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An update from Botala Energy Ltd. ( (AU:BTE) ) is now available.
Botala Energy has reported a significant boost in confidence for the commercial viability of its Serowe Coal Bed Methane Project after successful testing at well S3.3 in the Pitse Pilot program. The company confirmed that, in addition to the Serowe seam, the Upper Morupule seam is also gas-charged and potentially productive, expanding development options and project scale.
Test results showed free gas at surface, indications of supersaturation, and permeability and pressure levels consistent with producible CBM reservoirs. The coal seams responded positively to relatively simple, low-cost stimulation, improving permeability and near-wellbore connectivity, and this data is now being used to design the key production well S3.5B as Botala moves into the next phase of development.
The most recent analyst rating on (AU:BTE) stock is a Hold with a A$0.05 price target. To see the full list of analyst forecasts on Botala Energy Ltd. stock, see the AU:BTE Stock Forecast page.
More about Botala Energy Ltd.
Botala Energy Ltd is an ASX- and BSE-listed energy company focused on coal bed methane development in Botswana. Its flagship Serowe CBM Project targets multi-seam gas production, with a stated aim of establishing a production pathway for liquefied natural gas to meet growing energy demand in southern Africa.
Average Trading Volume: 195,374
Technical Sentiment Signal: Sell
Current Market Cap: A$16.18M
See more data about BTE stock on TipRanks’ Stock Analysis page.