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The latest announcement is out from TMK Energy Limited ( (AU:TMK) ).
TMK Energy has reported a new daily gas production record of more than 25,000 standard cubic feet at its Gurvantes XXXV coal seam gas project in Mongolia, following the rebound in output after planned shut-ins of two pilot wells for pressure build-up tests. The tests confirmed reservoir pressure is falling in line with the company’s model, a key condition for gas desorption from coal seams and an important indicator for long-term project viability.
The LF-07 well has emerged as the standout performer, with gas production climbing above 13,000 scfd and showing a steady upward trend, supported by indications that gas is being desorbed from one of the highest wells in the structure. Management highlighted that the recent performance suggests the development of a localized gas saturation zone and bolsters confidence in expanding gas saturation across the field, reinforcing the project’s potential and supporting a more optimistic outlook for shareholders as production trends strengthen.
The most recent analyst rating on (AU:TMK) stock is a Hold with a A$0.10 price target. To see the full list of analyst forecasts on TMK Energy Limited stock, see the AU:TMK Stock Forecast page.
More about TMK Energy Limited
TMK Energy Limited is an Australian-listed exploration and production company focused on coal seam gas development. Its flagship asset is the 100% owned Gurvantes XXXV CSG Project in Mongolia, where the company is advancing a pilot well program to assess commercial gas production potential in a growing regional energy market.
Average Trading Volume: 263,162
Technical Sentiment Signal: Sell
Current Market Cap: A$20.73M
See more data about TMK stock on TipRanks’ Stock Analysis page.