Botala Energy Achieves Major Milestone: A New Approval for Environmental Impact Marks a Successful Quarter!

Today, Botala Energy Ltd shared its quarterly results, highlighting some exciting developments. Though there was no gas production in December, the company made significant strides.

Here are the key updates from the quarter:

• Environmental approval secured: The Serowe Energy Hub got the green light, a crucial step for the Serowe Coal Bed Methane (CBM) Project and future gas production.
• Full development approvals obtained: Botala now has all necessary environmental approvals for the complete development of the Serowe CBM Project. This includes the gasfield, LNG production facilities, energy hubs in Serowe and Leupane, and a pipeline connecting the gasfield to Leupane.
• Successful funding round: The company raised A$1.87 million to support its ongoing exploration and development efforts.
• Support from shareholders: At the recent Annual General Meeting, shareholders expressed their confidence, passing all proposed resolutions.
• Changes in shareholder structure: Significant changes in the company’s shareholder base were announced during this period.

“As we close out 2024, it’s a good time to reflect on the major progress we made,” said Kris Martinick, CEO of Botala Energy. “Receiving the Environmental Impact Approval for the Serowe CBM Project and successfully raising A$1.87 million were major milestones. These steps greatly strengthen our position to move towards commercial gas production.”

“With strong shareholder support at our AGM, we’re ready to pursue our strategic direction for the long term. As we look ahead to 2025, we’re focused on advancing the Serowe CBM Project and developing our LNG strategy. We’re also exploring hybrid renewable energy solutions to provide reliable and sustainable energy for Botswana and the Southern African region,” Martinick added.

At the end of December 2024, Botala reported net cash of A$1,397,000 following the capital raise, setting a solid foundation for future growth.

The Environmental Impact Approval, received on October 7, 2024, is a key regulatory milestone for Botala. It allows the company to move forward with its plans while demonstrating commitment to environmental responsibility and sustainable practices.

With approvals in hand, Botala can now develop:

• The Serowe gasfield
• Liquefied natural gas (LNG) production facilities
• Energy hubs in Serowe and Leupane
• A pipeline connecting the gasfield to Leupane

The Serowe CBM Project is a significant opportunity to supply natural gas to local and regional markets, especially as South Africa faces potential gas shortages. These developments support Botala’s goal of becoming a vital energy supplier in Southern Africa.

So, what’s next for Botala? The upcoming operational work will emphasize essential activities like well drilling and enhancements. One key task includes workover operations for the Serowe-3.1 well, which will involve replacing downhole sensors and performing a second acid wash to improve its performance.

Drilling will kick off with the Serowe-3.4A well, followed by plans to drill and perforate the Serowe-3.4B and Serowe-3.5B wells. These efforts are aimed at maximizing gas flow rates and ensuring timely commissioning of operations.