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Botala Energy Ltd (ASX:BTE)

ALERT: Price-sensitive ASX Announcement for BTE
Current share price for BTE : $0.044 -0.014 (-24.14%)+
Announcement
Release
2 Jun 2026 9:39AM
Price at Release
$0.058
Full Release
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Summary
Botala Energy Ltd has announced significant progress on its Serowe CBM Project in Botswana, particularly with the Pitse Pilot well 3.5B. The well has confirmed 13 meters of high-quality Serowe seam coal, which is 30% thicker than previously estimated, strengthening the potential for commercial gas production. This uniformity and thickness are consistent across other wells in the cluster, indicating strong reservoir continuity. The support wells are showing encouraging signs of gas buildup, and the dewatering process is proceeding efficiently with expectations to reach desorption points within weeks. The project, a 100% Botala-owned venture, aims to develop natural gas to support power generation and industrial demand in Southern Africa.
Key Points
  • Pitse Pilot well 3.5B confirms thicker, cleaner and more continuous coal seams.
  • Open-hole wireline logging at Pitse Pilot well 3.5B confirms 13m of net Serowe coal, 30% thicker than the pre-drill estimate.
  • The Serowe seam thickness at well 3.5B is consistent with offset wells 3.1, 3.2, and 3.3.
  • Support wells 3.3 and 3.1 are showing gas build-up.
  • All dewatering wells are expected to approach their desorption points within six to eight weeks.
  • The Serowe CBM Project is designed to develop a domestic source of natural gas in Botswana.
  • The project is 100% owned by Botala through its subsidiary Botala Gas (Pty) Ltd.
  • Phase-1 Pitse Pilot aims to establish a production pathway to 3.5 petajoules of LNG per year.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.