BSE pre-listing statement

Good documents - clear and informative. Highlights for me were:
8.2 over 50 wells drilled at Lesedi including 16 core holes yielding good quskirt technical data (and more still required);
8.5 Project be developed in stages with an initial incremental 10MW project targeting first power sales from 2019 (break even is further away again);
8.7 Mining Licence covers large area 900 sq kms;
8.15 Project Development can commence at any time with no minimum spend stipulated (big advantage);
9.2 other southern African Govts are demonstrating increased levels of support for IPPs (in renewables I suspect);
11.2 Exploration funding requirements for next 2 years following date of thiS pre-listing statement is approx P41m ($4m) - existing cash plus Africa AllIance proceeds now adequately funded for exploration purposes (but not develzooming purposes - so 326m shares in issue now and likely more to be issued to o retain ownership in development, initial 10MW, or allow partners to farm-in and fund development but means giving away some level of economic interest=
/ownership);
12.6 Risks to Tlou and industry - a must read! Too much to summarise here bit I was drawn to Tenure Risk, Further Funding Requirements, Royalties and Taxes (where Sekaname has a Farm-In Agreement which could adversely affect TlOu financial position, performance and prospects - really? How?;
30.1 Material Contracts - Farm-In Agreement (page 91) where details of Sekanare who onward sold leases to Sable Energy which became Tlou Energy. Have a rrad - is under the heading of Material Contracts;
3.2.1 Exploration dataset of SRK Consulting competent persons Report - 70 welols consisting of coreholes, stratigraphic wells and pilot production wells drilled by Saber (and presumably Sekaname before that) and approx 25 wells consisting of exploration and pilot production wells drilled by Tlou (after Sabed) to date of this report;
Further down this section are details of results on flow rates from Tlou wells;
Para 4 of SRK report Future exploration work program - 2D seismic survey ....help better understand the dewatering characteristics of the coal and gas cimpositions and saturations (ie give them a better ‘sense of the smell of the gas’, a comment which drew much ridicule previously);
Para 5 Conclusions - based on the tested coal core samples, the produced gas will be methane rich. Report is sparse on this key data metric explained prenviously as because it was commercially sensitive info, yet being most advanced and 3-5 years ahead of competition, who is this info commercially sensitive from? I suspect disclose something +ve here and that would kick the share price. Maybe more drilling necessary, how much more though;
Apologies for picking what appears negative observations - but I would assert that the positive ones are well known. How about some real introspection whilst we await Bid award (for me, this is bigger than Reserves upgrade).