Jade Gas Holdings Limited (ASX: $JGH) completes successful drilling campaign at Baruun Naran coal field

Jade Gas Holdings Limited (ASX: $JGH) has successfully completed its prospecting activities at the Baruun Naran coal field (BNG or BNG Project) in Mongolia. The drilling campaign resulted in significant gas-bearing coal intersections, with a total of seven wells finalizing prospecting activities at BNG. The Company is now focusing on accelerating commercial activities at the Red Lake field for gas production wells to commence next month.

Executive Chairman, Dennis Morton, on successful gas results from BNG

The high gas results at BNG give us a potential second key energy project in Mongolia's South Gobi region, which, importantly, has a large customer market attached to it through our partnership with MMC. Jade's primary focus remains on accelerating commercial gas production at the adjacent Red Lake area in the short term as we develop the BNG resource in parallel with MMC which will have significant value in use for their business.

Summary of Jade Gas (ASX: $JGH) announcement

Jade Gas Holdings Limited (ASX: $JGH) has completed a successful drilling campaign at the Baruun Naran coal field, with significant gas-bearing coal intersections. The Company is now focusing on accelerating commercial activities at the Red Lake field for gas production wells to commence next month. The prospecting activities at BNG have provided visibility over two significant energy projects in Mongolia's South Gobi region, and the Company is working with joint-venture partner Khangad Exploration LLC to develop a commercial pathway for gas. The partnership with MMC aims to use gas produced from the BNG and TTCBM projects to supply MMC's power requirements and fuel for its extensive truck fleet. Jade and MMC intend to make an application for a Production Sharing Agreement over the BNG permit area, providing long term security of tenure and a platform to progress with advanced appraisal and pre-development activities. Jade's strategy is to develop all of its projects to provide an economically viable and reliable supply option to the power and transport sectors in Mongolia, supporting the country's energy transition and future energy demand growth.