Tlou Energy progresses financing talks for Botswana power project

Mon, 20th Jan 2020

Tlou Energy said it had progressed financing talks for its 10 megawatt Lesedi gas-to-power project with the Botswana Development Corporation. The company said it had received an indicative non-binding term sheet, an initial proposal that formed that basis for further discussion. Talks were also taking part with other parties interested in funding the company though debt, equity and mezzanine finance, it added. Tlou Energy had previously announced initial gas flow rates of about 20m standard cubic feet per day from its Lesedi 3 and Lesedi 4 production pods. 'Since the initial rate announcement, gas flow rates have continued to fluctuate both up and down with periodic short-term rates observed which have been much higher than those initially announced,' it said. 'The company will not be in a position to announce an increased rate until such time that higher levels are sustained and confirmed by our advisors.' At 9:49am: (LON:TLOU) Tlou Energy Limited share price was -0.65p at 4.1p Story provided by StockMarketWire.com

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