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Africa-focused gas developer Tlou Energy posted a deeper annual loss after it wrote down the value of its assets.
Pre-tax losses for the year through June amounted to $13.3m, compared to losses of $3.2m on-year, and included a $10.7m impairment charge.
During the reporting period, Tluo said it had negotiated an initial power purchase agreement for its Lesedi project with Botswana Power Corporation.
Plans also were progressed to develop solar power in conjunction with gas-fired power to provide a hybrid solar and gas solution.
'We have made excellent progress towards establishing ourselves as a key power player in Botswana,' chairman Martin McIver said.
At 9:11am: (LON:TLOU) Tlou Energy Limited share price was -0.3p at 1.5p