2021 Drilling Program Completed

Source Press Release
Company Elixir Energy Limited 
Tags CBM, Production/Development, Strategy - Upstream, Upstream Activities
Date January 04, 2022

HIGHLIGHTS

  • Elixir awarded “Investor of the Year” for second year in a row by Mining Ministry
  • Final 3 wells in 2021 drilling program completed
  • Regulatory process well underway for 2022 program, which includes Mongolia’s first pilot production program

Elixir Energy Limited (“Elixir” or the “Company”) is pleased to provide an update on its coal bed methane (CBM) exploration/appraisal program underway across its 100% owned Nomgon IX Coal CBM Production Sharing Contract (PSC).

Last year Elixir was awarded “Investor of the Year 2020” by Mongolia’s Minister of Mining and Heavy Industry in recognition of our efforts to keep exploring in the year of COVID’s emergence. Last week the Company was exceptionally pleased to again receive this prize for 2021.

MMHI Minister G Yondon (left) presenting the award

The Company’s 2021 drilling program has now wrapped up, with the following results:

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Elixir’s final 2021 drilling program comprised 17 wells of which 65 % successfully intersected coals in the CBM window.

After nearly 300 days of non-stop drilling undertaken by the Company in 2021, there will be a short hiatus in the field, whilst the mandatory annual regulatory processes for the 2022 program are well underway:

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Elixir’s Managing Director, Mr Neil Young, said: “It is a great tribute to our local staff and contractors that we have yet again been formally awarded as ‘The Investor of the Year’ by the Mining Minister. This recognises their great resilience in not just maintaining, but in fact greatly increasing, our exploration & appraisal efforts, notwithstanding all COVID has thrown at them. We look forward to even more growth in 2022 as we undertake Mongolia’s first sustained production pilot program and continue our ‘rinse & repeat’ model of adding new coal bearing sub-basins to our inventory”.

Source: EvaluateEnergy® ©2022 EvaluateEnergy Ltd