TMK Energy Awards Drilling Contract for Gurvantes XXXV CSG Project

Source: 2/24/2022, Location: Asia

TMK Energy has signed a contract with Ellehcor Drilling Services for the maiden drilling program on the Gurvantes XXXV CSG Project in the South Gobi Basin of Mongolia due to commence in the next few weeks.

The maiden drilling program will comprise of 4 full tested cored holes within the western portion of the Gurvantes XXXV license area in the region of Nariin Sukhait which has a number of active open cut coal mining operations and has been extensively explored for coal over the last 15 years. The Nariin Sukhait area is known to contain two very thick, high quality, coal seam groups and historical coal seam gas data acquired from a series of 5 wells indicates high gas contents. The drilling program has been designed to intersect these thick coal seams at suitable depths for coal seam gas development.

These historical wells were not fully tested using modern CSG techniques and the testing program has been designed to provide the comprehensive data required to fully assess the commercial potential of the coal seam gas that has previously been identified, with the key commercial parameter to be confirmed being the permeability of the coal seams.

The drilling is the first step in the process of converting the independently certified 5.96 TCF (2U risked) Gross Prospective Resource1 into Contingent Resources. This will be a major milestone in the potential establishment of a world class gas project adjacent to one of the world’s largest gas markets, China.

The drilling program will be funded by TMK’s partner Talon Energy under an existing farm out agreement. TPD is earning a 33% economic interest in the Gurvantes XXXV Production Sharing Agreement by funding the first US$4.65 million in expenditure via a two-stage farm-in agreement.

Mr Brendan Stats, TMK Energy’s Chief Executive Officer commented:

'I have recently arrived in Mongolia and am working with our established local team preparing for the mobilisation of the drilling team and drilling rig to the Nariin Sukhait area. The TMK operations team are well prepared for the drilling program having brought in the required specialised equipment from Australia over the last 12 months.

'With all approvals in place and all contractors engaged, we are looking forward to commencing our maiden drilling program in early March and taking a significant step forward in our goal to deliver a world class CSG project right next door to China, the largest growing gas market in the world.'

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