Botala Energy Ltd. announce the Serowe-7 well is expected to spud on 27 January 2023. The Serowe-7 well is a ~1km step-out from the Serowe-1 well which was drilled by Strata-X Energy Ltd. in 2018. Serowe-7 was due to spud in December 2022, however, delays due to weather conditions and essential rig repairs impacted on the time required to complete the Serowe-7 well prior to breaking for Christmas.

The deferral allowed Botala to engage Perth based Geophysics consultancy NewExco to complete an independent assessment of the gravity and Audio Magnetotelluric (AMT) survey results and well logs ahead of finalising the location of the Serowe-7 well. Flow-testing of Serowe-3 continues with the water level now drawn down to 160m above the top of the coals and the average water flowrate increasing from 58 bbls/day1 to 70 bbls/day by 20 January 2023. The increase is encouraging as it indicates the reservoir is maintaining permeability with the increasing pressure drawdown.