Mongolia approves Gurvantes CBM project PSA Jul 13, 2021 2:15:am Summary by: Shardul Sharma Posted in: Mongolia approves Gurvantes CBM project PSA The Mongolian cabinet has approved the production sharing agreement (PSA) with Telmen Resource regarding the Gurvantes XXXV coalbed methane (CBM) project, Australia’s Talon Energy, a partner in the project, said on July 12. The Mineral Resources and Petroleum Authority of Mongolia has been instructed by the ministry of mining and heavy industry to formally execute and issue the PSA, and this is expected to occur in the coming weeks, the company said. Talon said that the receipt of cabinet approval had been delayed by the ongoing COVID-19 situation in Mongolia. As a result of these delays, and as consideration for Telmen agreeing to extend the exclusivity period relating to the farm-in, the Australian explorer will issue Telmen options to acquire its shares upon the formal issuance of the PSA.