Past year: ▲ 5900%(0.20c – 16.5c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
15 Sept 2022drilling result▲ GoodMajor
Snow Leopard-3R hit about 80m of gassy lower coal (455-535m), giving ~140m total net coal, the thickest so far. SL-05 is drilling with ~37m of shallow, lower-gas coal. Maiden contingent resource now expected early Q4 2022; Talon yet to elect stage 2.
1 Sept 2022drilling scheduled● Neutral
TMK added a fifth well, Snow Leopard-5, at about US$100,000 and ~650m depth, agreed with Talon. The maiden contingent resource is now expected to be completed in October 2022. SL-03R needs about two more weeks.
29 Aug 2022drilling result▲ Good
Snow Leopard-4 found about 40m of coal in the lower seam (287-327m), with preliminary gas content of roughly 5-10 m3/t. Drill stem tests are done and results pending. SL-03R drilling resumed; once it finishes, Talon has 90 days to elect stage 2 (US$3.15m).
18 Aug 2022drilling result▲ Good
Final gas content: SL-02 averaged 9.5 m3/t and SL-03 9.8 m3/t; SL-01 gas saturation averaged 84%. A second rig started SL-04 on 16 August, while SL-03R is delayed by rig breakdown and Covid crew shortages. Resource booking still targeted for 2022.
28 June 2022drilling result▲ Good
Snow Leopard-3 intersected about 47m of coal in the upper seam from 190m, with high preliminary gas content and permeability testing done. All three wells have found thick coal over 6km. Drilling is paused at 318m for a fishing operation.
17 June 2022drilling spud● Neutral
Snow Leopard-3, third of four wells, is drilling ahead at 30m, about 3km west of SL-2, targeting ~650m. Lower-seam permeability testing at SL-2 is complete with results pending. Pilot well planning continues for later this year.
8 June 2022drilling result▲ GoodMajor
Snow Leopard-2 reached total depth of 540m with 91m net coal (70m upper, 21m lower seam at 457-478.5m). Methane averages ~97%. Rig moves about 3km west to Snow Leopard-3; company says focus is shifting to fast-tracking the pilot.
23 May 2022drilling result▲ GoodMajor
Snow Leopard-2 hit about 70m of gassy coal from 167m depth, with high preliminary gas content at shallow depth. Final SL-1 gas contents came in at 11.4-15.2 m3/t (average 13.2), above expectations; SL-1 flow capacity was only ~4.1 mD.m after test problems.
16 May 2022drilling spud▲ Good
Drilling has started on Snow Leopard-2, second of four wells, about 5km east of SL-1, planned to reach ~600m. Two more holes follow over 2-3 months; pilot wells and a maiden contingent resource remain targeted for 2H 2022.
10 May 2022drilling result▲ GoodMajor
Snow Leopard-1 finished at 675m with 60m net gassy coal (44.4m upper, 15.5m lower). Gas content is tracking the upper end of the 7.5-12.5 m3/t range, methane averages ~96%. Permeability test results still being analysed; rig moves to Snow Leopard-2.
29 Apr 2022drilling progress report● Neutral
Snow Leopard-1 at 636m; upper coal confirmed at 44.4m net, with gas averaging 96% methane. A second lower coal group shows about 12m of coal. The permeability drill stem test failed on equipment problems and is deferred to well completion.
11 Apr 2022drilling result▲ GoodMajor
Snow Leopard-1 intersected about 44m of gassy coal between 406m and 461m. Preliminary desorption shows high gas content (7.5-12.5 m3/t) and saturation, a first positive result for the Gurvantes model; permeability not yet tested.
16 Mar 2022drilling spud▲ GoodMajor
Snow Leopard-1, the first of four Gurvantes XXXV wells, spudded 15 March 2022, targeting about 650m over four weeks. Three more holes follow over 3-4 months; maiden contingent resource targeted for 2H 2022. Talon's US$1.5m funds this stage.
9 Mar 2022drilling scheduled● Neutral
Drilling rig is being mobilised to Gurvantes XXXV, with camp under construction and drilling due to start within a week. Four-well program is Talon-funded; no new results or changes to known facts.
4 Oct 2021resource reserve update▲ GoodMajor
ERCE certifies Napoleon's main 197T target at a mean 1,528 Bcf gas and 66m barrels condensate (gross, unrisked), with a 24% chance of success. This ends the long wait for the estimate. Next: drilling permit, convert to a direct 20% interest, and farm out the 80% to fund a A$41.1m well.
11 June 2021drilling progress report▲ Good
Napoleon 3D seismic reprocessing is complete, showing improved imaging and signs of hydrocarbon charge. Geochemical modelling suggests most likely gas with substantial condensate. ERCE will produce an independent prospective resource estimate by end of July 2021.
8 Sept 2020farm in farm out completion▼ BadMajor
Tamaska will not proceed with the Parta farm-in, ending its path to a 50% interest in the Romanian licence. It says approvals delayed the seismic and the earn-in period expired. Cash is A$2.7m and it is reviewing other projects.
16 Aug 2019farm in farm out agreement▲ GoodMajor
Tamaska agrees to buy 100% of Parta Energy, which can earn 50% of the 1,155 km2 Parta licence in onshore Romania by paying US$1.5m (US$200,000 paid) toward about 100 km2 of 3D seismic. ADX Energy operates. Joseph Graham and Tim Wise to join the board and Alexander Parks to resign. This is the long-sought new project.
24 Dec 2013drilling result▼ BadMajor
The Rend Lake Lawrence Farms #1 well reached 6,400ft but did not intersect the target dolomite reservoir and found no commercially significant hydrocarbons. It is being abandoned. This ends the main hope for the 20% interest, bought for A$320,000.
16 Dec 2013drilling progress report● Neutral
Rend Lake well drilling at 5,600ft toward the primary objective, with 6,500ft expected within a week. No new result.
10 Dec 2013drilling progress report● Neutral
Rend Lake well drilling at 4,455ft in the New Albany Shale, heading towards the main targets. Target depth of about 6,500ft expected within 7 days. No new result.
3 Dec 2013drilling progress report● Neutral
Rend Lake well was drilling at 1,532ft, with casing set at 786ft. Target depth of about 6,500ft is expected before 25 December. No new result.
25 Nov 2013drilling spud▲ GoodMajor
The Lawrence Farms #1 well at Rend Lake spudded 22 November, targeting 6,500ft over about 30 days. Cost estimate rose to about US$1.5m; the amended carry now covers the first US$1m. Target is 67.5 MMbbl recoverable (13.5 net to Tamaska) on success.
24 Apr 2013drilling progress report● Neutral
A rig arrived to complete and production-test West Klondike (10.2%), starting with the Lower Nod Blan. If flow is commercial the well will be suspended, with facilities and pipeline taking 4-6 months. Net pay figures are unchanged.
3 Jan 2013drilling result▲ GoodMajor
The Texas Fusselman well reached 9,883 ft and found pay; Tamaska has earned its 12.5%. Gross potential for two wells is 280,000 to 320,000 barrels, below the 350,000 to 450,000 earlier cited. Production is due within 15 days.
21 Dec 2012drilling progress report● Neutral
Fusselman well is drilling at 5,270 ft toward a planned 9,900 ft, about 15 days in total. No results yet.
19 Dec 2012drilling result● Neutral
Black Swan's Duvernay well reached its planned depth of 3,318 m and was logged. Two 27 m cores were recovered. Core analysis will inform whether a horizontal well follows from this location.
18 Dec 2012drilling spud▲ GoodMajor
The Clayton Johnson #3F Fusselman well in Borden County, Texas has spud and is drilling at 2,240 ft toward 9,900 ft. Tamaska earns 12.5% after casing point for about $200,000. Gross potential is 350,000 to 450,000 barrels.
17 Dec 2012drilling progress report● Neutral
Electric logs confirmed West Klondike as a discovery, with net pay of 4 ft in the Lario, 6 ft in the U Nod Blan and 35 ft in the L Nod Blan. Casing was run and flow testing was likely to start that week, with reserve estimates to follow.
13 Dec 2012drilling result▲ GoodMajor
Logs confirm West Klondike as a discovery: 4 ft of net pay in the Lario, 6 ft in the U Nod Blan and 35 ft in the L Nod Blan. Casing is being run for testing; reserve ranges are to follow. Tamaska holds 10.2%.
