Tlou Energy Limited

("Tlou" or "the Company")

Lesedi 6 Production Well Drilling

The Company is pleased to announce that work has begun on the next phase of drilling at Tlou's Lesedi Gas-to-Power project.

The Lesedi 6 gas production pod spudded on 10 April 2023 and is at a depth of approximately 59m.

The pod will comprise one vertical production well intersected by two lateral wells drilled horizontally through the target reservoir section for several hundred metres.

The objective of the pod is to increase the volume of gas available to the Company for power generation. Lesedi 6 is located to the southwest and parallel to the existing Lesedi 4 gas production pod which has been producing gas for some time.

Once Lesedi 6 is drilled and completed, dewatering will commence and thereafter the well will start to establish an indicative gas flow rate.

Lesedi 6 is the first well of a proposed drilling program to expand gas production at the Lesedi project. Gas flows from Lesedi 6 are planned to be converted to electricity for the existing 10MW Power Purchase Agreement (PPA) with Botswana Power Corporation (BPC) once the transmission line, substations and associated electrical infrastructure are in place.

By Authority of the Board of Directors

Mr. Anthony Gilby

Managing Director

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For further information regarding this announcement please contact:

About Tlou

Tlou is developing energy solutions in Sub-Saharan Africa through gas-fired power and ancillary projects. The Company is listed on the ASX (Australia), AIM (UK) and the BSE (Botswana). The Lesedi Gas-to-Power Project ("Lesedi") is 100% owned and is the Company's most advanced project.  Tlou's competitive advantages include the ability to drill cost effectively for gas, operational experience and Lesedi's strategic location in relation to energy customers. All major government approvals have been achieved.

Forward-Looking Statements

This announcement may contain certain forward-looking statements.  Actual results may differ materially from those projected or implied in any forward-looking statements.  Such forward-looking information involves risks and uncertainties that could significantly affect expected results.  No representation is made that any of those statements or forecasts will come to pass or that any forecast results will be achieved.  You are cautioned not to place any reliance on such statements or forecasts.  Those forward-looking and other statements speak only as at the date of this announcement. Save as required by any applicable law or regulation, Tlou Energy Limited undertakes no obligation to update any forward-looking statements.