London-listed Tlou Energy today announced a large increase in gas reserves at two fields in Botswana.
Tlou said reassessments showed the Lesedi and Mamba projects contained 3.9nillion cubic feet of “proved and probable” gas reserves, 44% above previous estimates.
Tlou managing director Tony Gilby said: “This significant upgrade in reserves reinforces the commerciality of the Lesedi Gas Project.
“Together, we believe that the Lesedi and Mamba projects will continue to develop into a valuable resource for Tlou shareholders as we work towards increasing the certified gas reserves in both areas.
“Furthermore, the company is on track to become the first gas to power producer in Botswana.”