Source: Elixir Energy
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Elixir Energy (EXR) awarded ‘Investor of the Year’ by Mongolia’s Minister of Mining and Heavy Industry, Yondon Gelen
  • The company has also completed its 2021 drilling program following conclusion of three wells across its wholly owned Nomgon IX Coal CBM Production Sharing Contract in Mongolia
  • 65 per cent of the 17 wells drilled in the company’s 2021 program reportedly intersected coals in the coal bed methane window
  • The company will take a short hiatus in field work while mandatory annual regulatory processes for its 2022 program are underway
  • Shares were down 2.44 per cent to 20 cents at 10:32 am AEDT

Elixir Energy (EXR) has been awarded ‘Investor of the Year’ by Mongolia’s Minister of Mining and Heavy Industry, Yondon Gelen.

The company also received this award last year.

Additionally, the company has completed its 2021 drilling program following the conclusion of three wells at its wholly-owned Nomgon IX Coal coal bed methane (CBM) Production Sharing Contract in Mongolia.

Of the three recently drilled wells, Nomgon-7s will be used as a pressure monitoring well for next year’s production pilot in the Nomgon sub-basin.

The Richcairn-4 appraisal well has reportedly intercepted 20 metres of coal and 6 metres of silty coal, from a total depth of 560 metres. The Bag-1S well reached a total depth of 779 metres but did not intersect coal.

In total, 65 per cent of the 17 wells drilled in the company’s 2021 program reportedly intersected coals in the coal bed methane window.

The company says there will be a short hiatus in the field, while mandatory and annual regulatory processes for its 2022 program are underway

Shares were down 2.44 per cent to 20 cents at 10:32 am AEDT.

EXR by the numbers
More From The Market Herald
The Market Herald Video

" Askari Metals (ASX:AS2) acquires Barrow Creek Lithium project after raising $2.6m

Askari Metals (ASX:AS2) has acquired the Northern Territory Barrow Creek Lithium project after completing a $2.6…
Agrimin (ASX:AMN) - CEO, Mark Savich

" Agrimin (ASX:AMN) announces $7m cap raise

Following a trading halt earlier in the week, fertiliser development company Agrimin (ASX:AMN) has announced plans…

" Race Oncology (ASX:RAC) reports $1.8m in cash outflows

Race Oncology (ASX:RAC) reports $1.8 million in cash outflows