TMK delivers resource estimate for Mongolia CBM project
Australia’s TMK Energy has delivered its maiden independently assessed contingent resource estimate for the Nariin Sukhait area within the Gurvantes XXXV coalbed methane (CBM) project in the South Gobi basin in Mongolia, it said on November 9.
The company has also delivered an updated prospective resource estimate for the Nariin Sukhait prospect area completed by NSAI.
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NSAI has confirmed 1C contingent resources of 398bn ft3, 2C contingent resources of 1,214bn ft3 and 3C contingent resources of 2,361bn ft3. Combined contingent and prospective resources have increased by approximately 500bn ft3 or 32% for the 70 km2 Nariin Sukhait area, following the 2022 drilling programme.
There has been an overall increase of about 9% for combined contingent and prospective resources for the entire 8,400 km2 Gurvantes project.
TMK said it is currently planning a significant 2023 exploration programme with the aim of converting more of the remaining prospective resources into contingent resources, along with conversion of 3C resources into the 1C or 2C category. Additionally, the company said it is well advanced in planning for its initial pilot well programme expected to commence drilling in the first quarter of 2023.
“The contingent resource estimate has significantly exceeded our expectations and obviously provides us with huge confidence in the scale and future potential commerciality of the project going forward,” TMK CEO Brendan Stats said. “We are now focused on the pilot well program which aims to flow gas to surface and will be another major step forward in demonstrating the commerciality of the project.”
TMK holds a 100% interest in the Gurvantes project. Fellow Australian energy company Talon Energy is earning a 33% working interest in the project under an existing two-stage farm-out agreement.