TMK Energy Sets New Gas Production Record

0:00It's March 9th in Sydney, let's get into the news. TMK Energy just set a new daily gas production record at its pilot well project in Southern Mongolia. The Gervantes XXXB, coal seam gas site hit over 900 cubic meters per day or about 31,800 standard cubic feet per day. Day. That's a big jump from their previous best of 25,000 standard cubic feet per day, mostly thanks to their top well, LF07. The Starwell LF07 has seen a nearly 400% production boost in recent months and a ninefold increase since August last year. Company leaders decided to drill it up dip in the structure, and it's paying off big time. They already have spots picked for more identical wells to keep wrapping up output soon. TMK's Chief Executive, Dougal Ferguson, says their cautious optimism has turned into real excitement with these week by week gains. The new Sinshare Soren 26.9% to 16.5% on the ASX.

1:02Investors are clearly paying close attention to the momentum. February's average dip slightly to 583 cubic meters per day from January 593 due to pressure. Buildup tests on two other wells. Those tests gave key data on reservoir pressure drop or desorption, which looks promising. Only water output near 500 barrels per day is helping lower pressure and free up more gas. Looking ahead, TMK is nearing Mongolia's first commercial coal seam gas milestone. They aim to use the gas for on-site power generation and possibly sell surplus to the grid. The project holds Mongolia's largest gas resource at over 1200 billion cubic feet contingent, fitting the country's push for cleaner energy. The daily news now is powered by our sponsor. Some people meditate, I just lay down and press play, S-O-L-I, solelypillow.com.