Tlou Reports CBM Reserves Upgrade
Tlou Energy, the Australia and London AIM-listed coalbed methane explorer, announced February 15 a “significant upgrade of reserves” for its Lesedi CBM project, plus initial reserves for its nearby Mamba project, both onshore Botswana.
Previously, Australia’s SRK Consulting assessed Lesedi CBM 2C reserves at 2.7bn ft³.
Now SRK has assessed Lesedi and Mamba CBM 2C reserves at 3.9bn ft³, an increase of 44%, based on a southern extension of the Selemo pilot area in the Lesedi project area. SRK assessed proven, probable and possible reserves at both of 261bn ft³, 390% higher than before.
Mamba in this context is not to be confused with the giant offshore Mozambique gas field discovered by Eni and partners.
Tlou managing director Tony Gilby said the reserves upgrade “reinforces the commerciality of the Lesedi Gas Project”, adding that success at its Selemo pilot in producing sustained gas flows suggests “significant gas production potential for the area.” It is continuing work on planning for the staged delivery of a commercial CBM-fuelled power facility. A related agreement with US turbine-making giant GE comes up for renewal at the end of this month.