- TMK Energy (TMK) begins its Pilot Well drilling program at its Gurvantes project in Mongolia with the spudding of the Lucky Fox-1 (LF-01) pilot production well
- Under the Pilot Well program, TMK will drill three production wells centred around the company’s SL-02 exploration well established from maiden exploration in 2022
- The three wells will take seven weeks to drill, after which TMK will install downhole pumps before kicking off commissioning and dewatering
- TMK’s farm-in partner, Talon Energy (TPD), has funded the first US$3.15 million (A$4.7 million) of the US$3.5 million program
- TMK shares are up 6.25 per cent and trading at 1.7 cents at 11:35 am AEST
TMK Energy (TMK) has kicked off its Pilot Well drilling program at its Gurvantes CSG project in Mongolia with the spudding of the Lucky Fox-1 (LF-01) pilot production well.
LF-01 began operations on April 12 following the mobilisation of a drill rig to the site, which was contracted by Major Drilling, one of the world’s largest international drilling companies.
Under the Pilot Well program, TMK will drill three individual production wells to be spaced approximately 200 metres apart and centred around the company’s maiden SL-02 exploration well, established from explorations in 2022.
“Our first exploration well (Snow Leopard-01) was drilled approximately 12 months ago, so to now be commencing our first pilot production well in such a short timeframe speaks to the quality of both the asset and the team we have in place,” TMK Chief Executive Officer Brendan Stats said.
Once drilling is completed after seven weeks, downhole pumps will be installed and surface facilities will be connected to the wells, which are expected to take four weeks from the completion of drilling.
The pilot well pumps will then undergo a dewatering process in a controlled manner, with TMK expecting its first gas breakthrough within one or two months from the start of gas production.
The Pilot Well program is primarily funded by TMKs’ farm-in partner, Talon Energy (TPD).
Talon Energy elected to enter into stage two of its farm-out agreement in early December 2022 to fund the first US$3.15 million (A$4.7 million) of the US$3.5 million Gurvantes XXV CSG project.
TMK shares were up 6.25 per cent and trading at 1.7 cents at 11:35 am AEST.