Past year: ▲ 27%(15.0c – 21.0c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
28 Jan 2022quarterly activities report● Neutral
December 2021 quarter: cash A$6.72m (A$9.7m last quarter), after A$1.67m from option exercises. Walyering-5 gas discovery confirmed; Gurvantes environmental assessment lodged after quarter end. Walyering-5 testing and Mongolian field work expected in Q1 2022.
17 Jan 2022security holder rights change● Neutral
Routine notice to holders of unlisted A$0.004 options, which expire 28 February 2022 unless exercised. The shares last closed at A$0.007 on 14 January 2022, above the exercise price. Exercise could bring cash to Talon.
12 Jan 2022regulatory community update▲ Good
Telmen completed community consultation and lodged the Gurvantes environmental impact assessment, with approval expected late January to early February 2022. Drilling of four cored holes stayed on track for mid-Q1 2022.
4 Jan 2022director officer appointment● NeutralMajor
David Casey became a Non-executive Director on 1 January 2022, retaining a Mongolia focus. His performance rights were cut to 160m from 327.7m, with 40m options at A$0.01 proposed subject to shareholder approval. Talon has begun a search for a new CEO.
8 Dec 2021drilling result▲ Good
Strike says Walyering-5 is cased and pressure tested, cost about A$8.5m gross (under the A$9m budget), and the completion allows each sand to be tested separately. A flow test is planned Q1 2022, then independent resource certification; a concept of up to 20 TJ/d from ~2 wells is being studied.
6 Dec 2021drilling result▲ GoodMajor
Strike reports Walyering-5 confirmed four gas-charged sands with 51m net pay, results exceeding its pre-drill expectations; CO2 under 1%. The A Sand sits higher than Walyering-1, suggesting a larger gas column. A production test is planned Q1 2022. Positive for Talon's 45%.
6 Dec 2021drilling result▲ Good
Talon repeats Strike's result: Walyering-5 confirmed four gas sands, 116m gross and 51m net pay, CO2 under 1%, better than expected, including two extra deeper gas sands. Talon says exploration now turns to other EP447 leads and Condor (P50 408 Bcf). Production testing is still needed.
29 Nov 2021drilling result▲ GoodMajor
Walyering-5 reached 3,435m, 8 days ahead of schedule. Strike saw elevated gas and good sands in the A and B targets plus deeper sands. Logging is under way, so the significance is not yet confirmed.
25 Nov 2021regulatory community update● Neutral
Telmen has started community consultation, the final step for the Gurvantes environmental approval, after COVID restrictions delayed site access. Approval is expected early Q1 2022, so drilling now looks like mid-Q1 2022, later than the December quarter earlier flagged.
24 Nov 2021director officer appointment● NeutralMajor
Managing Director David Casey will move to Executive Director by the New Year to take a new role outside the company, staying on the Board and working on Mongolia. Matt Worner continues as Executive Director. No replacement MD is named in the text.
24 Nov 2021drilling progress report● Neutral
Walyering-5 has reached 2,380m, with 9-5/8 inch casing run and cemented. Strike is about to drill the final section, expecting the A and B Sand targets at about 3,073m and 3,195m measured depth. No results yet.
19 Nov 2021other● Neutral
Text not readable.
15 Nov 2021drilling spud● NeutralMajor
Strike spudded the Walyering-5 appraisal well at 16:15 on 14 November 2021 using Ensign Rig 970, and was drilling ahead at 483m. It plans to drill to about 1,010m before running casing; Talon holds 45% of the joint venture.
15 Nov 2021drilling spud● Neutral
Talon notes Walyering-5 spudded on 14 November in EP447 (Talon 45%), targeting 3,138m subsea over about 33 days. It says success could re-rate the larger Condor structure. Repeats Strike's operator news.
2 Nov 2021drilling progress report● Neutral
Operator Strike reports Ensign Rig 970 began moving to Walyering-5 on 1 November. Spud is expected mid-November, with a proposed 33-day drilling and completion campaign to 3,138m subsea.
28 Oct 2021quarterly activities report● Neutral
September 2021 quarter: cash A$9.7m, with A$1.33m received from option exercises. The 45% EP447 interest transfer was completed. Walyering-5 spud is expected within weeks, and Gurvantes drilling is expected in the December quarter.
20 Oct 2021drilling progress report● Neutral
Walyering-5 site works are complete, but the Ensign Rig 970 is still at the Lockyer Deep well 230km north, with about two weeks needed to mobilise once released. The spud has slipped beyond the earlier late-September/early-October expectation.
1 Oct 2021asset acquisition disposition▼ BadMajor
The Rocket (P2392) and Skymoos (P2363) UK North Sea licences expired after extension applications failed, and no farm-out was signed in time. Talon blames COVID delays. This ends the Skymoos/Rocket extension and farm-out threads; other UK licences remain under review.
10 Sept 2021regulatory community update▲ GoodMajor
Mongolia granted the Gurvantes XXXV Exploration Licence on 9 September 2021, for 10 years with a possible 5-year extension. Talon says it is ahead of expectations; the environmental study is still to finish, with drilling expected next quarter and a maiden contingent resource early 2022.
8 Sept 2021investor presentation● Neutral
RIU Good Oil conference presentation, 'Building a next generation energy company'. The visible text is only disclaimers and competent person statements, with no new figures or news.
26 Aug 2021drilling scheduled● Neutral
Strike has started site works for Walyering-5 in EP447, where Talon is earning 45% and says it is fully funded. Spud on Ensign Rig 970 is expected late September to early October, slightly later than the earlier September target. Success could lift the Condor resource (P50 408 Bcf).
18 Aug 2021resource reserve update▲ GoodMajor
Independent assessor NSAI booked a maiden Gurvantes XXXV prospective resource: risked best case 5.96 TCF (unrisked 19.96 TCF) over 2,235 km² of the 8,400 km² area. Talon's 33% share would be 1.97 TCF risked, if the farm-in completes. Still undrilled.
16 Aug 2021asset acquisition disposition● NeutralMajor
Talon takes 60% of GreenFlame Energy, which holds a licence for a patented superheated steam technology to boost coal seam gas recovery while storing CO2. GreenFlame has a conditional deal to buy Strike's 67% of PEL96 (Cooper Basin). Initial work is to be funded from existing cash; field activity is targeted for early 2022.
16 Aug 2021investor presentation● Neutral
Investor presentation on the GreenFlame superheated steam technology acquisition announced the same day. The visible text is a cover note and disclaimers, with no new figures.
28 July 2021regulatory community update▲ GoodMajor
The Gurvantes XXXV PSA was awarded to Telmen at a signing ceremony in Ulaanbaatar on 27 July 2021, resolving the pending award. Talon and Telmen now move to finalise operating agreements, a resource certification and this year's exploration program.
27 July 2021half year report● Neutral
Half-year to 30 June 2021: loss of A$2.31m (A$175k in prior comparison period) and cash up to A$9.50m from A$4.66m at December 2020. Walyering-5 is still due to spud in the September quarter. UK farm-out process is ongoing.
26 July 2021quarterly activities report● Neutral
June 2021 quarter: cash A$9.5m, plus a A$1m deposit already paid to Strike. Walyering-5 is on track to spud in September 2021, the Condor survey is done, and a Skymoos/Rocket licence extension was sought. Talon also raised A$678k from option exercises.
12 July 2021regulatory community update▲ GoodMajor
Mongolia's Cabinet approved the Gurvantes XXXV coal bed methane PSA on 7 July, after COVID delays; formal issue is expected within weeks. To extend Telmen's exclusivity, Talon will issue 100m options at A$0.01, expiring in 3 years. Farm-in agreements are still being prepared.
22 June 2021regulatory community update▲ Good
Talon completed a low-cost airborne electromagnetic survey over the 100%-owned Condor structure, satisfying the SPA-0081 work requirement and allowing later conversion to a longer-tenure permit. Resource estimates are unchanged (P50 408 Bcf; P10 710 Bcf gas, 39 MMbbl condensate). This delivers the survey condition from the Macallum deal.
3 June 2021director officer appointment● Neutral
David Lim, a finance and compliance professional with over 15 years in ASX resources companies, is appointed joint Company Secretary with immediate effect, alongside Lauren Nelson. Administrative.
