TMK gets set for coal seam gas as ex-Sino exec joins board

West Australian

19-05-2025

Just days after selling its offshore gas interests in WA to focus on the company's Gurvantes XXXV coal seam gas play in Mongolia, TMK Energy has appointed coal seam gas expert and former Sino Gas and Energy managing director Glenn Corrie to its board.
Corrie has worked across the energy, private equity and investment management sectors and has a record of leading listed and private companies through major growth and transition phases.
As managing director of formerly ASX-listed Sino Gas and Energy, Corrie was largely responsible for stuffing half a billion dollars into shareholders' pockets when that company was taken private in 2018 for that amount by United States private equity group, Lone Star Funds.
At the time Sino had developed a string of coal seam gas projects, largely in the Ordos Basin, China's largest gas-producing region.
Corrie has also held leadership roles at United Kingdom-based Neo Energy and Ophir Energy, which was also taken out by private interests for about half a billion dollars.
He is currently chief executive director and managing director at Perth-based clean hydrogen technology company Hazer Group.
Earlier in his career, the petroleum geophysicist spent more than a decade at Shell International, where he worked through commercial and business development roles to become the manager of global LNG strategy and portfolio.
'Securing someone of Glenn's calibre is a significant endorsement of the Gurvantes project. Glenn's knowledge and experience, particularly from his time at Sino Gas & Energy, add to the skills profile of the board.'
TMK Energy chairman John Warburton
Corrie said TMK was well advanced in running a ruler over Gurvantes, which is strategically located to serve an energy-hungry part of the world.
'I'm looking forward to working alongside the board and management, drawing on prior experience and extensive knowledge of the region to unlock what is clearly a potentially significant discovered resource,'
he said
.
Gurvantes is less than 20 kilometres from the Chinese border and close to existing gas infrastructure in northern China. The location offers the company a great leg-up to supply gas into the world's largest energy market.
To free up resources for the final push at Gurvantes and lessen its risk exposure to expensive offshore operations, TMK last week executed a sale agreement to divest its 20 per cent interest in the Talisman Deeps offshore project in Western Australia's Barrow-Dampier sub-basin.
Management agreed on a deferred $1 million consideration for the sale, payable when Talisman starts commercial oil or gas production.
Meanwhile, TMK's Pilot Well project within Gurvantes has been moving ahead at pace in southern Mongolia.
The company has been setting record gas production levels at Pilot Well and most recently announced a 10 per cent boost in its March output to achieve more than 10,000 cubic metres of gas.
Pilot Well also pumped out record daily gas volumes in March.
Gas slugs and reservoir pressure tests of several of Gurvantes' Lucky Fox wells also offer promising signs that the company's pilot well project is heading towards its critical desorption pressure.
TMK also plans to drill an additional pilot production well at Lucky Fox before the end of June, which would help lift its production volumes and potentially add to gas sales under a sales agreement with Jens Energie LLC.
The company's contingent resource (2C) of 1214 billion cubic feet (BCF) of gas is Mongolia's biggest. The project currently contains a 5300BCF prospective resource across its total 8400-square-kilometre ground.
With Corrie on board and Gurvantes seemingly smoothly progressing towards commercial production, TMK is well poised to take further steps towards the project's commercialisation.
With that in hand, the company has now moved strategic partnerships and potential offtake agreements to the top of its to-do list.
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