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Elixir Energy spuds Cracker-1S well
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Elixir Energy Limited (ASX:EXR) has provided an operations update on the current exploration and appraisal program underway in its Nomgon project within the South Gobi region of Mongolia.
The Cracker-1S well was spudded yesterday, located in its 100% owned Nomgon IX Coal Bed Methane (CBM) Production Sharing Contract (PSC).
The Cracker-1S exploration strat-hole is the first well to be drilled in the sub-basin identified in this region by (inter alia) the Company’s 2020 2D seismic program, located some 130 kilometres to the North West of the Company’s last well.
“The Cracker-1S well is an exciting one for the Company, given its significant distance from our prior discoveries,” Elixir’s Managing Director, Mr Neil Young, said.
“Its geological potential to open up a new sub-basin is supplemented by its favourable location for access to such infrastructure as larger capacity electricity lines and the regional capital.”
Additionally, a second drilling company was sub-contracted by Elixir over a month ago and is planning to move to the field in the coming fortnight as soon as COVID related travel restrictions are lifted.
The second drilling company is ready to immediately mobilise to a separate potential new sub-basin in the Nomgon IX CBM PSC.
The Company’s 2021 2D seismic program is ongoing, and has now acquired 51 kilometres of new seismic, which is being processed rapidly in order to feed the expanded drilling program.