Jade Gas Holdings concludes its TTCBM appraisal program in Mongolia and plans to lodge its maiden gas reserve booking within one week. This critical milestone unlocks the path toward a Plan for Development of Operations and exploitation license. The Red Lake gas field appraisal report has been submitted, covering 4.2 square kilometres with high-quality gas reserves containing 97.2-97.4 percent methane and less than one percent CO2. The phased development plan targets up to 175 wells in Phase 1, scaling to approximately 800 wells over 30 years. The company already operates two producing CBM wells and has secured an LNG sales agreement with UB Metan. A non-binding letter of intent for US$46 million in midstream project financing supports the development strategy. The appointment of an experienced Managing Director signals the company's transition from explorer to producer status.
