? Third and final pilot production well (LF-04) of current campaign has
been successfully drilled and cased to a total depth of 503 metres
? Drilling rig currently demobilising, with all three pilot production wells
having been drilled safely, as planned, on time and on budget
? LF-04 intersected approximately 60 metres of net coal, on prognosis
and consistent with the other five existing pilot production wells
? Installation of downhole production tubing, rods and pump on LF-05 is
nearing completion, with LF-06 and LF-04 to follow in the coming days
? Commissioning of the three additional pilot production wells on track
to be completed by the end of November, doubling the number of
producing wells to accelerate depressurisation of the reservoir
TMK Energy Limited (“TMK” or the “Company”) is pleased to announce that the third
and final pilot production well drilled as part of the 2024 drilling campaign at the Gurvantes XXXV Coal
Seam Gas (CSG) Project, has been successfully drilled to a total depth of 503 metres and has
intersected approximately 60 metres of net coal, which is as per prognosis and consistent with the
other five surrounding pilot production wells.
This concludes the drilling operations for the 2024 campaign and is another significant step towards
de-risking the project. The drilling rig is being demobilised from site with the current activities being
the installation of downhole completion equipment and commissioning of the new wells on production.
Completion of the wells is already underway with the installation of the production tubing, Distributed
Temperature Sensing (DTS) technology and down hole pumps nearing completion on LF-05, with the
other two wells to follow. The DTS will be installed in two (LF-05 and LF-06) of the three new wells in
the first instance and can be redeployed in any of the other pilot production wells if required.
Mr Dougal Ferguson, TMK Energy’s Chief Executive Officer commented:
“With three new pilot production wells drilled and securely behind pipe, it is yet another significant
step towards being able to meet our target of demonstrating that commercial gas flows can be
achieved from the coals within the upper coal seam at the Lucky Fox pilot well complex, which
represents only a very small portion of our overall contingent resource in the Nariin Sukhait area.
The next stage of completion and commissioning of the three new wells is underway and all six pilot
production wells are scheduled to be on production by the end of this month. Our thanks go to both
our team on the ground in Mongolia, but also to Major Drilling which has done a fantastic job to deliver
the wells safely and effectively.
We are now fully funded to see this production testing continue through to potential commercial
production rates and eagerly look forward to the results over the coming few months.”
For the purposes of ASX Listing Rule 15.5, the Board has authorised for this announcement to be
released.