KALAHARI ENERGY
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9.8%
Kalahari Energy Limited (KE) is a British Virgin Islands (BVI) company
that wholly owns Sekaname (Proprietary) Limited, a Botswana company that holds
prospecting licences for coalbed methane (CBM) exploration for extensive areas
in that country. KE has acquired significant levels of specialised equipment,
expertise, experience and data associated with CBM exploration. VenFin owns
10% of KE and has an option to increase its shareholding in the future. |
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Independent resource projections show that large quantities of CBM are available
in Botswana for exploitation, which could impact significantly on the energy
sector in Southern Africa.
Overview of the year to 30 June 2007
The results from the KE trial wells that monitor gas yield trends exceeded
expectations. The year culminated in a transaction with Saber Energy Corporation
(part of the Canadian-based Tau Capital Group), who will develop gas well fields
for the purpose of electric power generation (power to be supplied into the
South African power grid) on a number of selected licence areas.
The future
A number of ‘farm-in’ transactions are being negotiated with
various multinational resource companies to ensure that the licence areas under
KE ’s care are exploited optimally. These agreements are expected to
be concluded by the end of 2007. In addition, KE is pursuing a number of energy-related
projects of its own accord. It is anticipated that the first commercial well
field will be operational within three to five years.
