Botala Energy delivers 42% increase in CBM resources

Proactive - Interviews for investors

Botala Energy Ltd (ASX:BTE) CEO Kris Martinick joins Proactive’s Jonathan Jackson to discuss a 42% increase in the 2C Contingent Resources within its Serowe Coal Bed Methane (CBM) Project in Botswana, bringing the total to 454 billion cubic feet (bcf) after a recent recertification by Sproule in the USA. This increase stems from extensive exploration and improved mapping techniques, resulting in a better understanding of CBM potential. The new low estimate of 363 bcf (2C) surpasses the previous best-case estimate of 317 bcf (2C). This upgrade occurs as southern Africa faces a predicted gas shortage by 2026, as forecast by Sasol. Botala's strategic location and increased resources enhance its potential to significantly contribute to energy security in Botswana and the broader region. Martinick expressed enthusiasm over the resource increase and the project's potential to supply gas to southern Africa, including South Africa's industrial heartland. He highlighted Botala's strong position to leverage this opportunity, anticipating successful gas flow-rate investigations and partnerships that will benefit shareholders. The updated resource assessment by Sproule includes key points such as the increased 2C Contingent Resources, additional drilling and exploration activities, and new geological insights. Six additional wells have been drilled since the last report in April 2022, confirming significant coal intervals with free gas. The updated assessment also factors in a 15% reduction in coal volumes due to dolerite intrusions. Future steps involve further production testing to classify resources as reserves, with a phased exploration and testing program planned to achieve feasibility and commerciality. #ProactiveInvestors #BotalaEnergy #ASX #CBMProject #EnergySecurity #GasResources #SouthernAfrica #Botswana #CoalBedMethane #GasFlow #Exploration #ResourceAssessment #EnergySupply #IndustrialHeartland #KrisMartinick #SprouleReport #ResourceIncrease #EnergyMarket #GasShortage #ProductionTesting #EnergyDevelopment #CommercialGas #invest #investing #investment #investor #stockmarket #stocks #stock #stockmarketnews