- Over the past three months, Talon Energy (TPD) has been focusing on its partially-owned Walyering gas project in WA and the Gurvantes XXXV project in Mongolia
- The company says the Walyering-6 appraisal well intersected gas accumulations following the successful Walyering-5 drilling and flow test
- With drilling at Walyering-6 now complete, Talon and JV partner, Strike Energy, expect flow testing to commence next month
- Additionally, Talon has seen “encouraging” results from the first hole of the Gurvantes XXXV drilling campaign and has now begun the second core hole as part of a deal to earn 33 per cent of the project
- On the market, Talon is trading 6.25 per cent lower at 0.8 cents per share at 12:15 pm AEST
Talon Energy (TPD) has updated the market on drilling and evaluation activities at the Walyering conventional gas project and the Gurvantes XXXV project.
Over the past three months, the company has had a high period of activity across both projects.
The Walyering Gas Project is located in the Perth Basin, about 150 kilometres north of Perth, and is held in a joint venture (JV) with Strike Energy (STX). Talon holds a 45 per cent interest in the project.
Following on from the successful drilling and flow testing of the Walyering-5 well, the JV commenced drilling the Walyering-6 in late April 2022.
The well intersected a number of gas accumulations in the Cadda Formation sandstones, which represents a new gas discovery.
“Our maiden drill program at Walyering has produced excellent results and the JV is working towards being in a position to make a near term development decision,” Talon Managing Director and CEO Colby Hauser said.
“The strong flow test results to date, combined with the high-quality of the gas encountered and proximity to infrastructure, position Walyering as a low-cost, quick-to-market development allowing Talon to efficiently complete the transition from explorer to producer.”
With drilling at Walyering-6 now complete, flow testing is expected to commence next month and the JV will use the results to inform final plant sizing and a final investment decision.
The Gurvantes XXXV Coal Seam Gas (CSG) Project is located in Southern Mongolia and is fully owned by TMK Energy (TMK). However, Talon is funding an initial four core hole drilling program to earn a 33 per cent interest in the project.
The company began drilling the initial core hole, Snow Leopard-1, in March which was completed to a depth of 675 metres and intercepted 44 metres of gassy coal in the upper coal seam between 406 and 461 metres.
Talon has now commenced drilling Snow Leopard-2 which is targeting two coal seams intersected in Snow Leopard-1.
“Results received to date from the Gurvantes XXXV drilling program whilst preliminary, have been very encouraging, and we expect to see more positive results from the remaining test work from Snow Leopard-1,” Mr Hauser said.
“Drilling is progressing well, and we look forward to results in the coming weeks which will give us a greater understanding of the potential for this exciting CSG opportunity.”
On the market, Talon was trading 6.25 per cent lower at 0.8 cents per share at 12:15 pm AEST.