TMK Energy Limited (AU:TMK) has released an update.
Invest with Confidence:
- Follow TipRanks' Top Wall Street Analysts to uncover their success rate and average return.
- Join thousands of data-driven investors – Build your Smart Portfolio for personalized insights.
TMK Energy Limited has successfully drilled the first of three pilot production wells at its Gurvantes XXXV Coal Seam Gas Project, intersecting 60 metres of net coal, consistent with projections. The drilling program aims to enhance gas production rates by the end of November 2024, while shareholders are invited to participate in an entitlement issue before October 25, 2024. The company’s strategic initiatives are expected to demonstrate commercial gas production from its substantial contingent resources.
For further insights into AU:TMK stock, check out TipRanks’ Stock Analysis page.