TMK’s exploration program goes four-for-four

TMK has maintained its perfect record with the final well in its initial four well program at the Gurvantes XXXV CSG project intersecting 40m of gassy coal within the lower seam.

Preliminary results from samples indicates that the coal – located from a depth of 287m – contains moderate to high gas contents broadly consistent with results from the earlier Snow Leopard 1 to 3 wells.

This coal presents as a single, high quality, clean and homogenous coal seam/unit.

Additionally, while TMK Energy (ASX:TMK) had drilled Snow Leopard-4 specifically to intersect the lower coal seam at a shallower depth to get additional data on gas content and permeability of the lower seam, the well also intersected 16m of coal at the top of the well, which represents the basal section of the upper coal seam.

Drill stem testing has been completed and results will be interpreted shortly to provide information on the coal interval’s permeability while drilling has resumed on the SL-03R well to test the lower seam adjacent to where the upper seam was intersected in SL-03.

“The exploration results continue to impress, and we are especially pleased to have made such fast progress on completing the drilling and testing of the SL-04 well,” chief executive officer Brendan Stats said.

“We continue to drill ahead on SL03R well for additional data on the lower coal seam and hopefully that will be achieved in the coming weeks which will then complete the initial exploration drilling program under the Talon farm-in agreement.

“Following that, we look forward to booking a maiden contingent resource and focussing our efforts on execution of the pilot well program where we hope to be able to produce gas to surface in a relatively short timeframe and prove up the commerciality of the project.”

Talon Energy (ASX:TPD) is earning up to 33% working interest in the project by spending US$4.65m under a two-stage farm-in.

The second stage of funding – US$3.15 million – is currently budgeted towards the pilot well program being planned for later this year, should Talon choose to proceed.

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This article was developed in collaboration with TMK Energy (ASX:TMK), a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.