ASX Trading Halt

RNS Number : 3350I

Tlou Energy Ltd

30 August 2016

 

30 August 2016

Tlou Energy Limited

("Tlou" or "the Company")

ASX Trading Halt

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') projects, advises that trading in the shares of the Company was halted on the Australian Securities Exchange ("ASX") on Monday 29 August 2016. The halt was requested by the Company pending an announcement regarding a proposed capital raising via a placement to sophisticated and professional investors under section 708 of the Australian Corporations Act 2001 (Cth).

The trading halt will remain until the earlier of an announcement to the market regarding the above or the commencement of normal trading on the ASX on Wednesday 31 August 2016.

Trading in the Company's ordinary securities will continue on AIM during this period.

For further information regarding this announcement please contact:

Tlou Energy Limited	[phone]
Gabaake Gabaake, Acting Managing Director
Solomon Rowland, Company Secretary
Grant Thornton (Nominated Adviser)	[phone]
Jen Clarke, Colin Aaronson, Harrison Clarke
Brandon Hill Capital (Financial Adviser and Joint broker)	[phone]
Jonathan Evans, Alex Walker
Optiva Securities Limited (Joint broker)	[phone]
Jeremy King, Christian Dennis
St Brides Partners Limited (Public relations)
Elisabeth Cowell, Lottie Brocklehurst	[phone]

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') projects.  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 ('Lesedi'), Tlou Energy provides investors with access to a compelling immediate and longer term opportunity using domestic gas to produce power and displace the expensive diesel and import 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 with gas flaring at its Selemo wells.  It holds 10 prospecting licences covering an area of ~8,300Km² and the Lesedi project already benefits from significant, independently certified contingent resources of ~3.3 trillion cubic feet (TCF) (3C).  Following completion of the current gas flow tests at Selemo the Company is looking to book certified gas reserves, thereby becoming the first company in Botswana to do so. 

The first planned gas-to-power solution is expected to be delivered through a scalable project with the Botswana Government.  Following successful implementation of this project the Company plans larger projects to provide further power to Botswana and the southern African region.

 

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