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Ojay I agree. Despite some head winds these will be overcome im sure. It makes no sense to bail out now and certainly not at this price.
Talon finds new gas in Perth Basin as second Mongolia well underway
marketindex.com.au 2022 05 16
Talon Energy (ASX:TPD) through its Perth Basin partnership with Strike Energy (ASX:STX) has drilled a new well in the Perth Basin Cattamarra Coal Measures, Walyering-6, revealing a new gas discovery in the Cadda Formation with 4m of net pay at 2,683m depth.
On top of the new Cadda gas discovery, the partnership has also struck a 21m thick payload in the Cattamarra Sandstones.
Meanwhile, new production test results for Walyering-5 provide evidence suggesting a large connected gas field underneath the ground, a promising indication for the forward development of the Walyering gas field.
Strike Energy Limited holds 55% of the JV, and Talon Energy retains 45%; the project is in the boundaries of WA permit EP447.
Gas bearing geology detected in the Cattamarra Sandstones are located mostly across the B & C Sands, with the A Sand returning low gas saturation (blamed on a breached seal,) and, the D Sand containing "immaterial" streaks of net gas pay.
Based on this, Walyering-6 will target the B & C Sands for future production testing of Walyering-6. Samples of gas from the newly identified Cadda Formation well will be sent to a laboratory for compositional analysis; the Cadda target will be included in the Walyering-6 flow test.
Across to Mongolia…
Investors will also be interested in looking across to Mongolia, where Talon Energy has commenced drilling its Snow-Leopard 2 well onsite the Gurvantes XXXV CSG project in the Southern Gobi.
That well is being spud alongside project partner TMK Energy (ASX:TMK). TMK Energy's share price is up 10% in post-lunch trades. The two Australian companies are two of a small handful of players active in the Mongolia region, both companies report a good standing with government resources officials.
SL-2 is underway as the results from SL-1 remain pending with the company confident gas contents will reflect the upper end of estimates attached to initial data.
Snow Leopard-2 is located some 5km to the east of SL-1. Talon Energy notes upon the completion of SL-2, a further two drill holes will be launched on-site "over the next 2-3 months."
After all four wells are drilled, data from the quad will be used to inform the design of a pilot well program intended to de-risk the asset and demonstrate the commercial potential of the development of gas resources on-site the company's mammoth Mongolian acreage.
Talon expects the pilot well program to launch in the second half of 2022.
Hoping the same curiouser. A lot of investors currently bailing out at this sp. Doesn't make much sense to me but I'm happy for the buyers who will make a huge profit.
Return to normal June 1st hopefully...
http://www.reuters.com/article/us-health-coronavirus-china-idUSKCN2N206K?utm_source=34553&utm_medium=partner
https://www.thesun.co.uk/news/18556168/president-xi-suffering-brain-aneurysm-coup-covid-lockdown/
Not sure a rig is required to put Heron into production, read the RNS.
https://www.lse.co.uk/rns/MATD/results-of-testing-at-heron-1-r3vjzz41t827mnx.html
Like I said no coumtry can afford to lockdown for too long as it will cripple them, I expect lockdown in china over by end of may and business may not be as usual but with strict policies,
Expect MATD back up to 4p and things to start and happen very fast here now.
https://www.wsj.com/articles/shanghai-lays-out-covid-19-reopening-plan-as-china-cancels-2023-soccer-tournament-11652619639?mod=hp_listb_pos1
Partial re-opening of businesses in Shanghai from tomorrow (Monday) according to the Wall Street Journal
Im not a Liverpool fan but prefer them to Chelsea. Trust you to focus on the side detail and not the main game though Hamm!
Shame on them (Liverpool fans ) booing the national anthem!
Maybe the Chinese will grow tired of the King-Canute-trying-to-stop-the-tide routine and wise up:
https://economictimes.indiatimes.com/news/international/world-news/chinese-social-media-abuzz-with-rumours-of-xi-jinping-stepping-down-for-covid-19-mismanagement/articleshow/91560750.cms
Never mind
Liverpool just won. Happy days :D
Did he tell you himself?
That is why in the last 3 years he has been everywhere but where he meant to!
His passion is zooming!
Enjoy lovely sunny day guys
https://www.economist.com/china/shanghais-covid-19-lockdown-is-not-even-close-to-over/21809221
Excerpts from the Economist article.
Just a taste of what Mike is currently up against!!
Stephen Roach, the former Asia chairman of Morgan Stanley, a bank, has long defended Chinese policy. But in a recent article in Project Syndicate, an online publication, he said “the China cushion”, the economic might that helped power the world through the global financial crisis in 2008, had “deflated”.
..."The costs of controlling the spread of Omicron are becoming apparent. Factory activity has suffered dearly and strains on shipping and logistics are rippling through global supply chains. The central government has mandated that it must hit its gdp growth target of 5.5% but many analysts have downgraded their outlook for economic activity in the country this year. Some economists believe real growth in China in 2022 will only reach 2% (even if official statistics say otherwise)".
The Economist on China's zero covid policy ...
https://www.economist.com/finance-and-economics/2022/05/07/chinas-erratic-policies-are-terrifying-investors
IFC, a member of the World Bank Group, is the world's largest private development agency, focusing on the private sector in emerging markets. In fiscal 2021, IFC set a record $ 31.5 billion for private companies and financial institutions in developing countries, highlighting the role of the private sector in eradicating extreme poverty and providing incentives for inclusive growth in countries struggling with the pandemic.
I wish it were that simple grab a couple of Jerry cans shove a bit of oil in it and cart it down the road. Somehow i doubt it.
For heaven's sake MB how hard can it be . Drill the hole . Stick the nodding donkey in place and extract the black stuff . Stick it in a container and take it away to be sold. Not rocket science. Get on with the job in hand else pass the baton on to someone hungrier to get the job done .
They hope that this initiative will strengthen mutual trust between investors and local communities and give a clear impetus to the sustainable and inclusive development of Mongolia's mining sector. With the way Mongolia's processes work I hope it's sooner rather than later. I don't think we are mile's away but I believe once the borders are open then it's game on but again we know how long these things can drag on. AIMHO. GLA
Thank you for this Jimi but i am just a bit confused was anything decided or was it just a talking shop with nothing really said discussed or resolved. Do you think it has moved us any nearer or are still miles away or at least appear miles away. Or once China open up we can move forward or will we still have this issue over rights permits and licenses.
Empty promises definitely comes from MB.
He said in 2018 .
We will be doing 4 well exploration. Delivered 2
2019 again 4 well exploration. Delivered 3
He even said there was enough money to do 4 wells in 2019 but God knows where the money went and thus we had a 10mill raise.
So far not a good cv at PM ..MB .
HE needs to get his backside there and sort the issues out. He is a paid a CEO so it's his responsibility to do the job to very good standards and not blame it on this and that situation.
2018/2019 no covid restrictions and he still messed up.
Ojay .well im still slogging it out here but my patience is beyond. Empty promises month on month we go by with nothing.