(MENAFN- ProactiveInvestors)
(ASX:TOU) is developing coalbed methane opportunities in Botswana particularly its advanced Lesedi CBM project.
Proactive Investors has secured chief financial officer Colm Cloonan to present to investors at the upcoming "Melbourne Investor Luncheon” on Tuesday 10th February 2015 and the "Sydney Investor Luncheon" on Wednesday 11th February 2015.
REGISTER by clicking on the city below for additional details:
Melbourne OR Sydney. Otherwise call (02) 9299 5001
and ask for John.
In December the Selemo Pilot within Lesedi achieved peak flow rates of 395000 cubic feet of gas per day.
Results to date indicate that the economic threshold for a potential development has been met when all key factors are taken into consideration.
Gas sales agreement negotiations are progressing.
This will serve to underpin ’s planned field development objectives at the Lesedi CBM Project in Botswana with the objective to supply gas to the Orapa Power Station and elsewhere.
The Selemo Pilot is the first in Botswana to flow coal seam gas at these rates.
Encouragingly pressure in the lateral well-head has been building up since the Selemo pilot was shut-in to allow pressure build-up data to be accumulated and assessed prior to the recommencement of longer term production testing in early 2015.
Tlou expects that additional wells placed near the Selemo Pilot will assist in maintaining (or even enhancing) the longer term gas flow rate given a significantly larger area of the coal seam would be dewatering and maintained below the gas desorption pressure.
The company has $5.8 million in cash and deposit at call as at 31st December 2014.
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