26 June 2014, News Wires – Australian junior Tlou Energy is divesting its interest in a pair of licences in Zimbabwe to focus efforts on its coalbed methane project in Botswana.
The Brisbane-based company said on Thursday it was in the process of divesting its 49% stake in Mid-Zambezi basin licence areas SG 7/05 and SG 9/05 to the 51% interest holder. This process is anticipated for completion in the coming days.
Meanwhile, the company has been pushing forward with dewatering activities at its Lesedi CBM project in Botswana.
It said critical gas desorption pressure was anticipated at the Selemo pod within the next few weeks. Following this, a corresponding build-up of gas pressure is expected to kick off gas production testing during the third quarter.
At the Lesedi pilot pod, Tlou has temporarily discontinued pumping the well in order to undergo remediation work.