Energy

Talon Energy drilling on all fronts, honing in on maiden resource estimates

Thu 14 Apr 22, 11:07am (AEST)
Drilling - Oil or gas drilling rig
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Key Points

  • Positive testing data will position Talon to deliver a maiden gas reserve estimate for the Walyering Project
  • Drilling at the Gurvantes XXXV Project has intersected high gas content and saturation
  • More positive results at Gurvantes could also position the project for a maiden resource later this year

Oil and gas hopeful Talon Energy (ASX: TPD) is ramping up drilling activities with a comprehensive flow testing program at the Walyering Conventional Gas Projected in the Perth Basin and a maiden drilling program at the highly prospective Gurvantes XXXV Project in Southern Mongolia. 

Mobilising Walyering 

Talon has a 45% interest in the Walyering Project, which is operated by the company’s joint venture partner, Strike Energy (ASX: STX).

The flow test program is scheduled to run over a 4-week period, gathering reservoir data to support a better understanding of the reservoir performance and resource.

On 6 December, pre-drill estimates at Walyering-5 confirmed the presence of high-quality, low CO2, conventional gas accumulation at the Walyering gas field.

Managing Director Colby Hauser said that continued positive well testing data will position Talon to deliver a maiden gas reserve estimate for Walyering.

Gurvantes XXXV drilling

The Gurvantes XXXV Project is located less than 20km from the Chinese-Mongolian border, within one of the most prospective coal seam gas basins, globally.

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The project is operated by Talon’s JV partner, TMK Energy (ASX: TMK). Talon can earn up to a 33% interest in the project.

Earlier this week, TMK announced that ongoing drilling activities had intersected 44m of gassy coal in the first well (Snow Leopard-1) as part of its high impact maiden drilling program.

Preliminary studies indicate high gas content and high gas saturation, consistent with the company’s current geological understanding. 

Snow Leopard-1 is one of four coreholes planned for the current drilling program, conducted over the next 3-4 months.

"Should drilling results continue to meet expectations we expect that the Gurvantes XXXV Project will book its Maiden Contingent Resource later in the calendar year," said Hauser.

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Written By

Kerry Sun

Finance Writer & Social Media

Kerry holds a Bachelor of Commerce from Monash University and was Vice President of the University Network for Investing and Trading (UNIT). He is an avid swing trader, and drawn to breakouts and technical set ups. Outside of writing and trading, Kerry is a huge UFC fan, loves poker and bouldering.

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