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Elixir Energy builds on Mongolia’s first gas discovery with exploration and appraisal program www.proactiveinvestors.com.au
Elixir Energy Ltd (ASX:EXR) continues to advance its coal bed methane exploration and appraisal program in North Asia, where it’s building on Mongolia’s first gas discovery.
Currently, the ASX-lister is invested in developing its wholly-owned Nomgon IX coal bed methane production sharing contract (PSC), just north of the Mongolian/Chinese border.
As part of its exploration and appraisal program, Elixir’s first well in its 2022 drilling campaign discovered a new coal-bearing sub-basin.
Since then, an appraisal well on the property has been spudded and two more drilling sub-contractors have signed up to accelerate the company’s work program.
Elixir is advancing Mongolia’s first coal bed methane discovery. Down the line, it believes the project could operate all year round.
Rapidly expanding activities
Speaking about progress to date, Elixir managing director Neil Young said: “Naturally we are pleased that our 2022 program has started off with a successful exploration well.
“As the Mongolian winter turns to spring, we are rapidly expanding our activities in the Nomgon PSC and are pleased to be adding two new drilling subcontractors to our overall team.”
Elixir’s exploration plans for 2022 include acquiring 322 kilometres of 2D seismic data. This program is underway, with 47 kilometres acquired to date.
The story so far
Elixir’s first well in its 2022 drilling campaign was the Tim-1S exploration well, targeting the identification of a new sub-basin just south of the Tavan Tolgoi mining complex.
This well was drilled to a total depth of 804 metres and logged 16 metres of coal and 30 metres of silty coal, yielding a total coal pay of 46 metres.
The drilling sub-contractor that drilled Tim-1S, Top Diamond Drilling LLC, has now moved its rig to the Tim-2 location — the appraisal well that was recently spudded — roughly 200 metres downdip of the Tim-1 coal intersection.
Notably, Tim-1S and Tim-2 were drilled as carry over wells from the PSC’s 2021 budget.
Elixir now has all the formal annual approvals to begin the 2022 program and recently re-signed Top Diamond Drilling — as well as a new drilling sub-contractor, Ellecohr LLC — to drill the company’s wells in the exploration and appraisal program for this year.
In addition, Elixir is contracting with the local subsidiary of international drilling firm Major Drilling to drill and complete the long term pilot production wells, due to be drilled in the middle of the year.
Published Date:2022-03-31
