Key Highlights

  • TMK Energy (ASX:TMK) reported average daily gas production of 971 cubic metres in October, up about 11% from September and a record monthly result.
  • The increase was achieved without additional wells or re-completions from the 2026 work program.
  • A drilling rig and a workover rig are on location, and well LF-08 is expected to spud this week.
  • The regulator has accepted the declaration of a gas discovery at the Pilot Well Project, allowing progression from an exploration licence to a production licence.

TMK Energy Limited (ASX:TMK) reported on 9 November 2026 that gas production at its 100%-owned Gurvantes XXXV Pilot Well Project continued to rise in October. The company describes the month as a record, as it begins its 2026 drilling and re-completion program. Production rates, the start of the work program and a regulatory milestone are all included.

October Production Performance

Average daily gas production rose to 971 cubic metres per day, or about 34,300 standard cubic feet per day, in October. This compares with an average of 872 cubic metres per day in September, or about 30,800 standard cubic feet per day. The company says the gain came without additional wells or re-completions.

Chief Executive Dougal Ferguson described the increase as a substantial rise in gas rates. The figures remain small in absolute terms, and Revenue or cost data that would show the economic effect of the production gain are not provided.

The 2026 Work Program

A drilling rig and a workover rig are now on location, with well LF-08 expected to spud this week. The company expects the well and three planned well re-completions to add to production over the coming months.

Progress on these activities is the main driver of the company’s production outlook. Until the new wells and re-completions are brought into production, the results reported in October reflect the existing well base alone.

The sequencing of the work program is important. The new well and the re-completions are expected to add production, while the October rate was achieved on the existing well base. The next monthly figures will therefore show two effects together: the contribution of the existing wells and, as they come online, the contribution of new activity. Output rising without the new work suggests the existing base is responding, though the reasons for the increase are not explained.

Regulatory Milestone and Remaining Risks

The regulator has accepted the declaration of a gas discovery at the Pilot Well Project. TMK says this allows the project to move from an exploration licence to an exploitation or production licence, which is a necessary step before commercial development can proceed.

Production rates from a pilot-scale project can change quickly, and the upward trend could slow as the existing wells mature. Timelines for the re-completions or for LF-08 to reach full production have not been given.

Final Word

TMK’s October figures show the pilot project producing more gas from its existing base, and the regulatory acceptance adds a formal step toward production. The company’s next results will depend on the performance of LF-08 and the re-completions, and on whether the production gains continue. Monthly production updates will provide the clearest measure of progress.

The next monthly updates will show whether production continues to rise once LF-08 and the planned re-completions are added, and whether the regulatory progress from exploration to production licensing leads to further steps.