TMK Energy Posts Record October Gas Production of 971m³/day at Gurvantes Pilot Well Project

Shwetambri Chauhan

09 November 2026 03:33 PM AEDT

TMK Energy Posts Record October Gas Production of 971m³/day at Gurvantes Pilot Well Project

Image Source: Krish Capital Pty Ltd

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TMK Energy Limited (ASX:TMK) reported record monthly gas production at its 100%-owned Gurvantes XXXV Pilot Well Project in October 2026, with average daily gas production reaching approximately 971m³ per day (~34,300 scfd), an approximately 11% increase compared with September's average of approximately 872m³ per day (~30,800 scfd).

Key Points

Average daily gas production in October reached approximately 971m³ (~34,300 scfd), up approximately 11% from September's approximately 872m³ (~30,800 scfd)
The regulator MRPAM accepted a Declaration of Gas Discovery at the Pilot Well Project, enabling progression from an exploration licence to an exploitation/production licence
Both a drilling rig and a workover rig are on location, with the 2026 Work Program underway and well LF-08 expected to spud imminently
The Final Investment Decision on the Gas to Power demonstration project has been deferred to Q1 2027 following delays in commencing the 2026 Work Program

October Production Performance and Field Operations

Average gas production during October was approximately 971m³ per day (~34,300 scfd), representing an approximately 11% increase over September's average rate of approximately 872m³ per day. The company said production uptime was high during October, with only occasional short power interruptions. Water production across the field during October was stable at approximately 410 barrels of water per day. The company disclosed that LF-02, described as the second-best producer in the field, is planned to be shut in for a pressure build-up test coinciding with the drilling of LF-08, which may result in a reduction of overall gas production during November.

Regulator Acceptance of Gas Discovery Declaration

According to the filing, the regulator MRPAM accepted a Declaration of Gas Discovery at the Gurvantes XXXV Pilot Well Project during October. The company said this acceptance initiates a process that will allow for the application for an exploitation/production licence, which the filing states can be effective over a period of 30 years or more. The company described this acceptance as a significant milestone and noted it enables progression from the existing exploration licence to an exploitation/production licence framework.

2026 Work Program Progress and Gas to Power Update

The 2026 Work Program commenced during October following several unscheduled delays in equipment delivery, beginning with clean-out and preparation of the idle LF-03 well for the first of three planned re-completions. The workover rig arrived on site during October, and the drilling rig for LF-08 arrived on site late in the prior week and has been rigged up. The drilling and re-completion elements of the 2026 Work Program are expected to be completed during November, with LF-08 scheduled to be on production in mid-December 2026. Engineering and costings for the Gas to Power demonstration project with Dashvaanjil Group LLC have been completed, however the Final Investment Decision has been deferred to Q1 2027. The company said it remains fully funded for the 2026 Work Program.

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