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Tlou Energy Ltd

Tlou Energy completes first Lesedi well pod

The drilling rig is now being moved to the intended location of the second Lesesdi pod

oil and gas operations
Gas flow testing is slated to follow the installation of equipment

Tlou Energy Ltd (LON:TLOU) told investors it has completed its first development pod for the Lesedi coal bed methane project, advancing the project closer to production.

The company, in a stock market statement, said that the Lesedi 3A and Lesedi 3B lateral wells both intersected with the vertical well Lesedi 3P, to complete the development pod.

READ: Tlou eyes likely investment in near term

Dewatering operations and gas flow testing will follow, after the installation of production equipment.

Meanwhile, the drilling rig is being moved to the intended location of the second Lesesdi pod.

Tlou last week said it believes there’s a significant likelihood that it will secure investment in the near term.

The coal bed methane firm confirmed that it is in discussion with parties considering investment into the company either via equity or debt provision.

Quick facts: Tlou Energy Ltd

Price: £0.05

Market: AIM
Market Cap: £20.48 m
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