Elixir Energy Limited (ASX: EXR) is an ASX listed gas exploration and development company. It is focused on exploring in Mongolia for natural gas in the form of coal-bed methane (CBM – known as coal seam gas -CSG -in Australia).
EXR holds 100% of a CBM production sharing contract (PSC), located just to the North of the Mongolian/Chinese border. The PSC was signed in September 2018 with the Mineral Resources and Petroleum Authority of Mongolia (MRPAM).
The Nomgon Project licence area covers ~30,000 km2 (~7 million acres). This very large area has been independently certified to contain a giant CBM risked recoverable prospective resource of 7.6 Tcf (best case).
EXR’s Corporate Vision is simply “to find large gas reserves on the Chinese border”.
The company successfully ended its 2019 exploration program, which comprised shooting 2D seismic and drilling a number of wells. The last well in the first year’s program – Nomgon-1 – made a coal seam gas discovery. The plans for 2020 are to undertake further delineation work around Nomgon-1 and pursue further exploration work (seismic and drilling) across the vast PSC.
Elixir is solely focused on the 100% owned Nomgon IX Coal Bed Methane (CBM*) Production Sharing Contract (PSC) project in the South Gobi region of Mongolia.
The Company has a highly experienced CSG team – in Australia and increasingly in Mongolia.
Elixir has been building upon Mongolia’s first CSG discovery with further appraisal and exploration programs. These are progressing well and have identified numerous other target areas with high potential for gas discoveries.
Multiple market options exist, including the rapidly growing Chinese gas market which Elixir’s Nomgon project is perfectly placed.
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Cash (31 March 2021)