Jade Gas Commences Trading on the ASX to Progress its Mongolian Gas Project

Source: www.gulfoilandgas.com 10/4/2021, Location: Asia

HIGHLIGHTS
- Jade Gas Holdings commences trading on the ASX following a successful $7.5 million capital raising

- Jade aims to support Mongolia’s clean energy transition by improving energy independence, decarbonize the economy with a cleaner fuel source, and ultimately make a positive impact on the environmental, health and wellbeing of the people and country of Mongolia.

- The Company is focused on advancing its Coal Bed Methane gas project over the Production Sharing Agreement area of Tavantolgoi XXXIII unconventional oil basin, located in the South Gobi region of Mongolia

- Field work expected to commence shortly

Jade Gas Holdings Limited (JGH) (Jade) is pleased to advise it will commence trading on the Australian Securities Exchange (ASX) at market open today, after successfully raising $7.5 million at $0.03 per share.

Jade is focused on advancing its key Project in the South Gobi Basin in Mongolia, the Coal Bed Methane gas project over the Production Sharing Agreement (PSA) area of Tavantolgoi XXXIII unconventional oil basin, (TT CBM Project). Jade will operate and manage the Project through its subsidiary Methane Gas Resource LLC (MGR), a joint venture operating company formed to explore, develop and produce gas from the TT CBM Project. The Project is fully permitted with field work expected to commence shortly.

Jade Gas Executive Director, Joseph Burke, said:
“Firstly, I would like to thank all stakeholders in what has been a strongly supported capital raising.

During a recent speech by the President of Mongolia at the United Nations General Assembly addressing global climate change issues, his excellency announced the initiative of planting 1 billion trees in the Country in the support of sustaining a long-term environmental ecological balance. This initiative received welcoming support not only at home in Mongolia but also from other nations in Asia including related organisations in Japan and Korea.

Jade is also aligned with Mongolia’s and global trends toward decarbonization of the planet. The Company, along with Erdenes Methane LLC, our partner and representative of the Mongolian Government, see enormous potential for our TT CBM Project with respect to Mongolia’s clean energy transition, ultimately contributing to reducing air pollution in the capital city of Ulaanbaatar.

I look forward to the next phase in the Company’s development as we hit the ground running to execute on field work activities shortly.”


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