Elixir Energy: Reaches milestone production rate at Nomgon, Mongolia

Elixir Energy Reaches milestone production rate at Nomgon, Mongolia

• Elixir Energy’s (EXR) pilot production project in Mongolia reaches a flow rate of 100,000 cubic feet of gas per day
• The two-well program, within EXR’s Nomgon IX coal bed methane production sharing contract in the South Gobi Basin, hit the milestone production rate after being operational for 83 days
• However, the Nomgon eight well has not performed as steadily as Nomgon nine, facing several technical issues including a downhole equipment mechanical fault
• The pilot production test is continuing, and assessments of commerciality will be completed in the coming months
• EXR shares are up 5.77 per cent trading at 14 cents at 2:26 pm AEDT