Past year: ▲ 43%(4.20c – 15.0c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
23 Oct 2020drilling progress report▲ GoodMajor
Nomgon-2 final gas content averages 8.6 m3/t on a dry ash free basis, close to Nomgon-1's 8.9. Nomgon 5S had mechanical problems and will be re-drilled nearby at nominal cost. A second rig spuds the Hutul 1S exploration strat-hole, 20 km east of Nomgon-1, on 24 October.
17 Sept 2020drilling spud● Neutral
A fifth appraisal strat-hole, Nomgon 5S, spudded on 16 September, added after positive results from the earlier wells. Three to four exploration strat-holes in new areas follow before year-end. Seismic is fully processed and under interpretation. Nomgon-2 lab results are still due.
1 Sept 2020drilling result▲ Good
Final logs lift Nomgon-3S net coal to 88 m. Nomgon-4S found 35 m of coal at only 202 m depth, shallower than planned, possibly due to local thrusting. Seismic processing is nearly done, and exploration drilling is due to begin this month.
20 Aug 2020drilling result▲ GoodMajor
Nomgon-2's main seam averages 5.3 m3/t raw gas, matching Nomgon-1, and permeability tests were significantly better, up to 640 mD.m. Strat-hole Nomgon-S3 found about 78 m of coal on the northern limb. Seismic finished, and pilot production planning for 2021 began.
29 July 2020drilling result▲ GoodMajor
Nomgon-2 reached 550 m total depth, logging 91 m of net coal, 51 m in the main seam, more than Nomgon-1's 71 m. Early gas readings match Nomgon-1. Step-out strat-holes follow, starting with the northern limb. Gas and permeability figures are still to come.
15 July 2020drilling progress report● Neutral
Nomgon-2 is drilling ahead and has already hit coals, with target depth expected in two to three weeks. Seismic is 49 of 106 km complete. The announcement also re-issues the Nomgon-1 results table at ASX's request, with the 8.9 m3/t figure added.
10 July 2020drilling spud▲ GoodMajor
The Nomgon-2 appraisal core-hole spudded on 9 July, with total depth expected around end-July or early August. Seismic acquisition of 106 km began 30 June in the north-west of the licence. New coal outcrops have also been identified across the licence.
26 Feb 2020drilling result▲ GoodMajor
Nomgon-1 is declared a coal seam gas discovery, the first in Mongolia, with average raw gas content above 5 m3/t in a 49 m gross seam. Permeability tests met discovery requirements. The well is plugged and abandoned; delineation planning and partner talks follow.
5 Feb 2020drilling result▲ GoodMajor
Nomgon-1 reached 491 m total depth with 82 m net coal by geologists' estimate, including a 51 m seam, and visibly better coal quality than Ugtaal-1. Gas bubbled from cores. Gas content and permeability test results are still to come.
20 Dec 2019drilling result● Neutral
Ugtaal-1 logging confirmed 43 m net coal, with a 20 m thickest seam. BO-CH-2 logged only 6 m net coal. All three Ugtaal-area wells are finished. Permeability results due next week, and the next well is expected to spud in about two weeks.
9 Dec 2019drilling result▲ GoodMajor
Ugtaal-1 core-hole reached total depth of 752 m with an estimated 43 m of net coal and 99% core recovery, gas mainly methane. Gas content and permeability results are still to come. BO-CH-2 has reached the Permian and first coals.
25 Nov 2019drilling progress report● Neutral
Duplicate of the 25 November update: Ugtaal-1 at 324 m with 20.6 m of net coal, gas testing under way, target depth 600 m. BO-CH-2 at 574 m. No new information.
25 Nov 2019drilling progress report▲ Good
Ugtaal-1 at 324 m, with 20.6 m of net coal noted so far and gas visible in cores. Desorption testing has begun, with final numbers about 60 days away. Target depth is 600 m. BO-CH-2 is at 574 m.
18 Nov 2019drilling progress report▲ GoodMajor
Ugtaal-1 core-hole spudded on the night of 11 November, after repeated delays, and was at 122 m with thin coal stringers. BO-CH-2 reached 408 m. Both rigs are winterised and the gas-testing lab is set up.
11 Nov 2019drilling result▲ Good
BO-CH-1 chip-hole finished at 738 m, finding a 490 m coal-prospective Permian section, 7 m of net coal and gas bubbling from samples. Ugtaal-1 core-hole, the main well, spuds later today. BO-CH-2 is at 279 m.
4 Nov 2019drilling progress report▼ Bad
Ugtaal-1 core-hole spud slips again, to the next few days, because of mechanical issues and the rigs being winterised. BO-CH-1 was at 729 m and BO-CH-2 at 198 m. Both chip-holes are drilling slower than planned.
28 Oct 2019drilling progress report● Neutral
BO-CH-1 was at 583 m and is being drilled deeper, through the Permian to basement, because of the coal seams intersected. BO-CH-2 spudded 23 October. Ugtaal-1 spud slips again to the next few days, awaiting the rig.
21 Oct 2019drilling progress report● Neutral
BO-CH-1 is drilling slower than planned; BO-CH-2 spuds 21 October and Ugtaal-1 is due to spud this week after BO-CH-1. Seismic processing is complete, with preliminary results in 30 days. Resource certification is now targeted for early 2020.
11 Oct 2019drilling spud▲ GoodMajor
2019 drilling starts with the BO-CH-1 chip-hole, a cheap stratigraphic well. The program expands to 2-4 chip-holes plus two firm core-holes, with two rigs and an option for a third core-hole. Ugtaal-1 was expected to spud around end September or early October.
16 Sept 2019drilling progress report▲ Good
Seismic survey finished, with 131 km of 2D data acquired; processing takes about six weeks. Drilling equipment is arriving and Ugtaal-1 is still expected to spud around end September or early October. A second well site is due by month end.
19 Aug 2019drilling scheduled▲ Good
Location of the first corehole, Ugtaal-1, is finalised using geological modelling and early seismic results. A second well location in the same area is due in coming weeks. Spud is expected in about 4-6 weeks.
12 Aug 2019drilling progress report▲ Good
Seismic acquisition has started at Nomgon IX. Early test data show a possible coal sequence at about 700 m depth, a target for drilling. Fieldwork runs to mid-September, final results mid-October, drilling still late September or early October.
2 May 2019drilling scheduled▲ Good
Elixir invited six drilling contractors to tender for a minimum two-well corehole program at Nomgon IX later in 2019, after seismic. Tender closes 31 May. Seismic contract negotiations are well advanced.
1 Feb 2019farm in farm out completion▲ GoodMajor
Elixir confirms Entek exercised its option to buy the Alaskan subsidiary for about 185m Entek shares. Elixir plans to distribute them, roughly 1 Entek share per 2 Elixir shares, after a capital reduction vote. Meetings in March; record date late March.
1 Feb 2019farm in farm out completion▲ GoodMajor
Entek says it exercised its option on 31 January 2019 to buy Elixir's Alaskan subsidiary Emerald House, covering 149,733 acres, for about 185m Entek shares (up to 200m cap). Both companies' shareholder meetings are expected in March, with completion shortly after.
29 Nov 2018farm in farm out agreement● NeutralMajor
Entek Energy (ASX:ETE) announced an option to buy Elixir's Alaskan leases for up to 200m convertible preference shares in Entek, exercisable by 31 January 2019. Entek pays a $50,000 option fee. Mr Ferguson would move to Entek on completion.
19 Nov 2018resource reserve update▲ GoodMajor
Independent firm ERCE put Nomgon IX's best-estimate unrisked recoverable prospective gas resource at 40.1 TCF (low 13.6, high 117.2). Risked best estimate is 7.6 TCF, at a 19% chance of discovery. This is undiscovered gas, and the first such figure for the permit.
15 Aug 2017drilling result▼ BadMajor
Rodwell 14-31 will be plugged and abandoned after logs and the test showed the oil-bearing reservoirs are tight and unlikely to produce commercial quantities. Elixir's 25% share of the cost is about US$112,500. Resolves the first Petra well as a failure.
14 Aug 2017drilling result● NeutralMajor
Rodwell 14-31 at Petra reached 7,630 ft and found oil shows over a gross 10 metres in the primary target. An initial drill stem test suggests the reservoir is tight; logs will decide whether to test further or abandon. Commercial significance is not yet known.
7 Aug 2017drilling spud▲ GoodMajor
Rodwell 14-31 at Petra, Colorado, spudded and was drilling at about 900 feet, with surface casing set at 508 feet. Elixir holds 25% with Apollo operating at 75%. Primary targets are expected in about 15 days, with deepest at about 7,500 feet.
