Botswana: Tlou Energy raises funds
Issue 371
- 15 Jun 2018
| 1 minute read
Tlou Energy announced on 6 June that it had completed a £1.4m ($1.9m) share placing to raise funds to progress its coalbed methane (CBM) project and launched an entitlement offer to raise a further £3.2m.Tlou, whose shares are listed on London’s AIM and the Australian Stock Exchange, said the proceeds would be used for drilling of production pods, core-hole drilling, regulatory approvals and working capital. The production pods consist of two lateral or horizontal wells that intersect a vertical well.
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