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TMK drills third properly at Mongolia CBM undertaking
Australia’s TMK Power has began drilling the third properly, Snow Leopard-3 (SL-03), of its maiden drilling programme inside the Gurvantes XXXV coalbed methane (CBM) undertaking within the South Gobi basin of Mongolia, it mentioned on June 17.
SL-03 is deliberate to be drilled to a depth of roughly 650 m and is concentrating on the identical coal formations efficiently intersected in Snow Leopard-1 and Snow Leopard-2 wells. “The outcomes from SL-03 will present yet one more essential information level within the total delineation of the useful resource and the gasoline traits of the coal seams,” TMK mentioned.
CEO Brendan Stats mentioned the outcomes from the primary two wells Snow Leopard-1 and Snow Leopard-2 give a excessive diploma of confidence within the geological understanding of the undertaking.
TMK holds a 100% curiosity within the Gurvantes undertaking. Fellow Australian vitality firm Talon Power is incomes a 33% working curiosity within the undertaking below an current $4.65mn two-stage farm-out settlement executed in February 2021.
Preliminary funding of $1.5mn is allotted to the present four-well drilling and testing programme. The second stage of funding, being $3.15mn, is presently budgeted in direction of the pilot properly programme being deliberate for later this 12 months, ought to Talon elect to proceed with the second stage of the farm-out.
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