Gas exploration program expanded + hydrogen progress made
ASX:EXR Mar 25, 2022
We caught up with Neil Young, the head of our energy investment Elixir Energy (EXR), following his presentation on Wednesday at the Brisbane Mining and Energy Conference.
EXR is our 2019 Energy Pick of the Year, and has been making steady progress with its flagship Nomgon coal bed methane project in Mongolia, near the Chinese border.
This year, our #1 objective for EXR to achieve is to deliver its maiden pilot production program at Nomgon.
Neil provided an update, expanding the program to a planned ~24 wells, which should both grow and de-risk the gas resources in place.
We’re also pleased to see progress with EXR’s Hydrogen project.
Given the EXR’s team’s track record (Chairman Richard Cottee built QGC from a CSG junior capped at $20M to $5.7B takeover acquisition, Neil was formerly an executive within Santos’ coal seam gas division), as well as first mover advantage within an energy hungry region, we continue to have confidence in EXR’s capability to execute on its vision.
We found the EXR video on its H2 project useful to understand the importance of EXR's strategic location: