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TMK Energy (TMK) is focused on unlocking the potential of the South Gobi basin of Mongolia as it discovers gas and works towards developing the Gurvantes XXXV gas field.
CEO Brendan Stats presented to investors and other company leaders at the RIU Good Oil and Gas Energy Conference in Perth this week, discussing the Gurvantes XXXV coal seam gas project and its location within 40 kilometres of China.
“We’re just wrapping up our maiden exploration programme in Mongolia, we’ve completed four of the wells so far, we’ve got one to go, which we expect to complete in the next week,” he said.
“We talk about 100 per cent success rate because the four wells we’ve drilled have all hit thick coal, high gas, very good gas composition and high permeability.
“We believe these results are equal to or better than the developed coal seam gas fields around the world.”
Mr Stats has worked in Mongolia for about a decade.
“Half the story is Mongolia and its location to the big energy market next door in China and that’s what we’re trying to do, prove up a big gas resource next door to China,” he said.
TMK recently signed a memorandum of understanding with energy giant PetroChina to fast-track the project’s development.
TMK Energy is on track to put out a maiden contingent resource number next month.
Company shares have been trading around 1.1 cents.
