Join our daily newsletter At The Bell to receive exclusive market insights
- Talon Energy (TPD) awarded an exploration licence for the Gurvantes XXXV Coal Seam Gas Project in Mongolia
- The licence was awarded by the Ministry of Mining and Heavy Industry and has an initial term of 10 years
- The granting of the exploration licence is an important step in progressing activities to allow field operations to commence
- Talon is trading 5.56 per cent up at one cent per share at 12:23 pm AEST
Talon Energy (TPD) has been awarded an exploration licence for the Gurvantes XXXV Coal Seam Gas Project in Mongolia.
The licence was awarded by the Ministry of Mining and Heavy Industry, on September 9, and has an initial term of 10 years.
The granting of the exploration licence is an important step in progressing activities to allow field operations to commence.
Following the grant, one of the main focuses will be completing the environmental impact study (EIS), which will ease the commencement of exploration activities on site.
The EIS is well advanced and Talon is expecting the exploration program to commence next quarter.
Gurvantes XXXV covers an area of 8400 square kilometres and is in what is considered one of the world’s most prospective coal seam gas basins.
Managing Director Davis Casey said this was an important step and another milestone.
“It is yet further evidence of the desire of the Mongolian government to support the emerging coal seam gas industry in Mongolia, and augers well for Talon and Telmen to book what I believe will be a significant maiden contingent resource early next year,” Mr Casey said.
Talon was trading 5.56 per cent up at one cent per share at 12:23 pm AEST.
