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An update from Botala Energy Ltd. ( (AU:BTE) ) is now available.
Botala Energy Ltd has secured a significant investment increase from the Botswana Government’s Minerals Development Company Botswana (MDCB), which has proposed a 40% higher investment of approximately A$4 million in Botala’s subsidiary, Botala Gas (Pty) Ltd. This investment, which includes a 15% stake in the CBM project and a 1% royalty on future LNG production, will support the development of Botala’s Pitse Pilot, the first phase of a plan to produce 3.5 petajoules of LNG annually. The investment is expected to fast-track gas flow testing and fund a Bankable Feasibility Study, aligning interests with the Botswana Government and fostering local job creation and business opportunities.
More about Botala Energy Ltd.
Botala Energy Ltd is a company involved in the development of coal bed methane (CBM) to liquefied natural gas (LNG) projects, primarily focusing on the Serowe CBM project in Botswana. The company aims to address Southern Africa’s industrial gas supply crisis by increasing gas production.
Average Trading Volume: 134,830
Technical Sentiment Signal: Sell
Current Market Cap: A$14.82M
See more data about BTE stock on TipRanks’ Stock Analysis page.