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Elixir Energy commences 2021 field program


Published 08-MAR-2021 11:47 A.M.


2 minute read

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Today, Elixir Energy Limited (ASX:EXR) announced that its 2021 field program has just commenced, with the Yangir-2 core-hole well spudded on 6 March 2021.

The Government of Mongolia has recently lifted various COVID-19 related travel and other restrictions and has announced its commitment to reviving the economy and only imposing further limitations if cases spike unexpectedly. A vaccine program has commenced in the country.

Yangir-2 will be a fully tested core-hole, drilled immediately adjacent to last year’s Yangir 1S strat- hole. Yangir 1S encountered 27 metres of visibly bubbling coal seams. It was terminated at 347 metres in December 2020 for various operational reasons.

Elixir’s Managing Director, Mr Neil Young, commented on the field program commencement: “After a break of a few months we are naturally very pleased to have got back into the field.”

“The Yangir-2 core-hole will follow up on the highly encouraging predecessor strat-hole well, which served to open up a new sub-basin in the Nomgon CBM PSC.”

“Surprises can of course happen, but if all goes to plan, our drilling and other field work program should continue for the rest of the year.”

13 new wells targeted in 2021

On 15 February 2021, EXR released its work program for 2021, which outlined a plan to expand its already impressive resource in Mongolia where it has access to broader Asian markets.

Below is a snapshot of Elixir’s acreage, existing wells and proposed wells in relation to its 2021 program.

Screen Shot 2021-03-08 at 10.58.13 am

Not only does Elixir aim to complete exploration of 13 wells; it will also be performing some important production test work on the Nomgon sub-basin coal seams.

This will be the first test of its kind in Mongolia and it is designed to determine commerciality, fluid flow from the coal seam and the measurement of water and gas rates, while also providing some insight as to the water quality.

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S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.

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