Australia's Tlou Energy to Divest Stake in Two Zimbabwe CBM Licences

Australia listed, Southern Africa focused CBM player Tlou Energy said on Thursday that it is divesting stake in two licence areas in Zimbabwe.

Tlou announced it is currently in the process of divesting its 49% interest in the two licence areas to the 51% interest holder. The process will be completed in the coming days.

The company has decided to take this step in order to focus on the Lesedi CBM project in Botswana.

Lesedi CBM project area includes the Lesedi pod and the Selemo pod.

The project’s prospecting licenses extend for approximately 3,800km2 in the Karoo Kalahari Basin, southeastern Botswana. According to Tlou, numerous exploration and appraisal work programmes have resulted in an independently certified 2.3 TCF of 3C, and 152 BCF of 2C contingent gas resources.