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 with evidence of working petroleum systems (fluid inclusions & oil staining)
- 2 Shallow (250m) continuous oil shale scoping cores; world class oil shale resource potential
- 1,500 outcrop and borehole samples characterizing pervasive, rich source rocks; high porosity reservoir units; age and thermal maturity
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 indicates possible petroleum system in Baatsagaan Basin but no follow-on potential matured
- Velociraptor Prospect drilled in July 2023 with the Velociraptor-1 well plugged and abandoned as a dry hole although good quality reservoir sandstones were encountered
Licensing and Relinquishment:
- Block IV fully relinquished August 2020
- Block V final relinquishment retained both Taats and Tugrug Basins with 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 Production Sharing Contract to conduct further operations
- Block V exploration term expired 31July 2024 and area thus fully relinquished
