Tlou Energy Ltd Tender Technical Stage Decision Approved (6674S)
March 13 2019 - 2:01AM
UK Regulatory
TIDMTLOU
RNS Number : 6674S
Tlou Energy Ltd
13 March 2019
13 March 2019
Tlou Energy Limited
("Tlou" or "the Company")
Tender Technical Stage Decision Approved
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') has received confirmation
that the technical stage of the Request for Proposal (RFP) for
Development of CBM fuelled power plants in Botswana has been
passed.
Accordingly, the Botswana Public Procurement and Asset Disposal
Board ("PPADB") has approved the request from Ministry of Mineral
Resources, Green Technology and Energy Security (MMGE) to open the
financial proposal in relation to the Company's gas to power
tender.
RFP update
On 10 October 2018 the Company submitted its comprehensive
response to the RFP for the Development of a Maximum of 100 MW of
Coal Bed Methane Fuelled Power Plants in Botswana.
The 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. If the
proposal and the initial project are successful, the Company would
look to expand further
Tlou has now received confirmation of the PPADB decision to
approve the Ministry's request to open the Financial Proposal in
respect of Tlou Energy Limited and Sekaname (Pty) Ltd which both
submitted proposals for the 100 MW project and which achieved
technical scores of 89.8% and 86.4% respectively in the tender.
The Company looks forward to a positive decision on its
Financial Proposal (the final stage of the RFP process) in due
course.
****
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
----------------------
FlowComms Limited (Investor Relations) +44 (0) 7891 677 441
----------------------
Sasha Sethi
----------------------
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 power.
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 in a Mining Licence and nine Prospecting
Licences covering an area of 8,300 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 3,044 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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