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- TMK Energy (TMK) begins drilling at the Lucky Fox-2 well as part of its pilot well drilling program at the Gurvantes XXXV CSG project in Mongolia
- The project is held in a joint venture, with Talon Energy (TPD) holding 33 per cent and primarily funding the project, while TMK owns the remaining 67 per cent and acts as operator
- Having set the surface conductor, TMK has now drilled the well ahead at 138 metres in a 12.25-inch hole
- Site works are underway to install equipment to undertake a six-month production test once the drilling work and pump installation wrap up towards the end of June
- TMK Energy dips 3.33 per cent to 1.5 cents, while Talon Energy is up 3.13 per cent to 16.5 cents at 12:48 pm AEST
TMK Energy (TMK) has begun drilling at the Lucky Fox-2 well as part of its pilot well drilling program at the Gurvantes XXXV CSG project in the South Gobi Basin in Mongolia.
The project is held in a joint venture, with Talon Energy (TPD) holding 33 per cent and primarily funding the project, while TMK Energy owns the remaining 67 per cent and acts as operator.
TMK began drilling Lucky Fox-2 late on May 3, marking the second of three planned production wells being undertaken in the Nariin Sukhait area.
Lucky Fox-2 is positioned around 200 metres to the east-southeast of Lucky Fox-1, which was recently completed in the production interval, providing 60 metres of gassy coal.
Having set the surface conductor, TMK has now drilled the well ahead at 138 metres in a 12.25-inch hole.
TMK Energy CEO Brendan Stats said with the second well now underway, the team was quickly moving towards an “exciting period”.
“Under the current schedule, we expect to have completed all drilling activities by the end of this month, with the installation of the downhole pumps and tie-in of the three production wells due to be completed during June 2023,” Mr Stats said.
“Based on the results to date, I am confident that the project will deliver gas breakthrough in a relatively short period of time and that we will be able to take the next steps towards early commercialisation, in turn demonstrating the potential of the Gurvantes project.”
Site works are now underway to install equipment to undertake a six-month production test once the drilling work and pump installation have wrapped up towards the end of June.
TMK said it was confident the dewatering process would be “relatively short” and forecast an early gas breakthrough from the Lucky Fox production well complex once the wells were all placed on pump and fully operational.
TMK Energy dipped 3.33 per cent to 1.5 cents, while Talon Energy was up 3.13 per cent to 16.5 cents at 12:48 pm AEST.
