• Botala Energy raising up to $1.5 million as it fields impressive methane results

  • Aug 7 2024
  • Length: 7 mins
  • Podcast

Botala Energy raising up to $1.5 million as it fields impressive methane results

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  • Summary

  • Botala Energy Ltd (ASX:BTE) CEO Kris Martinick sits down with Proactive’s Jonathan Jackson to talk its capital raise plans and recent results from the Serowe Coal Bed Methane Project in Botswana. The company plans to raise up to $1.5 million to support the development of the project and to secure strategic development partners. It has received firm commitments to raise approximately $850,000 through a two-tranche placement, with plans to conduct a share purchase plan to raise up to an additional $650,000. Gas analysis conducted at Botala’s Serowe Coal Bed Methane Project showed a high methane content, with readings up to 94%. The analysis also detected iso-butane, which can enhance the gas's energy content. Impurities were found to be minimal, with low CO2 levels, trace amounts of hydrogen sulphide and no sulphur dioxide present. Gas desorption testing for the second phase has been completed, showing gas concentrations exceeding the target of 2.4cc/g, reaching up to 2.91cc/g. This phase will progress to a crush test, expected to further increase the desorption rate. The overall gas quality is predominantly methane with some iso-butane and low impurities, simplifying processing and reducing development costs. Martinick is impressed with the results that indicate a strong potential to surpass the target rate of 2.4cc/g used in previous resource certifications and feasibility studies, comparing favourably with commercial gas fields in Queensland. This progress is a positive indicator for the project's advancement towards development. #Proactiveinvestors, #BotalaEnergy #ASX #ProjectPitse, #SeroweCBM, #Methane, #GasDesorption, #Energy, #GasAnalysis, #CoalBedMethane, #BITRICMS, #CO2, #HydrogenSulphide, #SulphurDioxide, #FeasibilityStudy, #GasConcentration, #EnergyContent, #NaturalGas, #Q2Testing, #ResourceEstimates, #LNGProduction, #ElectricityGeneration, #Fundraising, #SharePurchasePlan, #Investment, #EnergyDevelopment, #Placement, #Botswana, #InvestorSupport #invest #investing #investment #investor #stockmarket #stocks #stock #stockmarketnews
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