Nomgon Coal Bed Methane License project

GOH LLC holds the Nomgon-IX Coal Bed Methane Production Sharing Contract — at 2.25 million ha (22,500 km²) the largest of the four PSCs in Umnugovi province, and Mongolia's largest CBM position, located in the South Gobi Basin approximately 500 km south of Ulaanbaatar and ~70 km from the Gashuun Sukhait border crossing into China, the world’s largest gas import market. The world-class Tavan Tolgoi coking-coal complex sits at the centre of the PSC, providing established roads, power, water, labour and — from 2027 — heavy rail.

Eight field seasons (2019–2024) and US$20.5 million of expenditure have taken the asset from frontier acreage to the most-drilled CBM position in Mongolia: 49 wells (32,016 m), 1,075 km of 2D seismic across 47 lines, four CBM discoveries and a two-well pilot now in production and dewatering. ERCE’s independent 2020 assessment attributes a risked prospective resource of 14.6 Tcf (best case; 19.9 Tcf mean) to the PSC, with a 30% chance of geological success, and an initial contingent resource (2C recoverable 24 Bcf) was booked in 2021 over the small initial power-project supply area.

Following Elixir Energy’s February 2025 farm-out and the completion of Elixir’s exit on 17 August 2026, GobiTerra (UK) Ltd holds 100% of Golden Horde Pty Ltd and thereby of GOH LLC — a single-owner structure with no minority interests or carry obligations. The sponsors are now raising Phase A strategic capital of US$20–35 million to complete appraisal, deliver sustained pilot gas flow, and convert the resource base into Mongolia’s largest independent 2C certification — the platform for FID inside 18 months and first commercial gas in years 4–5.

Highlights

•   Scale: the largest CBM PSC in Mongolia — 2.25 million ha (22,500 km²), with >700,000 ha of prospective sedimentary basins; risked best-case prospective resource of 14.6 Tcf (ERCE, 2020).

•   Proof: four CBM discoveries (Yangir West, Yangir Big Slope, Nomgon–Tsagaan Tolgoi, Nomgon Pilot); coal seams 20–71 m thick; gas contents up to ~5.5 m³/t (as-received) in the Big Slope series.

•   Pilot: a two-well pilot is in production testing and dewatering; demonstrating sustained gas flow is the objective of the current programme.

•   Location: inside the Tavan Tolgoi corridor: dual-gauge railway under construction to 165 Mt/yr coal capacity by 2027; prospective routing of the 50 bcm/yr Soyuz Vostok / Power of Siberia 2 trunk line (trilateral MOU, September 2025).

•   Clean structure: GobiTerra (UK) Ltd holds 100% following completion of Elixir Energy’s exit on 17 August 2026 — one seller, no minority interests, no carry obligations, no options outstanding.

•   Validated market: Jade Gas’s November 2025 A$70M / US$46M LOI with Zhengzhou Langrun and TMK Energy’s Talon farm-in show Chinese and regional strategic capital actively funding Mongolian CBM today.