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Botala Energy Ltd. ( (AU:BTE) ) has shared an update.
Botala Energy has reported its strongest reservoir response yet at the Pitse Pilot after stimulating the Serowe-3.3 well in the Upper Morupule seam, with record formation pressure and water flow and visible free gas at surface. The results indicate a material improvement in permeability using relatively simple perforation and jetting techniques, giving the company greater confidence in the seam’s gas production potential.
A temporary wellhead has been installed to safely manage elevated pressures while the reservoir team conducts a step-rate test and subsequent controlled production evaluation, including gas flow testing, before full dewatering and flow-testing. Insights from Serowe-3.3 will guide optimisation of other pilot wells, including Serowe-3.2 and the central production well Serowe-3.5B, whose spud has been delayed by one week to strengthen the technical foundations of the broader development program.
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 Botswana Stock Exchange-listed energy company focused on coal bed methane development at its Project Pitse in Botswana. The company is advancing a pilot program targeting the Serowe and Upper Morupule coal seams, aiming to improve gas production potential through stimulation and dewatering to support future commercial gas development in the region.
Average Trading Volume: 127,365
Technical Sentiment Signal: Sell
Current Market Cap: A$15.15M
Find detailed analytics on BTE stock on TipRanks’ Stock Analysis page.