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Jade Gas Holdings Limited ( (AU:JGH) ) has provided an update.
Jade Gas Holdings reported that December gas production at its Red Lake Gas Field in Mongolia was temporarily reduced due to an unplanned shutdown on the Hz-01 well during a generator maintenance switch-over, prompting engineers to lower flow rates to protect well integrity before recovering aggregate output to 1,542 m³ per day by month-end. The company is upgrading power infrastructure with automatic redundancy and moving toward switching site operations from diesel to self-produced gas this quarter, while ongoing production performance will underpin completion of its Field Development Plan, economic study, and resource and reserve evaluations for submission to Mongolian regulators, reinforcing momentum toward commercialisation and longer-term field development.
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 energy company focused on developing coal seam gas resources at the Red Lake Gas Field in the South Gobi region of Mongolia. The company is progressing early-stage production and infrastructure with the goal of supplying gas for on-site power generation and displacing imported diesel in this remote mining and industrial hub.
Average Trading Volume: 1,224,023
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$58.85M
Find detailed analytics on JGH stock on TipRanks’ Stock Analysis page.