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- LF-07 is producing more than 100m3 per day of gas with flow rates continuing to improve with no increase to minimum pump speeds
- Continuous gas flows commenced within six days of being placed on production, confirming LF-07 was ideally placed to be an early gas production well
- Key data for input into the reservoir model now collected, allowing surrounding wells (LF-04 and LF-06) pump speeds to be gradually increased over the coming week
- Total gas production from all seven pilot wells has doubled since completion of drilling and workover operations two weeks ago
Pursuant to the updated reservoir management plan, LF-07 and surrounding wells were being run at low pump speeds to gather additional data to be integrated into the reservoir model. With the initial data now collected, the pump speeds for the surrounding wells LF-04 and LF-06 will now be increased over the coming week.
As the pump speeds are further increased over the coming weeks and months, reservoir pressure is forecast to further reduce, and gas rates are expected to continue to increase as the reservoir pressure approaches the target critical desorption pressure.
Mr Dougal Ferguson, TMK Energy's Chief Executive Officer commented:
"The increase in gas flows recorded from LF-07 since the well was brought on production is a very positive sign, especially as we have been producing the well at minimum pump speeds since it was commissioned.
To become one of the Pilot Well Projects best gas producers in such a short time confirms the well was ideally located. The data we have gathered to date has already been inputted into the updated reservoir management plan, which will help to develop type curves for production wells and better predict the time required to reach critical desorption.
The Pilot Well Project is now producing at some of the highest rates we have seen to date and is expected to further increase over the coming weeks as the pumps are sped up in some of the wells. Based on current rates and trends of gas production, we expect this to lead to new record monthly gas production numbers in the near future."
The Pilot Well Project now has seven wells on production all of which are consistently producing gas at varying levels. Although not commercially significant at this stage, it proves that gas can be produced from the coals and the Company's focus is to now ensure the technical team collects the data necessary to make informed decisions on how to optimise gas and water production going forward.
The Company is further updating and refining the reservoir model with this new data to more accurately forecast both anticipated gas production rates of a typical production well (based on the reservoir parameters currently being observed) and estimate the time required to reach the necessary critical desorption pressures.
The Company will continue to keep Shareholders updated as new information comes to hand and production milestones are reached over the coming weeks and months.
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About TMK Energy Limited:
TMK Energy Limited is a gas exploration company publicly listed on the Australian Stock Exchange (ASX:TMK) and (OTCMKTS:TMKEF), and is actively engaged in the global energy sector. With a 100% interest in the Gurvantes XXXV Project located in the South Gobi Basin of Mongolia, and a 20% interest in the Talisman Deep Project, which encompasses the Napoleon Structure located in the Barrow-Dampier Sub-basin, TMK continues to solidify its position in the industry.
TMK's flagship project, the Gurvantes XXXV Project, a comprehensive Coal Seam Gas (CSG) exploration initiative covering an expansive area of approximately 8,400 km2 in the South Gobi basin of Mongolia, boasts an array of distinct features. These include the presence of multiple extensively thick, top-quality, bituminous rank coal seams, which not only surface across the area but also extend along an impressive east-west strike, spanning approximately 150 km. The Project area also includes six active coal mining operations, along with twenty-six coal mining leases and a multitude of coal exploration licenses, which combined have defined a very large coal resource.
Source:
TMK Energy Limited
Contact:
Dougal Ferguson
Chief Executive Officer
+61 8 6319 1900
dferguson@tmkenergy.com.au
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