Event: Successful listing on the Botswana Stock Exchange (BSE) for Botswana Energy (BTE) yesterday.
Highlights;
- Decent volume and strong buy-side interest post-listing indicate potential international interest noting that orders on BSE need to be executed on the ASX the next day and or increased local interest / awareness.
- Importantly, BTE now meets the investment universe requirements in Botswana for their pension funds and institutions.
- Note that the Botswana Public Officers Pension Fund own 4.5% of ASX and BSE listed Tlou (ASX:TOU) evidencing the legitimate interest in similar investments in the local Botswana insto market.
Technical and Valuation:
- BTE vs. Tlou Energy (TOU): BTE arguably more valuable, trading at 6x less. Due to the following:
- Technical edge: BTE's acreage covers all three seams, this makes recovery much more efficient and cost-effective compared to TOU's single-seam, which requires expensive horizontal wells.
- Notably, Tlou's production from the deepest seam involves the expensive drilling of horizontal wells, costing substantially more and yielding lower sustained flow rates, such as 20mscfd. In contrast, BTE's SINGLE Serowe-3-1 well, drilled at a cost-effective $220k, produced an impressive 42mscfd. This is expected to increase from the 5 well pilot well currently being drilled; and
- The Resource Base below.
Comparative Market Caps and Top 20:
- Market cap comparisons showcase BTE's potential against peers: VS Energy ($5m), EXR ($95m), TOU ($30m), IVZ ($168m).
- Supportive register with the top 20 owning 77.14% and the top 3 owning 53.49%.
Resource Base:
- BTE boasts 317 bcf of 2C and 8tcf of 3C, surpassing many of the above competitors in potential scale.
As a side note, Botswana Presidential engagement pictured below emphasises high-level support for BTE's project, which is strong hint at insto support to now follow the BSE listing.
Good luck to BTE team and its shareholders - exciting times ahead with the upcoming further wells, commercial pilot, solar and hydrogen projects and following yesterday's listing.
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- Event: listing on the Botswana Stock Exchange (BSE) yesterday.
Event: listing on the Botswana Stock Exchange (BSE) yesterday.
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Last
7.6¢ |
Change
-0.001(1.30%) |
Mkt cap ! $7.47M |
Open | High | Low | Value | Volume |
7.7¢ | 7.7¢ | 7.6¢ | $7.644K | 100K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 226319 | 7.6¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
8.0¢ | 44000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 226319 | 0.076 |
1 | 33790 | 0.075 |
1 | 13513 | 0.074 |
1 | 65904 | 0.070 |
2 | 19848 | 0.060 |
Price($) | Vol. | No. |
---|---|---|
0.080 | 44000 | 1 |
0.081 | 33790 | 1 |
0.083 | 30000 | 2 |
0.085 | 57415 | 1 |
0.086 | 45211 | 1 |
Last trade - 12.32pm 08/05/2024 (20 minute delay) ? |
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