Chairman’s address - AGM
It gives me great pleasure to deliver the Chairman’s address at Tlou’s fifth AGM as alisted entity.The past year has been an exciting one for Tlou, with the company hitting a number ofsignificant milestones which will help us to reach our future goal of being the first CBMproject in Botswana to move into production.Tlou’s primary focus over the years has been on developing the Botswana Lesedi CBMproject including completing a 250km seismic survey and a program to drilling anumber core wells, this work contributed to a significant upgrade of reserves inFebruary 2018
. Additional field development work is also currently underway with thefirst of the new pilot production wells being spudded last night. These new wells will bedrilled into early 2019 and are situated close to Tlou’s proposed central processingfacility to optimize future development activities.
We will commence production testing of the pilot wells once completed, whileconcurrently working on the next steps in the Lesedi CBM project’s development plan.We remain committed to building shareholder wealth through progressing the LesediCBM project towards production.Tlou is excited by the development of a CBM gas industry in Botswana. Theestablishment of this industry will not only help the country manage the current energyshortage it faces but will also provide a new industry, and associated employment. CBMwill create an alternative and cleaner energy source for the country and its citizens.Finally and most importantly, I would like to take this opportunity to recognise thecontinuing support of our shareholders, without whom our project would not bepossible.
