Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Jade Gas Holdings Limited ( (AU:JGH) ) has shared an announcement.
Jade Gas Holdings has secured approval from Mongolia’s Mineral Resources and Petroleum Authority for its Appraisal Report on the TTCBM gas project, confirming the commerciality of the discovery and completing the key appraisal phase. This clearance marks a pivotal step in the company’s transition from exploration to development of a significant domestic gas operation.
With the appraisal approval in place, Jade will proceed to reserve booking and registration with the Mongolian Minerals Council, initially covering a small 4.2 square kilometre area and one of several gassy coal seams. Once reserves are acknowledged, the company plans to submit its Plan for Development of Operations, outlining a phased drilling program of up to 175 wells initially and potentially around 800 wells over a project life exceeding 30 years, positioning Jade as a foundational gas supplier in Mongolia.
More about Jade Gas Holdings Limited
Jade Gas Holdings Ltd is an Australian-listed energy company focused on coal bed methane development in Mongolia. Its primary project, the TTCBM gas field, targets the creation of Mongolia’s first significant gas operation, with an initial focus on supplying liquefied natural gas to local transport, mining and industrial power users.
Average Trading Volume: 2,260,264
Technical Sentiment Signal: Buy
Current Market Cap: A$99.36M
Find detailed analytics on JGH stock on TipRanks’ Stock Analysis page.