March 24 (Reuters) - Tlou Energy Ltd TOU.AX :
* 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