Energy

Talon’s Walyering-6 proves itself as a future gas production asset

Wed 20 Jul 22, 1:13pm (AEST)
Generic image of a gas pipeline
Source: Unsplash

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Key Points

  • Talon’s most recent flowtest at Perth Basin has proven the Walyering-6 well as production-class asset
  • Results will be worked into pending RISC gasfield reserve estimates
  • FID for the Walyering gasfield on near horizon with majority partner Strike Energy

Talon Energy’s (ASX:TPD) Walyering-6 gas well has been cemented as a future production well for the company’s Perth Basin gasfield development. 

Flow testing conducted by partner Strike Energy (ASX:STX) logged a rate of 35 million square cubic feet per day (mmscfd) reporting high quality gas. 

The Walyering-6 well taps into both the Cadda and Cattamarra gas reservoirs, with results providing evidence of high-impact geological gas deposits. 

The 35mmscfd results will be included into an impending RISC approved independent reserves and resources estimate set for Walyering on the very near horizon. 

For the unfamiliar, RISC estimates are the equivalent of JORC estimates for mineral exploration projects. 

Strong results pick up the pace on-site

Walyering-6 is the most recently tested well at Talon’s Perth Basin gasfield, and today’s results boost the profile of projected commercial opportunity.

Should a sizeable boost to the RISC estimates be awarded by W-6, the partnership will be better placed to meet FID. 

Talon and Strike, the latter holding majority interest, both expect to start producing gas in the early-mid 2020s. 

A snapshot from the earlier Walyering-5 flowtest
A snapshot from the earlier Walyering-5 flowtest

Mongolian operations ongoing

Talon Energy may ring a bell to the ears of readers: the company is one of very few Australian entities looking for CSG in Mongolia’s South Gobi.

So far, a partnership between Talon and TMK Energy (ASX:TMK) has had great success, with every maiden well spud in the Gobi so far flowing gas.

As far as gas exploration is concerned, progress at the Gobi-based Gurvantes project reflects a 100% success rate.

Talon Energy was a Market Index client at the time of publishing. All coverage contains factual information only and should not be interpreted as opinion of financial advice.

 

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Written By

Jonathon Davidson

Finance Writer

Jonathon is a journalism graduate and avid market watcher with exposure to governance, NGO and mining environments. He was most recently hired as an oil and gas specialist for a trade publication. Email Jon at [email protected]arketindex.com.au.

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