Elixir Energy Ltd., Adelaide, has increased prospective resources for its 100%-owned Nomgon IX coal seam gas production sharing contract area in southern Mongolia.
The independent assessment prepared by ERC Equipoise Pte Ltd. (ERCE) indicates a significant increase in unrisked and risked prospective resources. Risked 2U prospective resources have increased 92% to a 2020 estimate of 14.6 tcf from 7.6 tcf in 2018.
The geological chance of success has increased to an estimated 30% from 19% in 2018.
An initial contingent resource estimate for the project will be prepared and issued once the all the 2020 appraisal data has been compiled, modelled, and analyzed.
Elixir will continue exploration in 2021, depending on COVID-19 pandemic conditions, in an effort to further derisk the Nomgon project.
