Tlou raises P22m for Lesedi CBM project

Mbongeni Mguni | Tuesday July 28, 2020 15:24

 

Lesedi Project

In a statement to investors, Tlou Energy MD, Tony Gilby said the partially underwritten share offer of 75 million shares had raised P22 million out of the P24 million targetted.

The proceeds of the offer will go towards engineering and design of a transmission line, due diligence costs related to development funding, field operations and working capital at Lesedi. Tlou is developing a ‘scalable’ power project and recently entered into an agreement with the Botswana Power

Corporation (BPC) to pilot a 2MW plant at Lesedi.

The company boasts independently certified gas reserves of  about 41 billion cubic feet at its licences in central Botswana.