- Tlou Energy has announced its interim results for the six months ended 31 December 2022.
- The transmission line work is going well, substation construction will continue during the year, and the generation site is coming together.
Tlou Energy has announced its interim results for the six months ended 31 December 2022. The Company has progressed steadily over the past six months and remains on track to get gas-fired power into the grid in Botswana.
The report highlights that:
- Construction of the transmission line to connect Tlou’s Lesedi gas-to-power project to the electricity grid has continued and is now approximately 50% complete.
- Construction of the new operations facility, including workshops, maintenance facilities, accommodation and associated infrastructure for the first development phase, is nearing completion.
- Engineering and design of the next production will have been completed, with drilling set to begin in March 2023.
- Gas production continues at the Lesedi 4 production well.
- AUD 5m was raised from a new strategic investor and is Tlou’s largest shareholder during the reporting period.
Tlou’s Managing Director, Mr Tony Gilby, commented, “The past six months have seen good progress at the Lesedi Power Project. The transmission line work is going well, substation construction will continue during the year, the generation site is coming together, and further production well drilling is set to commence. We remain focused on delivering first power and earning first revenue for the Company as soon as possible.’