383 5100
------------------------------------ ---------------------
Samantha Harrison, Colin Aaronson,
Harrison Clarke
------------------------------------ ---------------------
+44 (0) 207 408
Shore Capital (Joint Broker) 4090
------------------------------------ ---------------------
Jerry Keen, Mark Percy, Toby
Gibbs
------------------------------------ ---------------------
Optiva Securities Limited
(Joint Broker) +44 (0)20 3137 1904
------------------------------------ ---------------------
Jeremy King, Christian Dennis
------------------------------------ ---------------------
St Brides Partners Limited +44 (0) 20 7236
(Public Relations) 1177
------------------------------------ ---------------------
Lottie Brocklehurst, Megan
Dennison, Susie Geliher
------------------------------------ ---------------------
FlowComms Limited (Investor +44 (0) 7891 677
Relations) 441
------------------------------------ ---------------------
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. 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 imported electricity.
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 a Mining Licence and nine Prospecting Licences, covering
an area of 8,300Km(2) in total. 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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