TMK Energy Sets New Output Record and Wins Key Regulatory Backing in Mongolia

TMK Energy Limited ( (AU:TMK) ) just unveiled an update.

TMK Energy reported another record month at its wholly owned Gurvantes XXXV coal seam gas project in Mongolia, with March average daily gas output rising 48% to about 866 cubic metres and a peak daily rate of roughly 1,353 cubic metres before being deliberately curtailed for safety and gas preservation. Production at key well LF-07 has resumed an upward trajectory after operational upgrades, with management aiming to manage reservoir drawdown carefully to maximise long-term gas recovery and support future power generation use.

The company also secured regulator MRPAM’s approval for its 2026 work program and budget, which includes drilling three additional production wells at the pilot project this year. TMK and MRPAM signed a memorandum of understanding that provides a framework to use produced gas for a proposed power generation project ahead of an exploitation licence and outlines a pathway to convert parts of the 8,400-square-kilometre PSC area to an exploitation licence, underscoring government support for accelerating a new gas industry in Mongolia and strengthening TMK’s strategic position in the market.

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 ASX-listed energy company focused on coal seam gas development in Mongolia, where it owns 100% of the Gurvantes XXXV CSG Project. The company is targeting the emerging Mongolian gas market, with an emphasis on transitioning pilot gas production into commercial use, including potential power generation to support the country’s growing energy needs.

Average Trading Volume: 405,369

Technical Sentiment Signal: Sell

Current Market Cap: A$38.9M

For detailed information about TMK stock, go to TipRanks’ Stock Analysis page.