Announcement • Sep 25
Tlou Energy Limited, Annual General Meeting, Nov 25, 2025 Tlou Energy Limited, Annual General Meeting, Nov 25, 2025. Announcement • Mar 13
Tlou Energy Limited Announces Management Changes Tlou Energy Limited announced that Ian Campbell and Allan Sullivan have been appointed to the Board as Non-Executive Chairman and Non-Executive Director respectively. In addition to the above changes, the role of Martin McIver the current Chairman, will revert to a Non-Executive Director role, Gabaake Gabaake will be appointed as Deputy Chairman and Colm Cloonan will become the Company Secretary following the resignation of Solomon Rowland. Dr. Ian Campbell holds a PhD in Electrical Engineering from the University of New South Wales and has over 50 years of experience in industry, software and electronic commerce. He has played a key role in successful commercial ventures in Australia, Asia, and USA, both as an investor and operator. Ian holds a controlling interest in ILC Investments Pty Ltd, which is Tlou's larger shareholder. Dr. Allan Sullivan holds a Doctor of Engineering from the University of Sydney and has amassed 50 years of diverse experience across various fields. His career has taken him across multiple regions, including Asia, Australia, and Europe where he has worked for global engineering companies including Landis & Gyr, ABB and Siemens where he participated on their subsidiary executive boards. Allan has served as a director for several listed entities. Mr. Solomon Rowland has resigned from his position as Company Secretary following an offer from another entity. Following these changes the board of Tlou Energy Limited is as follows: Ian Campbell - Non-Executive Chairman; Anthony Gilby - Managing Director & Chief Executive Officer; Gabaake Gabaake - Executive Director & Deputy Chairman; Colm Cloonan - Finance Director & Company Secretary; Hugh Swire - Non-Executive Director; Martin McIver - Non-Executive Director and Allan Sullivan - Non-Executive Director. Announcement • Nov 25
Tlou Energy Limited Announces Electrical Substation At Lesedi Nearing Completion Tlou Energy Limited announced Electrical substation at Lesedi nearing completion. Gas has been flowing from the Lesedi 4 and Lesedi 6 gas wells. The gas flow has been surging with work ongoing to produce a more constant rate. This is required to facilitate generation of power. The key issue has been coal fines or particles that have caused the downhole pump to block and have constrained the dewatering process. Tlou's operations team are fully focused on this issue at the present time. Once resolved, the aim is to maximise water drawdown to produce higher and more consistent gas flows over the coming months. Tlou's gas Reserves and Contingent Resources have been independently certified by SRK Consulting (Australasia) Pty Ltd. The Company's 2P Reserves are 40.8 Billion Cubic Feet (BCF) which is an energy equivalence of ~6.8 million barrels of oil (MMboe). A 10MW project is estimated to require less than 30 BCF of methane over a 25-year period. Tlou's 3P Reserves are 426.6 BCF. The 66kV power line connecting Lesedi to the Serowe substation is virtually complete and is designed to take up to 25MW of power. Some minor finishing works, such as the addition of switchgear at the Serowe substation, will be carried out prior to the line being energised. The power line is effectively under care and maintenance until Tlou is ready to bring it online. The Lesedi substation is over 90% complete with the Serowe extension ready for commissioning. A 5MVA step-up transformer was delivered to the project site on 20 November 2024. This is a key component to finalise the substation. With the transformer now in place, work will continue onsite with completion anticipated before the end of the year. The 5MVA transformer will facilitate around 5MW of generation. Further transformers will be added as the project grows with the substation designed for expansion up to 25MW. The Company has progressed discussions with a global power generation supplier to install a power generation facility at Lesedi using reciprocating 1,375 kW Cummins branded gas engines with GE generators. Should an agreement be put in place, the units will be delivered, installed and commissioned by the provider, who will also handle ongoing operations and maintenance. It is envisaged that power generators will be supplied and installed in phases, commensurate with gas production capacity. The lead time to get generators onsite is currently expected to be 6-8 weeks from order. The proposed generators can take up to 220m3 of methane per hour with actual power generation output subject to various factors including the temperature and altitude. The generator set includes a lower 20-foot container which houses a Cummins 1,375 kW engine and generator with an upper container including a radiator and the generator cooling system. The power station is anticipated to be installed, commissioned and tested ahead of first generation in mid-2025, subject to receiving adequate funding and flowing sufficient and consistent gas from existing and proposed production wells. Initial generation is planned to start with up to 2MW of power and as additional gas wells are drilled this will increase to 10MW in line with the Power Purchase Agreement (PPA) that is already in place with Botswana Power Corporation (BPC). The PPA is valid for an initial five-year term and upon successful completion of the first 10MW and prior to the end of the five-year term, the Government and BPC are committed to extending the existing PPA for at least a further five years and/or agreeing a new long term PPA with Tlou with increased power delivery beyond the initial 10MW. Thereafter expansion is planned to match the nominal 25MW of power that could be transmitted on the 66kV transmission line to Serowe that Tlou has constructed. Expansion beyond 25MW would involve building a new power line either to the east to join the existing 220kV grid at Mahalapye or to the northwest minerals province. Both of these markets have a power requirement in the order of 100MW or more. Additionally, the Southern African Power Pool reaches over 500 million potential electricity consumers providing virtually unlimited expansion potential. This, combined with the Company's 100% owned gas prospective acreage, sets the stage for considerable future growth potential. The Company's production and exploration licences are ideally located in Botswana's Central district with direct access to the grid. The Lesedi development, which includes the generation site, substations, gas production wells and operations camp is located on Tlou's 40km2 property which forms part of Tlou's production licence, which is valid until 2042. Additionally, Tlou's prospecting licences cover a very large area ensuring continuing exploration and development potential. 
