Request for Proposal Submission Date Extended

RNS Number : 8450O

Tlou Energy Ltd

24 August 2017

 

24 August 2017

Tlou Energy Limited

("Tlou" or "the Company")

Request for Proposal Submission Date Extended

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 been informed, subsequent to its announcement of 21 August 2017,  that the submission date for lodgement of responses 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 has been extended from 23 August 2017 to 20 September 2017.

Request for Proposal for CBM Power Project

Earlier this year, the Company was one of two group that received a detailed Request for Proposal from the Ministry for the development of up to 100MW of CBM fuelled pilot power plants in Botswana.  The RFP submissions will be assessed based on considerations including, eligibility, technical and funding criteria.

Whilst this new submission date will put back the evaluation of bids, Tlou Energy is encouraged by the fact that the Ministry takes the bid process very seriously and that in light of the fact that CBM is a new industry, they have decided to give bidders the maximum time possible to submit proposals.

With work on the submission documentation complete, the Company plans to submit its detailed response to the RFP no later than 20 September 2017 and will now focus on other tasks, including the upcoming seismic survey across the Lesedi and Mamba licences and planning of additional core wells thereafter.

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 imported power.

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 ~8,300Km² in total, 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.

 

END

 

 

MSCPIMITMBMTMIR