Ann: Prospective Resources Increased, page-146

Increasing industry activity: Interest in Mongolian CBM continues to build given large prospective resources and proximity to Chinese gas markets. Australian-based companies, Telmen Resource and High Grade Metals, have commenced field activity, and Korea’s Kogas has partnered with Mongolia’s Erdenes Methane. Elixir’s first mover advantage should assist future gas commercialization.

Price catalysts: Contingent resource assessment; commencement of pilot program and well performance results; Nomgon project area extensional drilling; expansion of exploration drilling to other sub-basins.

Erdenes we’re doing the drilling for us in 2020. I wonder how much HGM field activity will impact their ability to service our exploration needs? We will come second to their own exploration you would think.