Past year: ▲ 5900%(0.20c – 16.5c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
8 Aug 2025drilling result▲ Good
LF-07 reached 420 m total depth and cased, intersecting about 54 m of net coal, as prognosed and consistent with the other pilot wells. Pump installation and commissioning follow over coming weeks. Fourth pilot well drilled in 12 months, on time and budget.
28 July 2025drilling spud▲ GoodMajor
Drilling of LF-07, the seventh pilot production well, began 27 July 2025 on a fixed-cost turnkey contract with Major's TXD200 rig. It follows through on the planned 2025 pilot well and aims to speed reservoir depressurisation. LF-05 is described as remediated.
27 Nov 2024drilling progress report● Neutral
Three new wells are completed and in final commissioning, with metering skids two-thirds done. All six wells will be ramped up slowly over 6-8 weeks. Management targets a successful outcome in Q1 2025. No gas results yet.
20 Nov 2024drilling progress report● Neutral
LF-05 and LF-06 now have tubing, pumps and DTS cable installed; LF-04 is to follow within days. Surface hookups are on schedule for production by end November. Pumps should reach full capacity early 2025, with pressure measurements from Q1 2025.
13 Nov 2024drilling result▲ GoodMajor
Final pilot well LF-04 reached 503m with about 60m of net coal, as expected, completing the 2024 drilling campaign on time and on budget. The rig is leaving. Pumps are being fitted, with all six wells due on production by end of November.
31 Oct 2024drilling result▲ Good
LF-06 drilled to 475m with about 60m of net coal, on prognosis and trouble free. Third and final well LF-04 starts within 24 hours; pumps go into LF-05 and LF-06. Wells are scheduled to be on production in late November 2024.
24 Oct 2024drilling progress report● Neutral
Reminder that the entitlement offer closes 25 October, with Board and management taking up most or all of their entitlements. LF-06 is drilling at 226m. The remaining wells are due to be on production within four to six weeks.
21 Oct 2024drilling result▲ Good
LF-05 reached 480m with about 60m of net coal, as expected and consistent with the three existing wells, drilled without problems. LF-06 started 20 October. The new wells are scheduled to be on production in late November 2024.
14 Oct 2024drilling progress report● Neutral
LF-05 has set surface casing at 261m and is drilling into the upper coal seam, expected at about 278m with total depth near 480m. LF-04 follows. Also announces an investor webinar on 16 October. No result yet.
8 Oct 2024drilling spud▲ GoodMajor
Drilling began on the first of up to three additional Lucky Fox pilot wells (LF-05), each expected to take seven to ten days. All three are expected to be finished in four to six weeks and put straight on production. Aim: reach critical desorption faster.
4 July 2024drilling scheduled▲ Good
All approvals for the 2024 drilling program are in, long lead equipment is ordered and tenders for the drilling contractor have closed. Drilling is expected to start in August 2024. The three existing Lucky Fox wells continue producing gas and water.
9 Oct 2023drilling result▲ GoodMajor
Terra-area well BHN23_002C intersected about 45m of net coal with moderate to high gas content, in the same formation as Nariin Sukhait about 100km west, so four more wells are added. The two earlier wells found thin coal with low gas. Lucky Fox-3 had pump problems from coal fines.
13 July 2023drilling progress report● Neutral
Pumps and drive heads are installed and all surface facilities are complete at the three pilot wells; the production test is expected to start within a week. Dewatering is now expected to take two to three months before initial gas breakthrough.
28 June 2023drilling progress report● Neutral
Surface facilities for the three pilot wells are over 80% complete, with pump installation due early July and the six-month production test now scheduled for mid-July. Sustained gas is not expected until several months after pumps start; early water flow is expected.
30 May 2023drilling result▲ GoodMajor
Lucky Fox-3 hit about 68m of gassy coal, the thickest of the three, completing the pilot drilling safely, on time and on budget. Pumps and surface facilities are due by early July, with first gas breakthrough expected one to two months after pumping starts.
19 May 2023drilling spud▲ Good
Lucky Fox-3, the final pilot well, began drilling late on 18 May and should take about two weeks. Management says Lucky Fox-1 and -2 each hit about 60m of gassy coal as prognosed, and pump installation and tie-in are scheduled for June.
16 May 2023drilling result▲ Good
Lucky Fox-2, the second of three pilot wells at Gurvantes XXXV, reached 407m and intersected about 62m of gassy coal, on prognosis, on time and on budget. This matches Lucky Fox-1's roughly 60m; the rig now moves to Lucky Fox-3.
5 May 2023drilling spud▲ Good
Lucky Fox-2, the second of three pilot wells, began drilling on 3 May and was at 138m by 5 May. Drilling is due to finish by end of May, with pumps and tie-in completed in June before the six-month production test.
27 Apr 2023drilling result▲ GoodMajor
Lucky Fox-1 reached 375m total depth, on time and on budget, intersecting about 60m of coal in the upper seam production interval. The first pilot production well is done; the rig moves to Lucky Fox-2. This is a favourable early sign ahead of the production test.
27 Apr 2023drilling result▲ Good
Talon's release repeats that Lucky Fox-1 reached 375m on 26 April, drilled on time and on budget, with 60m of gassy coal in the production interval. The remaining two wells are expected to take about five weeks. Duplicates TMK's own announcement.
13 Apr 2023drilling spud▲ GoodMajor
Lucky Fox-1, the first of three pilot production wells at Gurvantes XXXV, spudded on 12 April 2023, on the April timetable. Talon still funds the first US$3.15m of about US$3.5m. A six-month production test follows all three wells.
3 Apr 2023drilling scheduled▲ Good
Rig is mobilising and all permits are in place for the three-well Pilot Well Program, with drilling expected to start mid April. Drilling takes about seven weeks, then about four weeks of facilities work. First gas is expected one to two months after production starts.
1 Dec 2022farm in farm out completion▲ GoodMajor
Talon formally exercised its option for 33% of Gurvantes, leaving TMK 67% and operator. Talon funds the first US$3.15m of the roughly US$3.5m pilot wells, and pays TMK a US$809,333 bonus triggered by the 1.2 TCF resource. Drilling is forecast mid to late Q1 2023.
1 Dec 2022farm in farm out completion▲ GoodMajor
Talon exercised its option to take a 33% interest in the Gurvantes PSA after completing Stage 1 funding, leaving TMK with 67%. Talon also holds a first right of refusal over TMK's retained stake. It is committed to fund a further US$3.15m of exploration.
21 Nov 2022drilling progress report▲ Good
Two 10km 2D seismic lines were acquired to help plan 2023 exploration beyond the 1.2 TCF area. Pilot well design is done and tendering nearly complete. Talon says it expects to elect Stage 2 by 25 December; pilot drilling is expected mid Q1 2023.
9 Nov 2022resource reserve update▲ GoodMajor
NSAI certified a maiden Gurvantes contingent resource of 398 Bcf (1C), 1,214 Bcf (2C) and 2,361 Bcf (3C). The 1C and 2C are all in the upper seam; the lower seam has only 3C (417 Bcf) because permeability data is lacking.
9 Nov 2022resource reserve update▲ Good
Talon, TMK's farm-in partner, republished NSAI's maiden Gurvantes contingent resource of about 1.2 TCF (2C). It says Talon is now better placed to decide on continuing its investment. Repeats TMK's 9 November announcement; no new TMK information.
28 Oct 2022drilling result▲ Good
Final adsorption tests on SL-02 and SL-03 show gas saturation above 80%, and SL-05R's upper seam permeability is confirmed at 56mD, the project's best. Gas is about 96% methane. NSAI's first contingent resource estimate is expected within two weeks; pilot wells will be near SL-02.
11 Oct 2022drilling result▲ GoodMajor
Final well Snow Leopard-5R finished at 510m with 69m net coal; preliminary testing of the upper seam shows the highest permeability in the project so far. All five wells are done and rigs demobilised. Maiden contingent resource targeted by 31 October; pilot well planning under way.
28 Sept 2022drilling result▲ GoodMajor
Initial four-well program complete. Snow Leopard-3R reached 558m with 175m net gassy coal (up from 140m), the thickest in Mongolia per TMK; gas 7.5-12.5 m3/t. NSAI engaged for the maiden contingent resource (~6 weeks); Talon's 90-day election window runs from 26 September.
