BotsGas Pty Ltd is an Australian oil and gas exploration and development company focused on natural gas opportunities in the form of coal-bed methane (CBM) in Botswana. The Company has struck a deal to farm into Strata-X’s (ASX: SXA) Serowe CBM Project in a high-grade CBM region of Botswana. All approvals have been secured for the 95+ well drilling program and BotsGas is planning the drilling of its initial corehole (Strata-X as Project Managers). The Company aims to establish a contingent resource while jointly pursuing off-take agreements.
BotsGas and SXA share the vision of gas underpinning a transition to cleaner energy within Southern Africa. The companies believe the size and quality of the CBM resource within Botswana can be a catalyst to transition the country to a greener energy network with a mix of renewables and gas power generation.
Botswana aims to become less dependent on expensive imported diesel and unreliable electricity to create new industries by producing up to 70 TCF* from its current undeveloped underground gas resources.
The Company has 43,928,302 Ordinary Shares and 17,257,000 Options on issue at 15 September 2020.
The Directors collectively hold 55.97% of the Ordinary Shares of the Company.
There are 4 shareholders that are Substantial Shareholders each holding greater than 5% of the Ordinary Shares of the Company.