Tlou Energy Reports "Making Excellent Progress and On Budget" At Lesedi CBM Project
Just a few weeks after releasing operational reports, has announced that their Lesedi drill programme, the company’s coal bed methane project in Botswana, is “making excellent progress and on budget.”
Should the drilling programme be successful, the Lesedi project will establish Tlou as a gas-to-power supplier status for the first time.
Two vertical wells, Lesedi 3P and Lesedi 4P, have completed drilling and work has already begun on a third vertical well, Lesedi 5P. Lesedi 4P has been drilled to a total depth of 577m and has encountered a “very good target coal horizon.”
The wells are being drilled as “dual lateral pods,” constructing a single vertical production well intersected by two lateral wells; gas will be extracted and gathered for use from the coal produced in the vertical production well.
Up to three pods are planned and Tlou foresees drilling to continue into early 2019.
The news has been met with a slight uptick in Tlou’s share prices, up almost 3%, and should bolster investor confidence as the company continues to successfully meet project deadlines and requirements.
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