TMK Energy (ASX:TMK) - CEO, Brendan Stats
CEO, Brendan Stats
Source: LinkedIn
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  • TMK Energy (TMK) and Talon Energy (TPD) complete testing of an initial well in the Gurvantes XXXV coal seam gas project in Mongolia
  • Drilling and testing of the Snow Leopard target was completed to a depth of 675 metres, with analysis of the data and interpretation of the results continuing
  • During the testing, a gas breakout was observed, which supports the company’s understanding that the coals have high gas saturation
  • The next well is now planned to target the same coal formations intersected at Snow Leopard, with drilling expected to launch next week
  • TMK Energy shares have fallen 10 per cent, trading at 0.9 cents and TPD shares are trading flat at 0.8 cents

TMK Energy (TMK) has completed its testing of the Nariin Sukhait area of the Gurvantes XXXV coal seam gas project in the South Gobi Basin of Mongolia.

The company shares the project with Talon Energy (TPD), which earns a 33 per cent working interest in the project.  

Drilling and testing of the company’s initial well, Snow Leopard, was completed to a depth of 675 metres, with a total of 60 metres of net coal intersected at the well.

Tests were performed across selected intervals at the well, with analysis of the data and interpretation of the results continuing. During the testing, a gas breakout was observed, which supports the company’s understanding that the coals have high gas saturation.

Further results on permeability indications from the testing are expected to be available in the coming week.

Brendan Stats, TMK Energy’s Chief Executive Officer said the company is pleased to have completed the first well in its four well program safely, and with a successful result.

“The gas content and composition results from this first well provide us with great confidence moving forward and we anticipate intersecting more thick gassy coals as we progress with the program,” Mr Stats said.

Meanwhile, desorption testing of coal core to obtain definitive gas content data is ongoing, as the cores continue to produce gas.

Gas composition sampling and gas chromatography testing has been ongoing, with results confirming the coal seam gas has high methane concentrations between 94.4 per cent and 98.8 per cent, along with low carbon dioxide values between 0.3 per cent and 5.1 per cent.

The next well is now planned to target the same coal formations intersected at Snow Leopard. Drilling and testing of the new target, located around five kilometres east of the first, is expected to take approximately four weeks, starting from next week.

TMK Energy shares fell 10 per cent, trading at 0.9 cents at 11:33 am AEST. Meanwhile, Talon Energy shares were trading flat at 0.8 cents.

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