22nd Aug 2019 14:02
(Alliance News) - Tlou Energy Ltd on Thursday said sustained gas flow rates have been achieved at the Lasedi 3 and Lasedi 4 production pods in Botswana.
The pods at Tlou's Lasedi coal bed methane project both achieved an initial sustained gas flow of around 20,000 cubic feet per day, which is expected to rise steadily toward a peak and commercial flow rate.
Water rates in the pods are declining and the company said it is "very encouraged by production data and well performance to date", with more updates planned "in due course".
Tlou said it has a forward plan which is aiming to finalise a power purchase agreement and development financing in 2019, followed by " first electricity sales potentially in the fourth quarter of next year".
Shares in Tlou were flat at 4.80 pence in London on Thursday afternoon.
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