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Jade Gas Holdings Limited ( (AU:JGH) ) has provided an announcement.
Jade Gas Holdings reported that uninterrupted gas production from its two horizontal wells at the Red Lake Gas Field in Mongolia drove a 22% month-on-month increase in January gas output to 48,589m³, with cumulative production now exceeding 215,000m³ and an aggregate end-of-month flow rate of 1,695m³. The company said the appraisal phase at Red Lake is nearing completion and is expected to support its maiden gas reserves report, after which it plans to submit a development plan and production licence application to Mongolian authorities, marking a key step toward full-field development and commercialisation, while ongoing technical studies with nearby mine operator Erdenes Tavan Tolgoi are expected to refine reservoir understanding and future seismic work.
The most recent analyst rating on (AU:JGH) stock is a Sell with a A$0.03 price target. To see the full list of analyst forecasts on Jade Gas Holdings Limited stock, see the AU:JGH Stock Forecast page.
More about Jade Gas Holdings Limited
Jade Gas Holdings Limited is an ASX-listed gas exploration and production company focused on the Red Lake Gas Field in the South Gobi region of Mongolia. The company is developing coal seam gas resources, with operations centred on horizontal production wells and an appraisal program aimed at underpinning commercial gas production and future field development in the Mongolian energy market.
Average Trading Volume: 1,073,811
Technical Sentiment Signal: Sell
Current Market Cap: A$51.5M
Find detailed analytics on JGH stock on TipRanks’ Stock Analysis page.