Jade Gas (ASX: $JGH) Update on Accelerated Pathway to Gas Production

Jade Gas Holdings Limited (ASX: $JGH) has announced its decision to fast track the path to gas production for its coal bed methane gas project at the Tavantolgoi basin in Mongolia. The company is moving directly to a production focused resource development phase, bypassing the need for a pilot program. The strategy is funded with the remaining A$7.9M available from UBM.

Executive Commentary on Accelerated Pathway to Gas Production

This is an exciting time for all Jade stakeholders as we transition quickly to the resource development phase focused on a faster pathway to gas production. The Red Lake Block is our most developed area within the TTCBM Project and as a stand-alone it stands up impressively with AAG's Panzhuang and Mabi Projects. Strong gas results give us a foundation where we can now replicate the same rapid development success that we have seen across analogue projects with confidence. Importantly, visible demand for gas on our doorstep validates our customer market potential which essentially shows that we have a real project.

Summary of Jade Gas (ASX: $JGH) Announcement

Jade Gas (ASX: $JGH) has decided to accelerate its pathway to gas production for its coal bed methane gas project in Mongolia. The company is bypassing the pilot program phase and moving directly to a production focused resource development phase. The decision is supported by strong gas results and high demand for gas in the region. Jade has selected a drilling contractor to commence a fully integrated drilling program, with funding secured from UBM. The move is expected to capitalize on growing customer demand for gas in Mongolia and support the conversion of gas sale opportunities in the short-term. The company's strategy aims to provide an economically viable and reliable supply option to the power and transport sectors in Mongolia, contributing to the country's energy independence and decarbonization goals.