Announcement • Apr 08
TMK Energy Limited, Annual General Meeting, May 26, 2026 TMK Energy Limited, Annual General Meeting, May 26, 2026. Location: 3 richardson street, west perth, wa, 6005, Australia New Risk • Mar 31
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 58% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Shareholders have been substantially diluted in the past year (58% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (15% average weekly change). Market cap is less than US$100m (AU$41.6m market cap, or US$28.5m). Announcement • Mar 30
TMK Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 6.08 million. TMK Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 6.08 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 50,000,000
Price\Range: AUD 0.12
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 666,667
Price\Range: AUD 0.12
Transaction Features: Subsequent Direct Listing Announcement • Mar 19
TMK Energy Limited has filed a Follow-on Equity Offering in the amount of AUD 6.08 million. TMK Energy Limited has filed a Follow-on Equity Offering in the amount of AUD 6.08 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 50,000,000
Price\Range: AUD 0.12
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 666,667
Price\Range: AUD 0.12
Transaction Features: Subsequent Direct Listing Announcement • Nov 03
TMK Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 3.5 million. TMK Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 3.5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 1,675,000,000
Price\Range: AUD 0.002
Discount Per Security: AUD 0.00012
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 75,000,000
Price\Range: AUD 0.002
Discount Per Security: AUD 0.00012
Transaction Features: Subsequent Direct Listing New Risk • Oct 30
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$11.9m (US$7.80m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (44% average weekly change). Earnings have declined by 5.8% per year over the past 5 years. Shareholders have been substantially diluted in the past year (57% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$11.9m market cap, or US$7.80m). Announcement • Sep 15
TMK Energy Limited has filed a Follow-on Equity Offering in the amount of AUD 3.5 million. TMK Energy Limited has filed a Follow-on Equity Offering in the amount of AUD 3.5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 1,625,000,000
Price\Range: AUD 0.002
Discount Per Security: AUD 0.00012
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 125,000,000
Price\Range: AUD 0.002
Discount Per Security: AUD 0.00012
Transaction Features: Subsequent Direct Listing Announcement • Jul 10
TMK Energy Limited Announces Board Changes TMK Energy Limited announced that following the recent appointment of Mr. Glenn Corrie to the Board of the Company and as part of an orderly transition, that Mr. Tim Wise has advised that he will step down from the TMK Board effective 30 September 2025. Tim has served on the TMK Board since 4 November 2019 and has been an integral part of the transition of TMK (formerly Tamaska Oil and Gas) from a junior exploration company to a company with a significant operation in Mongolia. Mr. Wise has overseen several transactions for TMK but none more transformational than the acquisition of Telmen Energy Limited in February 2022 which was the genesis of what is TMK today. Announcement • May 16
An undisclosed buyer agreed to acquire 20% stake in Skye Napoleon Pty Ltd from TMK Energy Limited (ASX:TMK) for AUD 1 million. An undisclosed buyer agreed to acquire 20% stake in Skye Napoleon Pty Ltd from TMK Energy Limited (ASX:TMK) for AUD 1 million on May 16, 2025. The buyer will pay an earnout/contingent payment cash. Announcement • Apr 24
TMK Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 2.303 million. TMK Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 2.303 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 767,666,670
Price\Range: AUD 0.003
Discount Per Security: AUD 0.00018
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Announcement • Apr 07
TMK Energy Limited Announces Planning for At Least One Additional Production Well to Boost Production Capacity TMK Energy Limited reported that during the month of March 2025, the Gurvantes XXXV Coal Seam Gas (CSG) Project once again set a new monthly record for total gas produced from the Project and further positive signs are being observed implying the overall depressurisation of the reservoir is progressing. The Pilot Well Project produced over 10,000m3 of gas during the month of March 2025. These record rates have been achieved despite substantial downtime on one of the best gas producing wells to date (being LF-05) due to the need for a workover. LF-05 is the only well that is not currently producing with remedial actions being undertaken to bring the well back in production. During March, the pilot wells located in the centre of the pilot project, being, LF-02, LF-04, LF-05 and LF-06 all achieved record monthly gas production including short term fluctuations in gas rates. Furthermore, the final analysis of the DTS data strongly indicates that the water being produced from the pilot wells is indeed coming from the coal seams, which is a strong indicator of the coal seam permeability. These are highly encouraging signs and strong indicators that the reservoir is approaching the critical desorption pressure in the central portion of the pilot project area. Accordingly, it has been determined appropriate to conduct a further pressure build up test in April using the LF-02 well which can be directly compared to the pressure build up test undertaken approximately 12 months ago on the same well. This should provide definitive readings of the reservoir pressure and represents a key data point as to where the current pressure sits compared to the inferred critical desorption pressure being targeted. Planning has also commenced for at least one additional pilot production well in the immediate vicinity of the existing wells. The drilling of an additional pilot well will not only meet license commitment for the year (with respect to additional pilot wells) but will also add to the overall production capacity of the pilot well complex and potentially increase gas sales into the power generation project that is currently being planned to be operational in late 2025. With many of the long lead items already on hand, it is estimated that the drilling of an additional well can be undertaken before the end of second quarter of 2025. It can then be quickly tied into the existing facilities and add to the overall production of the pilot well complex and potential, add to the gas volume intended to be sold under the gas sales agreement with Jens Energie LLC. The Company will continue to provide monthly operational updates on the performance of the pilot well project or immediately as material changes to the performance become apparent. New Risk • Apr 01
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (31% average weekly change). Earnings have declined by 36% per year over the past 5 years. Shareholders have been substantially diluted in the past year (38% increase in shares outstanding). Revenue is less than US$1m (AU$1.3m revenue, or US$793k). Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Significant insider selling over the past 3 months (AU$300k sold). Market cap is less than US$100m (AU$28.0m market cap, or US$17.5m). New Risk • Feb 18
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: AU$300k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (50% average weekly change). Earnings have declined by 36% per year over the past 5 years. Shareholders have been substantially diluted in the past year (52% increase in shares outstanding). Revenue is less than US$1m (AU$1.3m revenue, or US$807k). Minor Risks Significant insider selling over the past 3 months (AU$300k sold). Market cap is less than US$100m (AU$28.0m market cap, or US$17.8m). New Risk • Dec 28
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 52% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (51% average weekly change). Earnings have declined by 36% per year over the past 5 years. Shareholders have been substantially diluted in the past year (52% increase in shares outstanding). Revenue is less than US$1m (AU$1.3m revenue, or US$789k). Minor Risk Market cap is less than US$100m (AU$18.7m market cap, or US$11.6m). Announcement • Nov 08
TMK Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 1.5 million. TMK Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 1.5 million.
Security Name: Ordinar Shares
Security Type: Common Stock
Securities Offered: 750,000,000
Price\Range: AUD 0.002
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Announcement • Nov 05
TMK Energy Limited has filed a Follow-on Equity Offering in the amount of AUD 1.5 million. TMK Energy Limited has filed a Follow-on Equity Offering in the amount of AUD 1.5 million.
Security Name: Ordinar Shares
Security Type: Common Stock
Securities Offered: 750,000,000
Price\Range: AUD 0.002
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing New Risk • Oct 23
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 51% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (30% average weekly change). Earnings have declined by 36% per year over the past 5 years. Shareholders have been substantially diluted in the past year (51% increase in shares outstanding). Revenue is less than US$1m (AU$1.3m revenue, or US$848k). Minor Risk Market cap is less than US$100m (AU$19.0m market cap, or US$12.7m). New Risk • Oct 03
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$13.8m (US$9.48m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$8.8m free cash flow). Share price has been highly volatile over the past 3 months (31% average weekly change). Earnings have declined by 36% per year over the past 5 years. Revenue is less than US$1m (AU$1.3m revenue, or US$869k). Market cap is less than US$10m (AU$13.8m market cap, or US$9.48m). Minor Risk Shareholders have been diluted in the past year (38% increase in shares outstanding). New Risk • Sep 14
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$8.8m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$8.8m free cash flow). Share price has been highly volatile over the past 3 months (35% average weekly change). Earnings have declined by 36% per year over the past 5 years. Revenue is less than US$1m (AU$1.3m revenue, or US$851k). Minor Risks Shareholders have been diluted in the past year (38% increase in shares outstanding). Market cap is less than US$100m (AU$20.8m market cap, or US$13.9m). Announcement • Apr 16
TMK Energy Limited, Annual General Meeting, May 23, 2024 TMK Energy Limited, Annual General Meeting, May 23, 2024, at 10:00 W. Australia Standard Time. Location: 1202 Hay Street, West Perth, WA, 6005 West Perth Western Australia Australia New Risk • Mar 30
New major risk - Revenue and earnings growth Earnings have declined by 61% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (30% average weekly change). Earnings have declined by 61% per year over the past 5 years. Revenue is less than US$1m (AU$134k revenue, or US$87k). Minor Risks Shareholders have been diluted in the past year (46% increase in shares outstanding). Market cap is less than US$100m (AU$20.3m market cap, or US$13.2m). New Risk • Dec 13
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 54% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (19% average weekly change). Earnings have declined by 69% per year over the past 5 years. Shareholders have been substantially diluted in the past year (54% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Market cap is less than US$100m (AU$55.1m market cap, or US$36.1m). New Risk • Oct 18
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (16% average weekly change). Earnings have declined by 69% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Shareholders have been diluted in the past year (43% increase in shares outstanding). Market cap is less than US$100m (AU$55.3m market cap, or US$35.2m). Announcement • Oct 13
TMK Energy Limited (ASX:TMK) entered into binding heads of agreement to acquire Gurvantes XXXV Coal Seam Gas Project in the South Gobi Basin from Talon Energy Ltd. (ASX:TPD). TMK Energy Limited (ASX:TMK) entered into binding heads of agreement to acquire Gurvantes XXXV Coal Seam Gas Project in the South Gobi Basin from Talon Energy Ltd. (ASX:TPD) on October 11, 2023. The proposed transaction is subject to both TMK and Talon shareholders’ approval, with Talon’s board unanimously recommending Talon shareholders vote in favour of the transaction, which is expected to be sought in late November 2023. The completion of the transaction is expected to be in early December 2023. New Risk • Jun 08
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 16% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$4.8m free cash flow). Share price has been highly volatile over the past 3 months (16% average weekly change). Earnings have declined by 69% per year over the past 5 years. Shareholders have been substantially diluted in the past year (74% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (AU$75.4m market cap, or US$50.2m). Announcement • Nov 21
TMK Energy Limited Provides 2D Seismic Survey and Pilot Well Program Update TMK Energy Limited provided an update on the activities at the Gurvantes XXXV CSG Project in the South Gobi Basin in Mongolia. TMK recently completed the acquisition of two 10km 2D seismic lines within the Gurvantes XXXV Project to further define future exploration locations to continue to de-risk the significant 2U Prospective Resource already independently assessed by Netherland, Sewell and Associates (NSAI). The seismic lines were acquired over areas where coal seams are exposed at shallow depth and will aid in the planning of future exploration drilling programs. The first 10km 2D seismic line was acquired across the Noyon Syncline field in the north of the Gurvantes XXXV Project area, where coal units have been mapped on both the north and south limbs of a broad syncline striking east-west for over 80km. The second 10km 2D seismic line was acquired in the Khukhuzokh field targeting coal units exposed at surface, interpreted to be an extension of coal units from the Nariin Sukhiat field which was the focus of this year's successful drilling program which delivered a 2C Contingent Resource of approximately 1.2TCF. Preparation for the upcoming Pilot Well Program is well advanced with design work complete and tendering for contract services nearing completion. The Pilot Well Program will include the drilling of up to three production wells in proximity to the location of the Snow Leopard-02 (SL-02) well. The results from SL-02 provide a high degree of confidence in achieving a successful outcome from the pilot well program. Subject to Talon Energy Limited (Talon) exercising its option to proceed to Stage 2 of its farm-in agreement with the Company, the Pilot Well Program will be primarily funded by Talon. Talon is required to exercise its option to proceed to Stage 2 on or before 25 December 2022 and has advised the Company that it expects to do so. Drilling of the pilot production wells is expected to commence mid First Quarter 2023. Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Non-Executive Director Gema Gerelsaikhan was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Oct 11
TMK Energy Limited Provides an Update on Exploration Activities At the Gurvantes XXXV Coal Seam Gas Project in the South Gobi Basin in Mongolia TMK Energy Limited provided an update on exploration activities at the Gurvantes XXXV Coal Seam Gas (CSG) Project in the South Gobi Basin in Mongolia. Drilling and testing of SL-05R was completed on 9 October 2022, having been drilled to a total depth of 510 metres with a total net thickness of 69 metres of coal intersected in the well. Geophysical logging has confirmed a total of 41 metres of net coal in the upper seam from a depth of 190 metres and 28 metres of net coal in the lower seam from a depth of 447 metres. Permeability testing (via Drill Stem Test) was completed over the upper seam interval and preliminary results indicate the higher permeability value to date for the Project. Detailed analysis and interpretation of the results are underway and final permeability readings will be reported when the analysis and interpretation is complete. The lower seam was unable to be tested for permeability due to poor hole conditions. Preliminary results from desorption samples indicate that all coal from a depth of greater than 200m contains moderate to high gas contents (in the order of 5 m3/t to 10 m3/t on an as received basis) from both the upper and lower coal seams. Final analysis and interpretation of all data from the 2022 exploration program will progressively become available as testing continues, including final gas contents, gas composition, and permeability results. Of note, samples from SL-02 and SL-03 are currently undergoing adsorption isotherm analysis in Brisbane, with results expected in the coming weeks. Drilling and testing for the 2022 exploration program is now completed and the drilling contractors have been demobilised from site. The focus will now shift to the advancement of the Pilot Well Program and the detailed planning and logistics that are required to deliver the proof-of-concept stage of the Project, which will be to produce first gas to surface. Announcement • Oct 05
TMK Energy Limited, Annual General Meeting, Nov 25, 2022 TMK Energy Limited, Annual General Meeting, Nov 25, 2022, at 11:00 W. Australia Standard Time. Location: 1202 Hay Street West Perth, WA 6005 West Perth Australia Agenda: To consider re-election and appointment of directors. Announcement • Sep 28
TMK Energy Limited Provides an Update on the Gurvantes XXXV Coal Seam Gas Project in the South Gobi Basin in Mongolia TMK Energy Limited provided an update on the Gurvantes XXXV Coal Seam Gas (CSG) Project in the South Gobi Basin in Mongolia. Snow Leopard - 03R: Drilling and testing of SL-03R was completed on 22 September 2022, having been drilled to a total depth of 558 metres with a total net thickness of 175 metres of gassy coal intersected in the well. Geophysical logging has confirmed a total of 73 metres of net coal in the upper seam from a depth of 174 metres and 102 metres of net coal in the lower seam from a depth of 455 metres, an overall increase of 25% from the previously reported coal thickness for SL-03R. TMK understands that SL-03R represents the thickest intersection of gassy coal in a CSG well in Mongolia to date. SL-03R was still drilling in coal within the lower seam at a depth of 558 metres, however, hole conditions were deteriorating, and it was determined to be unnecessary to proceed given the very thick coal already intersected. The well was then subsequently logged, and permeability testing was attempted over the lower seam interval. Preliminary results indicate that permeability testing was only partially successful, and results obtained are currently being interpreted. Preliminary results from desorption samples indicate that all coal from both the upper and lower coal seams contain high gas contents (in the order of 7.5 m3/t to 12.5 m3/t on an as received basis). Snow Leopard - 05: After intersecting the upper seam in SL-05, difficult drilling conditions prevented further satisfactory drilling progress toward the lower seam interpreted to exist at this location. SL-05 was re-spudded (SL-05R) and the well is currently at a depth of approximately 320 metres. The total depth of SL-05R is expected to be approximately 650 metres. Contingent Resource Assessment: Following the completion of the initial exploration drilling program, Netherland, Sewell & Associates Inc. (NSAI) have been engaged to commence the Company's maiden independent Contingent Resource assessment for the Gurvantes XXXV Project. NSAI are highly regarded international petroleum consultants and are considered one of the most experienced and respected coal seam gas certifiers globally. The Contingent Resource assessment is expected to take approximately 6 weeks to complete and will integrate the new data obtained from the initial exploration drilling program conducted over what to date, is only a small percentage of the Gurvantes XXXV Project area. Forward Program: With the completion of the fourth exploration well pursuant to the two stage farmout agreement with Talon Energy (TPD), the initial drilling obligation under Stage 1 is now complete. Following a formal election by TPD to proceed, the next stage of the farmout agreement consists of a commitment by TPD to fund 100% of the next USD 3.15 million which is budgeted towards the pilot production well program, after which it will have earnt a 33% interest in the Project. TPD can elect at any time within 90 days from 26 September 2022 (the date formal notice was provided to TPD) to proceed with the next funding stage. The Managing Director of TPD, along with representatives from TMK, have recently returned from a field visit to Mongolia and the Gurvantes XXXV Project area. Prior to and irrespective of any formal election from TPD with respect to the next stage of the farmout agreement, the Company has elected to fast track the planning and design process of the pilot well program. Announcement • Sep 15
TMK Energy Limited Provides an Operations Update on Drilling Activities At the Gurvantes XXXV Coal Seam Gas Project TMK Energy Limited provided an operations update on drilling activities at the Gurvantes XXXV Coal Seam Gas Project in the South Gobi Basin in Mongolia. Snow Leopard - 03R: SL-03R has intersected a net coal thickness of ~80 metres between the depths of 455 metres and 535 metres which represents the lower coal seam at this location. The coal seam presents as a single, high quality, clean and homogenous coal seam/unit and preliminary results from desorption samples indicate the full seam contains high gas content. Approximately 60 metres of net coal was previously intersected in the upper seam in SL-03R, consistent with the adjacent SL-03 well, resulting in a total of 140m of net coal thickness in the SL-03R well. Both the upper and lower coal seams appear to contain high gas contents (in the order of 7.5 m3/t to 12.5 m3/t on an as received basis). SL-03R is currently at a depth of 535 metres with drilling continuing ahead. When the lower coal seam has been fully intersected and total depth is reached, the well will be geophysically logged and permeability testing will be attempted over the lower seam interval. Snow Leopard – 05: SL-05 has intersected a net coal thickness of approximately 37m in the upper seam from a depth of approximately 155m. Coal core has been sampled for gas desorption, adsorption and composition analysis. Gas desorption measurements from the samples collected is ongoing, however as expected, preliminary results indicate that the shallow coal intersected has low to moderate gas contents, with gas contents increasing with depth. Low gas contents from coal at depths of <200 metres is typical for coal seam gas wells. SL-05 is currently at a depth of 350 metres and is drilling ahead to target the lower seam which is interpreted to exist at this location. SL-05 is expected to be drilled to a total depth of approximately 650m. Contingent Resource Assessment: On completion of drilling of SL-03R and SL-05, the 2022 exploration drilling program will be completed and the results from all the wells will be integrated into the geological model and will allow the Company to commence its maiden Contingent Resource assessment over the ~24 square kilometres that represents the central Narrin Sukhait area and is expected to be completed early fourth quarter 2022. This initial area, which represents <1% of the total prospective area within the 8,500 square kilometres within the Gurvantes XXXV Project area, is the first step in demonstrating the enormous potential of the CSG resources in the area. Announcement • Sep 01
TMK Energy Limited Announces Exploration Drilling Program Expanded TMK Energy Limited advised that, after the efficient drilling of Snow Leopard - 04 (SL-04), it has committed to drill SL-05 which is an opportunity to gather additional information on the upper and lower coal seams at relatively low cost at the Gurvantes XXXV CSG Project in the South Gobi Basin in Mongolia. SL-05 presents a low cost (USD 100,000) opportunity and is expected to be drilled to a depth of approximately 650 metres and is located midway between SL-02 and SL-04. SL-05 will complete the 2022 exploration drilling program and is being opportunistically undertaken to build on the excellent results to date and gather more data from both the upper and lower coal seams. The additional well is opportunistic given the current drilling rig is under contract and the necessary personnel and equipment are currently on site and available to complete the drilling and testing of an additional well. Drilling continues at the SL-03R location following the re-start of operations. SL-03R is specifically targeting the lower seam adjacent to where the upper seam was intersected in SL-03 and is expected to take approximately two more weeks to drill and test. The results from all five exploration wells will be incorporated into the dataset to determine the Company's maiden contingent resource assessment expected to be completed in October 2022. Announcement • Aug 29
TMK Energy Limited Announces SL-04 Well Has Successfully Intersected 40 Metres of Gassy Coal Within the Lower Coal Seam At the Gurvantes XXXV CSG Project in the South Gobi Basin in Mongolia TMK Energy Limited announced that SL-04 well has successfully intersected 40 metres of gassy coal within the lower coal seam at the Gurvantes XXXV CSG Project in the South Gobi Basin in Mongolia. SL-04 intersected a net coal thickness of approximately 40 metres between the depths of 287m and 327m representing the lower coal seam and presents as a single, high quality, clean and homogenous coal seam/unit as confirmed by geophysical logging. An additional 16 metres of coal was intersected at the top of the well, which represents the basal section of the upper coal seam, with the remaining portion of the upper coal seam above the sub-crop surface. SL-04 was not targeting the upper coal seam at this location and was designed to specifically intersect the lower coal seam at a shallower depth to get additional data on gas content and permeability of the lower seam. See Figure-1 for well location map. Coal core has been sampled for gas desorption, adsorption and composition analysis. Gas desorption measurements from the samples collected is ongoing with preliminary results indicating that the coal seam has moderate to high gas contents (in the order of 5.0 m3/t to 10. m3/t on an as received basis) broadly consistent with the gas content results from SL-01, SL-02, and SL-03. Drill Stem Test (DST) over the coal interval was successfully completed and results from the testing will be interpreted shortly to provide information on the permeability of the coal interval. Drilling activities have resumed on the SL-03R well after a significant hiatus due to mechanical breakdown of the drilling rig and crew unavailability due to Covid restrictions. SL-03R is specifically targeting the lower seam adjacent to where the upper seam was intersected in SL-03. The results from the four exploration wells completed to date (SL-01, SL-02, SL-03, SL-04), have all intersected very thick coal seams within either the upper and lower coal seams (or both) over a 10km strike. On completion of the SL-03R well, which has already successfully intersected the upper coal seam but is yet to intersect the lower coal seam, the four well initial drilling program under the farm-out agreement with Talon Energy Limited (TPD) will be complete and TPD will then have up to 90 days to elect to proceed to the next stage of the second stage of funding, being USD 3.15 million budgeted towards the pilot well program. The results to date from the testing of the coal seams compare very favourably with existing producing CSG fields from around the world and have provided the necessary data required for the Company to commence a contingent resource assessment and the Company continues to plan and advance the pilot well program scheduled to commence later this year. Announcement • Aug 18
TMK Energy Limited Provides Operational Update on the Gurvantes XXXV CSG Project in the South Gobi Basin in Mongolia TMK Energy Limited provided an operational update on the Gurvantes XXXV CSG Project in the South Gobi Basin in Mongolia. Well Testing and Results Analysis: Final gas content results are now available from the desorption samples taken from SL-02 and SL-03 and confirm that the targeted coal seams have high gas contents. Results from SL-02 average 9.5 m3/t (10.6 m3/t on a dry ash free (daf) basis) and results from SL-03 average 9.8 m3/t (11.8 m3/t on a daf basis). These high gas contents are particularly notable considering the relatively shallow depths, predominantly 170m - 300m, from which the samples were obtained. Adsorption isotherm analysis and petrography studies of coal samples from SL-01 have recently been completed in Australia. The adsorption isotherm analysis indicates that the coal seams are highly saturated, with gas saturation value results ranging from 78% to 92% with an average value of 84%. Gas saturation is an important parameter which impacts the production profile of wells and high gas saturation generally means gas production occurs soon after bringing the well online and increases the overall gas recovery. Petrography studies indicate that the coal is composed of predominantly (80%) vitrinite macerals, with a vitrinite reflectance value of 0.85% indicating a High Volatile Bituminous coal rank. The petrography studies along with the coal quality data indicate that the coal formation is in the ideal range for type, quality and rank for coal seam gas projects. The results from the exploration program to date compare very favourably with existing producing CSG fields all over the world. SL-03R and SL-04 Drilling Update: TMK has engaged a second drilling contractor, MLGDD, to accelerate the completion of the initial drilling program at the Gurvantes Project. MLGDD recently mobilised to site and commenced drilling of SL-04 on 16 August 2022. SL-04 is located approximately 6km to the east of SL-03R and is targeting the same coal formations successfully intersected in SL-01, SL-02, SL-03 and SL- 03R. SL-04 is planned to be drilled to a depth of around 350m and is specifically targeting the lower coal seam which at this location, is projected to be shallower in depth than previous drilling locations. The Company is currently in the process of re-drilling SL-03 (SL-03R) in order to intersect the lower seam at this location. SL-03R is currently at a depth of 260m having intersected the upper coal seam which appears consistent with the upper coal seam intersection in the adjacent SL-03 well. Progress on SL-03R has been hampered by several delays associated with the mechanical breakdown of the drilling rig and unavailability of personnel due to Covid cases within the contractor's drilling crew. The drill rig is currently operational, however in a limited capacity due to unavailability of drill crew due to Covid restrictions. Covid restrictions are stricter in the drilling area than the rest of Mongolia due to proximity to the Chinese border crossing at Shivee Khuren, which is strategically a very important export port for the nearby coal operations and has only recently been reopened. TMK has been working extensively with both drilling contractors to complete the remainder the exploration drilling program in a timely fashion. Announcement • Jul 12
TMK Energy Limited Announces Drilling Activities at the Gurvantes XXXV CSG Project in the South Gobi Basin in Mongolia TMK Energy Limited announced that drilling activities at the Gurvantes XXXV CSG Project in the South Gobi Basin in Mongolia continues to deliver excellent technical results. Preliminary results from permeability testing over the upper coal seam interval at Snow Leopard - 03(SL-03), including both Drill Stem Testing (DST) and Injection Fall Off Testing (IFOT), indicates a flow capacity between 760mD.m to 910mD.m and coal permeability value in the order of 15mD --20mD. Final results from permeability testing completed on the upper seam at SL-02 (located approximately 3km to the east of SL-03) are now available and confirm a high permeability of 47mD over the 70 metres of coal intersected in the upper seam. The permeability results from the upper coal seam at SL-02 and SL-03 are broadly consistent and indicate permeability of the upper coal seam in this part of the Project area is high. Coal core from the upper coal seam at SL-03 has been sampled for gas desorption testing and preliminary results indicate that the seams contain high gas contents in the order of 7.5m3/t to 12.5m3/t. Gas samples have been analysed and results confirm high methane (CH4) composition averaging 95%, and low carbon dioxide (CO2) contents averaging only 2.8%. After resolving issues associated with a broken core barrel at a depth of 318 metres, drilling resumed and intersected a further 13 metres of coal bringing the total net coal thickness of the upper coal seam at SL-03 to approximately 60 metres. At a depth of 348 metres, poor hole conditions required the current wellbore to be abandoned and the well has recommenced drilling on the same site to target to lower coal seam. Drilling of the new well commenced on 8 July and is currently drilling ahead at a depth of 156 metres. Announcement • Jun 29
TMK Energy Limited Announces 100% Drilling Success Rate Continues in Mongolia TMK Energy Limited advised that drilling on Snow Leopard - 03 (SL-03) has intersected approximately 47 metres of coal in the upper coal seam, from a depth of 190 metres. Coal core from the upper coal seam at SL-03 has been sampled for gas desorption testing and preliminary results indicate that the seams contain high gas contents. Downhole geophysical surveys and permeability testing have been successfully completed over the upper coal seam and included both Drill Stem Testing (DST) and Injection Fall Off Testing (IFOT). Preliminary results from the testing are expected to be available shortly. Drilling resumed following the successful testing of the upper coal seam, however, drilling is currently paused at a depth of 318 metres pending a fishing operation. When drilling recommences, the well will target the lower coal seam interpreted to exist at this location and is expected to be drilled to a depth of approximately 650m. SL-03 is the third well of the current four well exploration program. The results from SL-03 thus far are consistent with SL-01 and SL-02 located approximately three (3) kms to the west and east of SL-03 respectively, in that all wells have intersected a very thick upper coal seam with strong indications of high gas contents. The results to date demonstrate the continuity of the coal formations in the Narrin Sukhait area and validates the geological model that has been developed by the Company based on the extensive historical drill data that exists in the area. Announcement • Jun 17
TMK Announces Third High Impact Well Commences in Mongolia TMK Energy Limited announced that drilling has commenced on the third well (Snow Leopard 3 or SL-03) of the high impact maiden drilling program within the Gurvantes XXXV CSG Project in the South Gobi Basin of Mongolia. Permeability testing of the lower seam intersected at SL-02 was successfully completed and the results are currently being analysed. Following testing of SL-02, the rig underwent regular maintenance before being mobilised to SL-03, which is approximately 3km west of SL-02. Drilling commenced at SL-03 on 16 May and the well is currently at a depth of 30 metres and drilling ahead. SL-03 is planned to be drilled to a depth of approximately 650 metres and is targeting the same coal formations successfully intersected in SL-01 and SL-02. The results from SL-03 will provide yet another important data point in the overall delineation of the resource and the gas characteristics of the coal seams. Detailed planning for the pilot well program is underway with commencement of operations expected to be underway later this year. Announcement • Jun 10
TMK Energy Limited Announces 91 Metres of Gassy Coal on Snow Leopard - 02 TMK Energy Limited announced that drilling on Snow Leopard 02 (SL-02) has intersected a further 21 metres of coal in the lower seam, from a depth of 457m to 478.5m. This is in addition to the 70 metres of coal that was intersected in the upper seam at SL-02 and brings total net coal thickness intersected in SL-02 to 91 metres. Coal core from both the upper and lower coal seams at SL-02 have been sampled for gas desorption testing and preliminary results indicate that both seams contain high gas contents. Gas composition sampling and gas chromatography testing from samples from SL-02 confirm that the coal seam gas has high methane (CH4) concentrations between 95% and 98% (average 97%), and low carbon dioxide (C02) values between 0.6% and 3.3% (average 1.4%). The gas composition results from SL-02 are consistent with results from SL-01, drilled five kilometres to the west, where methane concentrations in gas samples averaged 96%. Drilling at SL-02 is now complete with the total depth of the well at 540 metres. Downhole geophysical surveys are currently being completed on SL-02 in preparation for potentially completing further permeability testing on the coal intersections, subject to hole conditions. On completion of testing and rehabilitation works on SL-02, the drill rig will be mobilised approximately three kilometres to the west to commence drilling of Snow Leopard 03, the third of the planned four well exploration drilling program. Announcement • Jun 04
TMK Energy Limited Announces Analysis of the DST and IFOT TMK Energy Limited announced that analysis of the DST and IFOT data over the upper coal seam interval at SL-02 has been completed and has delivered a flow capacity of 1,090 mD.m (millidarcy metre) over the test interval. The results indicate that the 70 metres of coal intersected in the upper seam has a high permeability, well within the range required to be able to produce gas from the coals at the SL-02 location. The combination of shallow, thick and high gas content coals together with good permeability are strong indicators of the commercial potential of the Gurvantes XXXV CSG Project and provides additional confidence for the Company to commence a process to fast-track planning for a pilot production facility later in the year. Gas desorption continues on coal samples recovered from the upper coal seam of SL-02 and final gas content readings of the high gas contents already observed from initial sampling will become available and be able to be confirmed once the desorption process has been completed. Drilling is continuing at SL-02 and is currently at a depth of 450 metres and drilling ahead to target a deeper coal seam interpreted to exist at this location. SL-02 is planned to be drilled to a depth of approximately 600 metres and is targeting the same coal formations intersected in SL-01. Announcement • May 30
TMK Energy Limited Announces Testing Successfully Completed on Upper Coal Seam at Snow Leopard TMK Energy Limited to advise that a DST and IFOT test of the upper coal seam at SL-02 were successfully completed with preliminary data indicating a far superior test result than that achieved at SL-01, where several operational challenges were experienced. The analysis of the data from the testing is currently being undertaken and is expected to be available shortly. SL-02 intersected approximately 70 metres of gassy coal in the upper coal seam from a depth of 167 metres. Coal core samples from SL-02 are being subject to gas desorption testing and preliminary results indicates that the coal has high gas contents as was seen and confirmed in SL-01. A further 17 of the remaining 41 gas desorption samples from SL-01 have now been taken offline and transported to Ulaanbaatar for Third Quarter (residual gas) and coal quality analysis with the remaining samples from SL-01 and all the samples from SL-02 continuing to produce gas at the laboratory on site. Drilling at SL-02 is currently at a depth of 378 metres and is drilling ahead to target a deeper coal seam interpreted to exist at this location. SL-02 is planned to be drilled to a depth of approximately 600 metres and is targeting the same coal formations intersected in SL-01. Announcement • May 23
TMK Energy Limited Announces Drilling on Snow Leopard 2 (SL--02) Has Intersected Approximately 70 Metres of Coal from the Upper Coal Seam from A Depth of 167 Metres TMK Energy Limited advised that drilling on Snow Leopard - 2 (SL-02) has intersected approximately 70 metres of coal from the upper coal seam from a depth of 167 metres. Coal core from SL-02 has been sampled for gas desorption testing and preliminary results indicates that the coal has high gas contents. This is particularly encouraging considering the relatively shallow depth of the coal intersection, where typically coal has lower gas contents and lower gas saturation. Drilling at SL-02 is currently at a depth of 360 metres and is drilling ahead to target a deeper coal seam interpreted to exist at this location. SL-02 is planned to be drilled to a depth of approximately 600 metres and is targeting the same coal formations intersected in SL-01. Downhole geophysical surveys and downhole permeability testing are also planned to be completed at SL-02 to acquire further data on coal seam thickness and characteristics. Further results on gas contents and permeability test data from SL-01 confirm high gas content results for the initial 6 desorption samples from SL-01 of between 11.4 m3/t and 15.2 m3/t and averaging 13.2 m3/t (range of 14.6 m3/t - 18.8 m3/t and average of 15.7 m3/t on a dry ash free basis). The high final gas content values from the initial SL-01 desorption samples are higher than expected. The remaining 41 desorption samples from SL-01 continue to produce gas, and final gas content values will be confirmed once gas desorption rates decrease to the level required to make a final measurement. Coal quality data indicates that the coal is a high quality coal and high volatile A to B bituminous in rank (ASTM Standard), which is consistent with most major CSG producing basins worldwide including the Surat and Bowen Basin's in Australia. A combination of Drill Stem Test (DST) and Injection Fall Off Test (IFOT) testing was attempted over multiple intervals in SL-01. The testing process faced several operational challenges associated with the test equipment, hole conditions and testing methods. Interpretation of the available test results indicated a flow capacity of approximately 4.1 mD.m over the upper seam interval. Further equipment suitable for a range of permeability testing methods, is currently being mobilised to site in preparation for permeability testing on SL-02. Announcement • May 18
TMK Energy Limited Announces Drilling Commences at Snow Leopard - 2 TMK Energy Limited announced that drilling has commenced on the second well (Snow Leopard 2 or SL-2) of its high impact maiden drilling programwithin the Nariin Sukhait area of the Gurvantes XXXV CSG Project in the South Gobi Basin of Mongolia. Following the completion of drilling and testing of SL-1, the drilling rig underwent routine maintenance before being relocated to the SL-2 site, which is approximately 5km east of SL-1. Drilling recently commenced at SL-2 and the well was at a depth of 93 metres and drilling ahead as of Sunday evening. SL-2 is planned to be drilled to a depth of approximately 600 metres and is targeting the same coal formations intersected in SL-1. The well will be cored, and any significant coal seams intercepted will be sampled and subjected to the same gas desorption testing as was undertaken at SL-1 to provide data on gas content, saturation, and composition at this location. Downhole geophysical surveys and downhole permeability testing are also planned to be completed to acquire further data on coal seam thickness and characteristics at the SL-2 location. Further results on gas contents and permeability test data from SL-1 are expected to be available shortly. Samples from SL-1 have also been prepared for despatch to Australia for adsorption isotherm rank. On completion of SL-2, a further two fully cored holes within the Nariin Sukhait area are planned to be drilled and tested over the next 2-3 months. Following completion of the four well drilling program, the data collected from this initial drilling campaign will be collated and analysed to assist in the engineering and design of a pilot well program designed to further de-risk the asset and demonstrate a proof of concept for what could be a significant gas resource development over a very large area. The commencement of the pilot well program remains on track in the second half of 2022.Additionally, the data collected from the initial four well drilling campaign is expected to enable the Company to convert a portion of the independently certified 5.96 TCF (2U risked) Gross Prospective Resource into a maiden contingent resource in 2H 2022. Announcement • May 12
TMK Energy Limited Announces Completion of Drilling and Testing At Snow Leopard - 1 TMK Energy Limited provided an operations update on its initial well (Snow Leopard 1 or SL-1) at its high impact maiden drilling program within the Nariin Sukhait area of the Gurvantes XXXV CSG Project in the South Gobi Basin of Mongolia. Drilling and testing of SL-1 has recently completed, with the well being drilled to a total depth being 675 metres with a total of 60 metres of net coal intersected in the well (44.4 metres in the upper seam and 15.5 metres thickness in the lower seam). DST and IFOT tests were performed across selected intervals with the analysis of the data and interpretation of the results ongoing. During the DST testing, gas breakout was observed which supports the understanding the coals have high gas saturation. Further results on permeability indications from the DST and IFOT testing are expected to be available in the coming week. Desorption testing of coal core to obtain definitive gas content data is ongoing as the cores continue to produce gas. Based on current data, it is now expected that the final gas content of the coal seams is likely to end up in the upper end of the previously indicated range of 7.5m3/t to 12.5m3/t on an as received basis. Gas composition sampling and gas chromatography testing is ongoing and the results confirm that the coal seam gas has high methane (CH4) concentrations between 94.4% and 98.8% (average 96.0%), and low carbon dioxide (CO2) values between 0.3% and 5.1% (average 3.0%). SL-1 and the drill site will now be rehabilitated in accordance with local requirements. The drill rig will mobilise to approximately 5 kilometres east of the SL-1 location, with drilling of the second of the planned four well drilling program expected to commence within the next week. The next well (Snow Leopard 2 or SL-2) is planned to target the same coal formations intersected in SL-1. Drilling and testing of SL-2 is expected to take approximately four weeks, with operational improvements implemented from experience gained from the first well. Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Non-Executive Director Gema Gerelsaikhan was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Apr 12
TMK Energy Limited Gassy Coal Seam Intersected in Mongolia TMK Energy Limited announced that it has intersected 44 metres of gassy coal in the upper coal seam in the first well (Snow Leopard - 1) of its high impact maiden drilling program within the Nariin Sukhait area of the Gurvantes XXXV CSG Project in the South Gobi Basin of Mongolia. The well has intersected a net coal thickness of approximately 44 metres between the depths of 406m and 461m. Coal core has been sampled over the last week for gas desorption, adsorption and composition analysis. Gas desorption measurements from the 36 individual desorption samples collected to date, is ongoing, however preliminary results indicate that the coal seam has high gas content (in the order of 7.5m3/t to 12.5m3/t on an as received basis) and high gas saturation, consistent with the Company's current geological understanding. Based on visual assessment of the coal core, the coal is considered to have a well developed cleat system (natural fracture network) which is a positive indicator for permeability. Drilling through the upper coal seam was completed on 10 April 2022 and the well is currently at a depth of 480m. Drilling is currently paused to allow for downhole geophysical surveys to be run in the hole to confirm net coal thickness and identify intervals for DST testing. DST testing will be attempted to be completed over selected coal intervals to provide quantitative data on the permeability of the coal intervals, before resuming drilling to target a second deeper coal seam that is interpreted to exist at this location. Following completion of Snow Leopard-1, a further three core holes spaced approximately 3.5km apart, are expected to be drilled and tested over the next 3-4 month period. These drill holes will continue to target the highly prospective coal seams identified at Nariin Sukhait from existing exploration data and coal mining activities and now further validated by the initial results from Snow Leopard-1. On completion of the drilling program, the resulting data is expected to enable the Company to convert a portion of the independently certified 5.96 TCF (2U risked) Gross Prospective Resource into a maiden contingent resource for the Nariin Sukhait area in 2H 2022. This will be a major milestone in the potential establishment of a world class gas project adjacent to one of the world's largest gas markets, China. The drilling program is being funded by TMK's joint venture partner Talon Energy Limited under an existing USD 4.65 million two-stage farm-out agreement executed in February 2021. Initial funding of USD 1.5 million is allocated to the current four well drilling and testing program. The second stage of funding, being USD 3.15 million, is currently budgeted towards the pilot well program being planned for later this year, should TPD elect to proceed with the second stage of the farm-out. Snow Leopard - 1 has intersected 44 metres of gassy coal in the upper coal seam between the depths of 406m and 461m. Preliminary gas desorption results assessed over the weekend indicate high gas content and high gas saturation. Downhole geophysical surveys and a DST of the upper coal seam now underway, after which, drilling will continue to target a second lower coal seam. Snow Leopard - 1 is the first of four drill holes in the current exploration program, targeting thick coal seams at the Gurvantes XXXV Coal Seam Gas (CSG) Project in Mongolia. Announcement • Apr 04
TMK Energy Limited Announces Executive Changes TMK Energy Limited announced that Mr. Dougal Ferguson has been appointed Company Secretary following the resignation of Ms. Sylvia Moss. Announcement • Feb 16
Tamaska Oil and Gas Limited (ASX:TMK) completed the acquisition of Telmen Energy Limited from Tsetsen Zantav and others. Tamaska Oil and Gas Limited (ASX:TMK) entered into a binding terms Sheet to acquire Telmen Energy Limited from Tsetsen Zantav and others for AUD 28.8 million on December 16, 2021. The consideration of consists of 1.6 billion fully paid ordinary shares in TMK and 1.6 billion performance shares in TMK converting into fully paid ordinary shares upon successfully achieving certain performance targets and milestones. In addition, TMK has agreed to issue 200 million performance rights to the management and certain board members of Telmen. The issue of all the consideration securities is subject to receiving TMK’s shareholders’ approval. Brendan Stats has been appointed Chief Executive Officer of TMK and Brett Lawrence will step down as Managing Director and assume a non-executive director role. Gema Gerelsaikhan and Stuart Baker, two of the existing non-executive directors of Telmen have been appointed to the Board of TMK and Logan Robertson has resigned as a director. Tsetsen Zantav, the major shareholder of TMK holding approximately 27.4%, has been appointed as an advisor to the Board. The transaction is subject to TMK shareholder approval, due diligence, regulatory approvals, including approvals for the Capital Raising and the issue of the performance rights, TMK having received firm commitments for an equity capital raising to raise of AUD 1.96 million (before transaction costs) at an issue price of not less than AUD 0.008 per TMK share, TMK not entering into any agreement to issue or issuing any further securities other than the consideration shares, the performance shares, the management performance rights, the introduction fee, or the securities issued pursuant to the capital raising, TMK having not less than AUD 3.8 million in cash at completion, the Telmen shareholders other than the major shareholders each having entered into an agreement with TMK for the sale of their Telmen shares and other relevant approvals. As of February 3, Mongolian Ministry of Nature, Environment and Tourism has approved the project. As of February 11, 2022, shareholders of TMK have approved the transaction. The transaction is expected to close on February 14, 2022.
Tamaska Oil and Gas Limited (ASX:TMK) completed the acquisition of Telmen Energy Limited from Tsetsen Zantav and others on February 15, 2022. Announcement • Feb 11
Tamaska Oil and Gas Limited Approves the Appointment of Gema Gerelsaikhan Stuart Baker as Directors Tamaska Oil and Gas Limited approved the appointment of Gema Gerelsaikhan Stuart Baker as Directors, at its General Meeting held on 11 February 2022. Announcement • Feb 03
Tamaska Oil and Gas Ltd Announces the Project Owner Telmen Energy Limited (Telmen) Receives Approval for the Environmental Impact Assessment for the Gurvantes Xxxv Project Tamaska Oil and Gas Ltd. advised that it has been notified by the project owner Telmen Energy Limited (Telmen) that the Environmental Impact Assessment (EIA) for the Gurvantes XXXV Project has been approved by the Mongolian Ministry of Nature, Environment and Tourism. As a result of the EIA approval, Telmen will mobilise to site within the next few weeks to complete final site preparation ahead of the Gurvantes XXXV maiden drilling program scheduled to commence in late February - early March 2022. The drilling program will include the completion of 4 fully tested and cored holes within the western portion of the Gurvantes XXXV Project area, in the region of Nariin Sukhait. Nariin Sukhait has a number of active open cut coal mining operations, and has been extensively explored for coal over the last 15 years. The area is known to contain two very thick, high quality coal seam groups and preliminary coal seam gas data from 5 wells indicates high gas contents. The drilling program aims to intersect the thick coal seams at suitable depths for coal seam gas development and complete the first comprehensive testing program to further define the significant gas resource potential of the Project. The drilling program is the first step in proving up a world class gas project, adjacent to one of the world's most significant gas markets - China. TMK is in the process of acquiring 100% of Telmen as announced on 16 December 2021, with shareholder approval being sought at a General Meeting on 11 February 2022. If approved by shareholders, TMK expects to complete the acquisition of Telmen on or about 14 February 2022. Reported Earnings • Sep 25
Full year 2021 earnings released: AU$0.001 loss per share (vs AU$0.002 loss in FY 2020) Full year 2021 results: Net loss: AU$574.2k (loss narrowed 48% from FY 2020). Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Executive Departure • Jun 24
Executive Director Joseph Graham has left the company On the 15th of June, Joseph Graham's tenure as Executive Director ended after 1.6 years in the role. As of March 2021, Joseph still personally held 30.00m shares (AU$180k worth at the time). Joseph is the only executive to leave the company over the last 12 months. Executive Departure • Jun 23
Executive Director Joseph Graham has left the company On the 15th of June, Joseph Graham's tenure as Executive Director ended after 1.6 years in the role. As of March 2021, Joseph still personally held 30.00m shares (AU$180k worth at the time). Joseph is the only executive to leave the company over the last 12 months. Announcement • Mar 15
Tamaska Oil and Gas Limited, Annual General Meeting, Apr 13, 2021 Tamaska Oil and Gas Limited, Annual General Meeting, Apr 13, 2021, at 10:00 W. Australia Standard Time. Location: 102 Forrest Street Cottesloe Western Australia Australia Agenda: To consider ratification of prior issue of consideration shares under listing rule 7.1 capacity; and to consider approval to issue consideration performance shares. Announcement • Feb 24
Tamaska Oil and Gas Limited (ASX : TMK) agreed to acquire 20% stake in Talisman Deeps Project. Tamaska Oil and Gas Limited (ASX : TMK) agreed to acquire 20% stake in Talisman Deeps Project on AUD 1.1 million February 22, 2021. The consideration include issue by TMK of 45 million ordinary shares and 45 million performance shares. The terms and issue of the performance shares is subject to ASX Limited approval and TMK shareholder approval. In the unlikely event such approval is not obtained, TMK will transfer back a 10% interest in Company, who will progressing the oil and gas leads and prospects within Talisman Deeps and retain a 10% interest. issue of consideration ordinary shares is planned on February 24, 2021 and performance shares issuance will held on March 31, 2021, after approval of issue of consideration performance shares in Shareholder meeting. The deal is expected to close on February 24, 2021. Reported Earnings • Sep 29
Full year earnings released - AU$0.0016 loss per share Over the last 12 months the company has reported total losses of AU$1.10m, with losses widening by 422% from the prior year. 
