Tlou Energy Ltd (AIM:ASX:TLOU) Operations Update

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”), is pleased to provide an update on the progress of the 2D seismic program and core-hole drilling operations at its Lesedi and Mamba CBM projects in Botswana.

 

Highlights

Ø Seismic survey field acquisition completed with data processing ongoing

Ø Core-hole drilling operations are underway at the Lesedi and Mamba projects

Ø One core-hole has been completed with core samples sent for analysis

Ø Objective to identify further gas reserves and contingent resources and determine optimum location for first phase development wells in 2018

 

Tlou’s Managing Director Tony Gilby said, “This new seismic data appears to be excellent quality and has the potential to guide us towards the delineation of further gas reserves and contingent resources and enable us to determine the optimum location for the first phase development wells planned for 2018.  Velseis, our seismic consultant, is processing the remaining lines and the final data set will be supplied to SRK, Tlou’s geological consultants, for interpretation and we will provide further updates regarding this in Q1 2018.”

 

Seismic Survey

The seismic survey covered ~250km of the Lesedi and Mamba projects including part of the Mining Licence area.  It was conducted by Velseis Pty Ltd (“Velseis”), an experienced Australian seismic acquisition and processing company that provides a fully integrated range of seismic services.

 

The field acquisition phase was completed last week with data processing now in progress.  The new seismic data is of excellent quality and will serve to provide a more accurate picture of the subsurface target coal horizon.  

SRK Consulting (Australasia) Pty Ltd (“SRK”), Tlou’s geological consultants and independent reserve certifiers, will carry out the seismic interpretation.  This will include integration of the new seismic data with existing well and aeromagnetic data sets.  A report will then follow which is anticipated in early Q1 2018.

 

Core-hole operations

Drilling of core-holes is well advanced in the field with three new core-holes to be completed using two drilling rigs.  Drilling is steadily progressing with the first core-hole already complete and a number of coal samples taken from the target coal seam and sent for gas analysis.

 

The core-holes are designed to provide additional data along with the seismic survey, to assist with enhancing the Company’s gas reserve and contingent resource certification.  The core-hole information will also be used to plan the first phase of development drilling planned for 2018.

 




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Share Talk Investor Show - September 27th August 2019

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