? Three new pilot production wells (LF-04, LF-05 and LF-06) successfully
completed and ready for production
? Distributed Temperature Sensing (DTS) system installed, tested and
ready for initial data collection from LF-05 and LF-06
? Connection, calibration and testing of production metering skids
underway with two of the three new wells completed to date and final
commissioning processes underway for all wells
? Startup of the three additional pilot production wells on schedule to
commence by the end of November
TMK Energy Limited (“TMK” or the “Company”) is pleased to report that excellent
progress continues to be made with all three recently drilled pilot production wells at the Gurvantes
XXXV Coal Seam Gas (CSG) Project now completed for production, with final commissioning
currently underway.
The successful drilling and completion of LF-04, LF-05 and LF-06 safely, on time and on budget is a
significant achievement for the Company and a major step forward for the Project. The three
additional production wells will be available to complement the existing three production wells (LF-01,
LF-02 and LF-03), doubling the production capacity of the pilot well complex.
Connection, calibration and testing of the metering skids is the final step to be undertaken before the
additional three production wells commence production. All six production wells, including the existing
three production wells, which are currently running on idle speed to avoid any potential reservoir
damage, will be brought on production slowly over the coming 6-8 weeks in accordance with the
Company’s reservoir management plan.
Mr Dougal Ferguson, TMK Energy’s Chief Executive Officer commented:
“We are now completing the final startup procedures for the three recently drilled pilot production
wells, after which all six production wells will be working together to accelerate the pathway to
reaching the critical desorption pressure required to materially increase the gas production rates.
TMK is now the clear leader in the CSG industry in Mongolia and the Company most likely to be the
first in the race to demonstrate the commercial potential of CSG in Mongolia and the enormous
resources that exist in our Project area.
Delivering this highly significant 2024 drilling program safely, on time and on budget has been a huge
team effort and I again commend everyone involved, particular our staff who have worked tirelessly
over recent months. It is a very exciting time for the Company, our employees and our shareholders
and we look forward to a successful outcome in Q1 2025.”
For the purposes of ASX Listing Rule 15.5, the Board has authorised for this announcement to be
released.
