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”) said three of its key prospecting licences have been successfully renewed for a further two-year term.
The Lesedi project consists of five CBM prospecting licences in Botswana covering an area of approximately 3,800km2. These licences are currently the focal point for the Company’s operations and include the Selemo project area where the company has been producing gas for an extended period.
Renewal applications for three key prospecting licences (PL 001, 002, 003/2004) were submitted to Botswana’s Ministry of Minerals, Energy and Water Resources (“MMEWR”) in December 2016. MMEWR has confirmed that these licences have been renewed for a further two-year term to 31 March 2019. The area covered by these licences is of significant importance to Tlou and subject to results of the ongoing field operations the Company may convert part of these prospecting licence areas to a Mining Licence during the term of the current renewal period. A Mining Licence is required prior to the commencement of full field development.
|PL 001/2004||March 2019||Current|
|PL 002/2004||March 2019||Current|
|PL 003/2004||March 2019||Current|
|PL 035/2000||September 2018||Current|
|PL 037/2000||September 2018||Current|