Australia's Tlou Energy Raising Funds to Expand Botswana CBM Project

Australia based Tlou Energy has announced that it will be raising approximately A$13.4 million through share placement to fund operations in Karoo Central coal bed methane project in Botswana.

The Brisbane based firm plans an expanded pilot and core hole program at Karoo Central involving up to two core wells and two additional pilot pods.

Tlou Energy is a CBM and unconventional gas explorer with interests in Southern Africa.

Company's principle assets are in Botswana, which Tlou says is one of the most advanced CBM exploration projects in southern Africa.

Tlou's 100% owned Karoo Central project has an independently certified contingent resource of up to 2.3 trillion cubic feet (TCF) (3C) with a further prospective resource totalling 8.6 TCF (High Estimate). Tlou is aiming to have certified gas reserves in the 2013/2014 period.

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