One of the region’s most advanced Coal Bed Methane developers, Tlou Energy, has raised P24 million in a share offer designed to advance its Lesedi project in central Botswana.
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
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.