Market Herald logo

Subscribe

Be the first with the news that moves the market
  • TMK Energy (TMK) sees further positive results from its Snow Leopard-02 (SL-02) well at the Gurvantes XXXV coal seam gas project in Mongolia’s South Gobi Basin
  • The company says drilling has intersected a further 21 metres of coal in the lower seam from a depth of 457 metres to 478.5m
  • This is in addition to the 70 metres of coal that was intersected in the upper seam at SL-02 and brings the total net coal thickness intersected in the well to 91 metres
  • TMK will now move the rig to Snow Leopard-03 — the third of four planned wells in this exploration drilling program.
  • TMK Energy shares are trading grey at 1.1 cents per share at 10:36 am AEST

TMK Energy (TMK) has seen further positive results from its Snow Leopard–02 (SL-02) well at the Gurvantes XXXV coal seam gas project in Mongolia’s South Gobi Basin.

Drilling has intersected a further 21 metres of coal in the lower seam from a depth of 457 metres to 478.5m, according to the company.

This is in addition to the 70 metres of coal that was intersected in the upper seam at SL-02 and brings the total net coal thickness intersected in the well to 91 metres.

TMK has sampled coal cores from the upper and lower coal seams, and initial results indicate that both seams contain high gas contents.

Results show high methane concentrations of between 95 and 98 per cent, averaging 97 per cent, and low carbon dioxide values of between 0.6 and 3.3 per cent, averaging 1.4 per cent.

The gas composition results are consistent with results from SL-01, where methane concentrations in gas samples averaged 96 per cent.

With drilling at SL-02 now completed after reaching a total depth of 540 metres, TMK will move the rig to Snow Leopard-03 — the third of four planned wells in this exploration drilling program.

CEO Brendan Stats said the maiden exploration drilling program at Gurvantes had been “highly successful”.

“The results to date are extremely positive and have exceeded our expectations with respect to the very thick coal intersections, high gas contents, exceptional gas quality,
and excellent permeability results recorded over the upper coal seam in Snow Leopard – 02,” Mr Stats said.

“Our focus has now shifted to the fast-tracking of the pilot production system and early
commercialisation opportunities that now clearly exist given the highly encouraging results to date.”

Fellow ASX-listed Talon Energy (TPD) is earning a 33 per cent working interest in the project under a US$4.65 million (A$6.4 million) two-stage farm-out agreement with TMK.

TMK Energy shares were trading grey at 1.1 cents per share at 10:36 am AEST.

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

" EBR Systems (ASX:EBR) completes interim enrolment for SOLVE trial

EBR Systems (ASX:EBR) has completed interim patient enrolment in the pivotal SOLVE-CRT IDE trial of WiSE.
The Market Herald Video

" MONEYME (ASX:MME) lifts funding capacity

MONEYME (ASX:MME) has increased funding facilities to $1.65 billion, with an undrawn capacity of $388 million.
The Market Herald Video

" INOVIQ (ASX:IIQ) granted SubB2M US patent for diagnostic applications

INOVIQ (ASX:IIQ) has been granted a US patent that covers its SubB2M technology and provides intellectual…

" Lithium Australia’s (ASX:LIT) Envirostream receives first cash rebate for B-cycle scheme

Lithium Australia's (ASX:LIT) subsidiary, Envirostream Australia has received its first cash rebate for the B-cycle scheme.