Seismic and Geophysical Surveys:
- >4,400km of 2D Seismic, 200km2 of 3D Seismic
- Full coverage 2-4km grid surface gravity surveys
- 11,000km2 of Full Tensor Gravity (FTG) + High Resolution Aero-Magnetic (HRAM) surveys with 500m flight-line spacing
Core Drilling and Resource Evaluation:
- 2 Deep (~1,500m) continuous stratigraphic core holes drilled showing evidence of working petroleum systems (fluid inclusions & oil staining)
- 2 Shallow (250m) continuous stratigraphic cores drilled showing world class oil source rock and potential oil shale resource
- 1,500 outcrop and borehole samples characterizing common, rich and thermally mature source rocks and high porosity reservoir units
Exploration Drilling and Results:
- Basin opener wildcat wells Snow Leopard-1 and Wild Horse-1 drilled during 2018 in Block V and Block IV respectively. Snow Leopard-1 proved active petroleum system in the Taats Basin. Wild Horse-1 well results indicated possible petroleum system in Baatsagaan Basin but no follow on potential matured
- Taats Basin Velociraptor Prospect drilled in July 2023 by the Velociraptor-1 well plugged and abandoned a dry hole although good quality early mature source rocks and significant reservoir sandstones sections were encountered
Licensing and Relinquishment:
- Block IV fully relinquished August 2020
- Block V final relinquishment retained both Taats and Tugrug Basins for potential future drilling opportunities on the Velociraptor trend defined
- Block V put into moratorium in 2020 due to Covid-19 pandemic related issues. Moratorium expired end 2022 with expiry of final exploration period extended to 28 July 2024
Operational Outcomes:
- Post well studies completed but no time left on the Production Sharing Contract to conduct further operations
- Block V exploration term expired 31July 2024 and area thus fully relinquished
