March 24, 2020 / 2:27 AM / 6 days ago

BRIEF-Tlou Energy Will Be Implementing Significant Cost Reductions Across Company

March 24 (Reuters) - Tlou Energy Ltd:

* TLOU WILL BE IMPLEMENTING SIGNIFICANT COST REDUCTIONS ACROSS COMPANY

* MANAGING DIRECTOR TO REDUCE 50% OF CURRENTLY CONTRACTED RATE BACKDATED TO 1 JAN 2020 & THEN 25% FROM 1 APRIL

* COLM CLOONAN, GABAAKE GABAAKE AND SOLOMON ROWLAND WILL REDUCE TO 50% OF THEIR CURRENTLY CONTRACTED RATES BACKDATED TO 1 JAN

* IN COMING WEEKS, COMPANY IS INTENDING TO SHUT‐IN ONE OR POSSIBLY BOTH OF PRODUCTION PODS Source text for Eikon: Further company coverage:

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