Tlou Says Botswana Reserves Upgraded

Tlou Energy, an Australia-based coalbed methane (CBM) fired power developer in Botswana, said February 20 an audit has substantially upgraded its reserves.

It said the reserves assessment, independently certified by SRK Consulting (Australasia), put its proven and probable CBM reserves in Botswana at 40.8bn ft³ – a 944% increase from the previous 3.9bn ft³ estimate.

Tlou managing director Tony Gilby said: "This very significant upgrade in gas reserves reinforces the commerciality of the Lesedi and Mamba projects.”

But its statement did not say how February 14 talks with the Botswana government to dissuade it from re-tendering an up-to-100 MW power project had gone. The government's indication that it wants to re-tender the project represents a setback for Tlou.

The setback in Botswana comes as neighbouring Zimbabwe is opening up its CBM sector to international investors.