Block XX

  • 3,500km of 2D seismic (300km reprocessed in 2018/19), 133km2 3D seismic acquired over Davsan Tolgoi and access to 60km2 of PetroChina 3D seismic over northern part of the block
  • Full coverage 2-4km land based gravity surveys
  • 12 legacy exploration wells on flank of one sub-basin, proved moveable hydrocarbons and play potential, refocused strategy to target traps closer to the kitchen area
  • Heron-1 discovery made in 2019 drilling campaign. Commercial well test rates achieved. Competent Persons Report supports oil volume in the Heron Structure
  • Gazelle-1, c.5 km west of Heron-1, encountered oil shows and was suspended for potential well testing
  • Red Deer-1, Asgat Basin in south Block XX drilled with oil shows proved active petroleum system
  • Reserves Report and Plan of Development for the Heron-1 discovery approved by Mineral Resources Professional Council in early 2021
  • 25 Year Exploitation License covering 218km2 of the northern part of Block XX awarded by the Minister of Mining and Heavy Industry in July 2021
  • Rest of Block XX exploration area relinquished 
  • In July 2023, Mongolian Cabinet approved for Block XX exploitation area to be certified as special purpose area which allows for the final agreements to be established with local governments to fully legalise access to the acreage for first oil operations