Jade Gas Ignites Production at Red Lake Project

Jade Gas Holdings Limited (AU:JGH) has released an update.

Jade Gas Holdings Limited has kicked off drilling operations for its initial four-well gas production program at the Red Lake Gas Project in Mongolia, with an eye on establishing commercial gas flow rates and generating first revenue. Capitalizing on the high demand for gas, particularly LNG for diesel replacement in the South Gobi region, the company has partnerships in place for future gas sales. Following the initial program’s success, Jade plans to expand with a fully funded twenty well program in partnership with Yan’an Drilling Wellking Energy Technology Service Company Limited.

For further insights into AU:JGH stock, check out TipRanks’ Stock Analysis page.