EXR’s Nomgon-2 Gas Well Exceeds Expectations Elixir Energy (ASX: EXR) has reported impressive gas content and permeability results from its 100%-owned coal seam gas (CSG) Production Sharing Contract (PSC) on the Mongolia-China border. The data will expand EXR’s contingent resource base at the PSC’s Nomgon sub-basin — targeted for year’s end. This will provide a basis for what could be a very modestly costed pilot production test in 2021. After achieving Mongolia’s first ever gas discovery in February at the Nomgon-1 well, EXR rapidly followed up with the Nomgon-2 appraisal well. Both wells encountered exceptionally thick coals, while results of this follow up appraisal well exceeded expectations, coming in even better than those from the first well. In addition to the Nomgon sub-basin, the gigantic licence area — the size of “a small European country” — likely hosts numerous coal-bearing sub-basins that are prospective for coal seam gas. The company is proving up the wider potential in its vast PSC block, with plans to ultimately bring in high quality partners who can help bring a very large potential resource into production. Here at Next Investors we are long term shareholders of EXR, naming it our ‘Pick of the Year’ in July 2019 and doubling down on our investment in May. That investment is clearly paying off given the recent price action, yet we are looking further ahead, eyeing the longer-term potential of Elixir’s 30,000km2 (7 million acre) landholding. FIND OUT MORE S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice. Conflict of Interest Notice S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article. CUSTOMER NOTICE | PRIVACY POLICY | FINANCIAL SERVICES GUIDE | DISCLOSURE POLICY Level 4, 152 Elizabeth Street, Melbourne, Victoria, 3000, AUSTRALIA Unsubscribe VIEW MORE NEXT INVESTORS CATEGORIES