Announcement • Jun 17
Jade Gas Holdings Limited has completed a Follow-on Equity Offering in the amount of AUD 12 million. Jade Gas Holdings Limited has completed a Follow-on Equity Offering in the amount of AUD 12 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 150,000,000
Price\Range: AUD 0.08
Discount Per Security: AUD 0.0048
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Announcement • Apr 24
Jade Gas Holdings Limited, Annual General Meeting, May 29, 2026 Jade Gas Holdings Limited, Annual General Meeting, May 29, 2026. Location: level 1, 66 rundle st, kent town sa 5067. Australia Announcement • Apr 02
Jade Gas Holdings Limited has completed a Follow-on Equity Offering in the amount of AUD 1.8 million. Jade Gas Holdings Limited has completed a Follow-on Equity Offering in the amount of AUD 1.8 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 60,000,000
Price\Range: AUD 0.03
Discount Per Security: AUD 0.00005
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing New Risk • Mar 28
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 11% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Share price has been volatile over the past 3 months (15% average weekly change). Market cap is less than US$100m (AU$55.2m market cap, or US$37.9m). Board Change • Dec 31
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 4 non-independent directors. Non-Executive Independent Director Daniel Eddington was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • Nov 05
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 16% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 11% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (15% average weekly change). Shareholders have been diluted in the past year (16% increase in shares outstanding). Market cap is less than US$100m (AU$47.7m market cap, or US$30.9m). Announcement • Oct 23
Jade Gas Holdings Limited has completed a Follow-on Equity Offering in the amount of AUD 5.005 million. Jade Gas Holdings Limited has completed a Follow-on Equity Offering in the amount of AUD 5.005 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 143,000,000
Price\Range: AUD 0.035
Discount Per Security: AUD 0.006
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Announcement • Oct 16
Jade Gas Holdings Limited has filed a Follow-on Equity Offering in the amount of AUD 2.1 million. Jade Gas Holdings Limited has filed a Follow-on Equity Offering in the amount of AUD 2.1 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 60,000,000
Price\Range: AUD 0.035 Announcement • Apr 11
Jade Gas Holdings Limited Announces Significant Progress with Recent Gas Production Drilling Program Activities At the Red Lake Gas Field in the South Gobi Region of Mongolia Jade Gas Holdings Limited announced further, significant progress with recent gas production drilling program activities at the Red Lake gas field in the South Gobi region of Mongolia. Gas Production Program. Jade has successfully drilled the second lateral coal seam well in Mongolia, whereby, as with the first well1, significant gas readings were recorded on the gas detector and significant visible gas was observed in mud returns from the targeted coal seam IIIb. The well was drilled to a total depth of 1,507m MD (measured depth) with a lateral section of approximately 902m. Monitoring of mud gas was undertaken during drilling confirming that the target coal seam had better than expected gas shows based on the desorbed gas content in offset core wells Red Lake 7, 15 and 16. As with the first production well, a 5 1/2 inch pre-drilled liner staged cementing tool and 51/2 inch casing string are being set in the well, with the stage cementing packer located just above the entry point to seam IIIb in the heel of the lateral. Activities will now focus on completion of these first two wells and production testing. After the pumps and production equipment are installed, the water and gas flow will be analysed and used to continue to refine the planned development operation of the TTCBM field. Commercialsation Opportunities. Following the success of the initial two gas production wells, Jade expects to complete an agreement with a mid stream manufacturer of fully integrated Compressed Natural Gas (CNG) equipment which will enable the Company to commercialise the gas from these initial wells. These CNG facilities are easily transportable, and are able to take lightly processed gas and convert into a saleable and marketable form, enabling the Company to potentitally deliever to various markets in the immediate vicinity. These markets are in need of a cleaner and more secure fuel source, including the displacement of diesel which currently powers the large coal haulage truck fleet in the South Gobi. Announcement • Apr 04
Jade Gas Holdings Limited, Annual General Meeting, May 30, 2025 Jade Gas Holdings Limited, Annual General Meeting, May 30, 2025. Announcement • Apr 02
Jade Gas Holdings Limited Commences Second Production Well Jade Gas Holdings Limited announced drilling has commenced on the second Red Lake lateral gas production well. This second well immediately follows the successful completion of the first horizontal well1 at the Red Lake gas field, located in the South Gobi region of Mongolia. Gas Production Program. Located approximately 100m south from the first production well (RL-Hz-002), and drilled from the same pad, RL-Hz-001 is to be drilled to a target measured depth (mMD) of approximately 1,600mMD on similar trajectory to RL-Hz-002, which intersected almost 700m of gas bearing coal in seam IIIb, with 98.6% net coal. With the top section of the hole previously completed, the drilling of the horizontal section through to TD is expected to take approximately 12 days. After installation of the liner and production casing both wells will be completed with downhole pumps and commence dewatering in late April 2025. New Risk • Mar 30
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$10m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$10m free cash flow). Share price has been highly volatile over the past 3 months (16% average weekly change). Earnings have declined by 12% per year over the past 5 years. Revenue is less than US$1m (AU$60k revenue, or US$38k). Minor Risk Market cap is less than US$100m (AU$54.0m market cap, or US$33.9m). Announcement • Mar 25
Jade Gas Holdings Limited Announces Significant Progress with Gas Production Program Activities At the Red Lake Gas Field in the South Gobi Region of Mongolia Jade Gas Holdings Limited announced significant progress with gas production program activities at the Red Lake gas field in the South Gobi region of Mongolia. Gas Production Program. Jade has successfully drilled the first lateral coal seam well in Mongolia with significant gas recorded on the gas detector and significant visible gas observed in mud returns from the targeted coal seam IIIb. In addition, a high percentage of CH4 (methane gas) composition was recorded which is also an excellent indicator for strong gas production from the seam. The well was drilled to a total depth of 1,567mMD (measured depth) with a lateral section of approximately 711m within coal seam IIIb at an average depth of 469m TVD. During drilling of the coal seam 698.5m of net coal reservoir was intersected resulting in 98.6% net coal pay. Monitoring of mud gas was undertaken during drilling confirming that the target coal seam had good gas shows which was expected based in the desorbed gas content in offset core wells Red Lake 7, 15 and 16. A 5 1/2 "pre -drilled liner, staged cementing tool and 5 1/2" casing string are being set in the well, with the stage cementing packer located just above the entry point to seam IIIb in the heel of the lateral. The drilling rig will then skid to the second surface hole, already drilled on the lease and commence drilling the second lateral imminently. This will run parallel to the first well and approximately 100m to the south. Jade anticipate that drilling of the second well will be completed in mid-late April and pumping and production equipment will be installed in both wells at that time. New Risk • Mar 22
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 13% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Share price has been volatile over the past 3 months (14% average weekly change). Market cap is less than US$100m (AU$47.2m market cap, or US$29.6m). New Risk • Feb 24
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 13% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Market cap is less than US$100m (AU$57.4m market cap, or US$36.5m). New Risk • Dec 27
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 7.0% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 13% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (7.0% increase in shares outstanding). Market cap is less than US$100m (AU$57.4m market cap, or US$35.7m). Announcement • Dec 04
Jade Gas Holdings Limited has completed a Follow-on Equity Offering in the amount of AUD 3.63 million. Jade Gas Holdings Limited has completed a Follow-on Equity Offering in the amount of AUD 3.63 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 110,000,000
Price\Range: AUD 0.033
Transaction Features: Subsequent Direct Listing New Risk • Sep 24
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$10m free cash flow). Share price has been highly volatile over the past 3 months (17% average weekly change). Earnings have declined by 13% per year over the past 5 years. Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (AU$63.1m market cap, or US$43.3m). New Risk • Aug 14
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$13m free cash flow). Share price has been highly volatile over the past 3 months (17% average weekly change). Earnings have declined by 19% per year over the past 5 years. Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (AU$74.1m market cap, or US$49.2m). New Risk • Jun 25
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$13m free cash flow). Earnings have declined by 19% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Market cap is less than US$100m (AU$66.2m market cap, or US$44.1m). Announcement • Apr 10
Jade Gas Holdings Limited, Annual General Meeting, May 31, 2024 Jade Gas Holdings Limited, Annual General Meeting, May 31, 2024. Agenda: To consider the election of Directors. New Risk • Oct 23
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 16% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$13m free cash flow). Share price has been highly volatile over the past 3 months (16% average weekly change). Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (18% increase in shares outstanding). Market cap is less than US$100m (AU$63.1m market cap, or US$39.8m). Announcement • Oct 10
Jade Gas Holdings Limited Announces Management Changes Jade Gas Holdings confirmed that Mrs. Uyanga Munkhkhuyag has been appointed as Non-Executive Director (NED), effective 10 October 2023 following the announcement made relating to board enhancements on 28 June 2023.Mrs Munkhkhuyag has over 10 years' experience in project development and management, specializing in infrastructure projects in the energy, logistics, gas and oil sector in Mongolia. She previously held positions of project coordinator, consultant and project director for several projects representing the project owners with overall management responsibility from development to commission. Mrs. Munkhkhuyag is currently project director at Jade's strategic partner, UB Metan LLC, undertaking roles to develop downstream facilities in the natural gas sector of Mongolia, including the construction of fuelling stations and a storage terminal, and establishing a new market to expand the end-users of natural gas. Jade also advises that Justin Green has resigned from the role of Company Secretary with the gratitude of the board for his contribution to the Company. Aaron Bertolatti has been appointed as Company Secretary effective immediately. Aaron is a qualified chartered accountant and company secretary with over 16 years' experience in the mining industry and accounting profession. Announcement • Dec 13
Jade Gas Holdings Limited Completes Second Production Test Well Jade Gas Holdings advised that the second of two Extended Production Test (EPT) wells, Red Lake-5, has completed and further exploration drilling success realised at Baruun Naran (BNG-2) to the west of the TTCBM permit. Jade is targeting natural gas from three coal seams of interest IV, III and 0 across the prospective areas within its TTCBM Project permit, with unrisked Gross Contingent Resources recently booked for the Red Lake area within the permit of 1C: 118 Bcf, 2C: 246 Bcf and 3C: 305 Bcf of gas. Drilling Campaign: Red Lake-5 was drilled to a total depth of 687 metres, with 36 metres of coal intersected in the target gas seams. Red Lake-5 is the deeper of the two extended production testing wells, with the shallower Red Lake- 7 well completed in November. Red Lake-5 will test the 25 metre thick seam 0 and Red Lake-7 will test the 17 metre thick seam III. The BNG-2 well was successfully drilled to a measured depth of 592 metres, with 26 metres of gassy coal core recovered, between 471 to 530 metres. These coals are currently undergoing desorption testing. The well demonstrates additional gas bearing seams to those evaluated in BNG-1. A DST was successfully conducted over the intervals of interest and, together with the results from BNG-1, will be used for the conversion of 2U Prospective Resources to 2C Contingent Resources in the BNG permit. The BNG-2 well is located 4 kilometres from BNG-1, which continues to expand the overall gas strike from west to east. Jade safely drilled 14 wells over the last twelve months, some of which contributed to maiden Contingent Resources booking, as well as delivering gas strike of nearly 45 kilometres across the TTCBM and BNG permits. The company first EPT of Red Lake-5 and Red Lake-7 will take place early in 2023, the data from which will be used to design Pilot Production test wells that are expected to be drilled around the middle of next year. This is an exciting time for the Company as it moves towards proving commercial gas flows from the sizeable Red Lake Field. Announcement • Nov 25
Jade Gas Holdings Limited Establishes First Production Test Well Jade Gas Holdings Limited advised that Red Lake-7 has completed drilling and the wellhead is now in place ready for the commencement of Extended Production Testing in January 2023. Red Lake-7 was drilled and completed over a nineteen-day period to a total depth of 501 metres, with gassy coal seams recovered and undergoing desorption testing. Red Lake-7 is shallower than the Red Lake-5 well, which is expected to reach TD at just over 700 metres. The Red Lake-7 well head was successfully installed with the well now complete and ready for Extended Production Testing. Announcement • Nov 16
Jade Gas Holdings Field Potential Expands Further East Jade Gas Holdings announced further exploration drilling success at Brownhill-1 in the eastern zone of the TTCBM permit. Jade is targeting natural gas from three coal seams of interest - IV, III and 0 - across the prospective areas within its TTCBM Project permit, with unrisked Gross Contingent Resources recently booked for the Red Lake area within the permit of 1C: 118 Bcf, 2C: 246 Bcf and 3C: 305 Bcf1 of gas. Brownhill-1 was drilled to a depth of 524 metres, with 41 metres of gassy coal recovered, and builds on the success already delivered in the eastern zone with 38 metres of gassy coal intersected at nearby Vista-12. These coals are now undergoing desorption testing. Brownhill-1 now extends the gas strike along the TTCBM and BNG permits to in excess of 40 kilometres. The BNG-1 well was successfully drilled to a measured depth of 463 metres, with 35 metres of gassy coal core undergoing desorption tests. Four drill stem tests were successfully completed with these results also being analysed. The rig moved to the BNG-2 location, with the well spudded on 12 November and drilling ahead at 191 metres. The well is expected to reach measured depth at around 560 metres. Red Lake-7, the second cased well for extended production testing and located closer to the Tavan Tolgoi mine is drilling ahead at 445 metres depth. Red Lake-5 is expanding the wellbore to 6" and is currently at 506 metres. Both wells are expected to be completed in December ready for testing in early 2023. Board Change • Nov 16
No independent directors There are 5 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). Non-Executive Director Daniel Eddington is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors. Announcement • Nov 09
Jade Gas Holdings Steppes Up its Drilling Activity in South Gobi Region of Mongolia Jade Gas Holdings to advise that it has stepped up its drilling activity in the South Gobi region of Mongolia, with four rigs drilling production and exploration wells at the TTCBM Project and the recently acquired Baruun Naran permit. Jade is targeting natural gas from three coal seams of interest - IV, III and 0 - across the prospective areas within its TTCBM Project permit, with Gross Contingent Resources recently booked for the Red Lake area within the permit of 1C: 118 Bcf, 2C: 246 Bcf and 3C: 305 Bcf1 of gas. The first of the two Baruun Naran wells, BNG-1, spudded on 24 October and reached a measured depth of 463 metres. The well has been logged and is currently undergoing drill stem testing. The BNG wells are targeting shallow coals at depths of between 150 and 350 metres, with BNG-1 recovering 35 metres of gassy coal, which is currently being assessed. The BNG permit has an active coal mine within it, along with substantial data gathered from historic coal mine drilling. From this data the company is locating wells in areas that the company is confident will extend the TTCBM play, and with the intersection of 35 metres of gassy coal, the gas fairway extends another 20 kilometres to the west, giving the company's CBM play a strike distance of approximately 35 kilometres. The exploration drilling in the east of the permit continues with the wild-cat exploration well Steppe-1, the third well in the TTCBM exploration program, which is currently at 797 metres. Steppe-1 is expected to reach total depth (TD) at around 900 metres. Brownhill-1 was drilled to a depth of 523 metres, with the coal core currently being analysed and initial results from the coal core expected within the week. The TTCBM Project is ideally located with significant mines and other mineral deposits within 100 kilometres. It is estimated that over 500 MW of power will be required to meet the electricity needs for expected production from these operations over the coming years. The TTCBM Project and BNG permit are well situated to take advantage of this boom in power demand as these producers, all of whom are increasingly aware of the global financial market's viewpoint on carbon intensive power usage, eagerly search for a cleaner source of energy to drive operations. Announcement • Nov 03
Jade Gas Holdings Limited has completed a Follow-on Equity Offering in the amount of AUD 3 million. Jade Gas Holdings Limited has completed a Follow-on Equity Offering in the amount of AUD 3 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 60,000,000
Price\Range: AUD 0.05
Discount Per Security: AUD 0.003
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Announcement • Oct 10
Jade Gas Holdings Limited Announces Jade Drilling Results Deliver High Confidence Ahead of Pilot Production Jade Gas Holdings announced that, following the announcement of a collaboration initiative with the Tavan Tolgoi coal mine, the drilling of the ETT-1 and ETT-2 wells has completed with gassy coals recovered and being analysed. Jade is targeting natural gas from three coal seams of interest - IV, III and 0 - across the prospective areas within its TTCBM Project permit, with Gross Contingent Resources recently booked for the Red Lake area within the permit of 1C: 118 Bcf, 2C: 246 Bcf and 3C: 305 Bcf1 of gas. Both ETT-1 and ETT-2 were cored wells that reached total depth of 374 metres and 414 metres respectively. ETT-1 recovered 30 metres of coal core through the seams of interest (0, III, IV) between 220 and 361 metres depth. ETT-2 recovered 36 metres of coal core through the seams of interest between 216 and 387 metres depth. Well bore logging and drill stem testing has been completed in both wells, with coal permeability of up to 1.8 millidarcy identified. Desorption data collection is in-progress at the Company's on-site mobile laboratory, with an evaluation of gas desorption, gas composition, and gas saturation for both wells currently underway. These results will assist with identifying drilling sites for the 2023 Pilot Production wells. Announcement • Sep 01
Jade Gas Holdings Limited Announces Drilling Extends TTCBM Project Gas Play to the East Jade Gas Holdings announce that total depth has been reached at its first exploration well, Vista-1, the first of three exploration wells being drilled at the Company's flagship TTCBM Project in Mongolia. Jade is targeting natural gas from three coal seams of interest - IV, III and 0 - across the prospective areas within its TTCBM Project permit, with Gross Contingent Resources recently booked for the Red Lake area within the permit of 1C: 118 Bcf, 2C: 246 Bcf and 3C: 305 Bcf1 of gas. The Company reached TD at Vista-1 of 810.5 metres. 38.25 metres of gassy coal was recovered from seams between 496 metres and 712 metres. Well bore logging has been completed. Desorption data collection is in-progress at the Company's on-site mobile lab operation on core samples obtained during drilling. A complete evaluation of Vista-1 covering gas desorption, composition, permeability and gas saturation is now underway. With the completion of drilling at Vista-1, the Company will now look to the drilling of two further exploration wells in the eastern zone at Brownhill-1 and Steppe-1 (see figure 1). The rig has mobilised to the Brownhill- 1 exploration well site and is expected to spud over the coming days. The re-drill of Red Lake-5 is ongoing with the well currently at 263 metres. The well will be comprehensively evaluated through the target coal seams, which are expected to be intersected at depths between 620 and 700 metres, with TD expected at around 715 metres. Red Lake-5 will be cased with 4.5" casing down to a depth of 680 metres, just above seam 0, which will be cored and drill stem tested, with the section from 680 to 715 metres to be left-open-hole for subsequent completion and extended production testing. Red Lake-6 was completed and cased to 444 metres and has been marked as a future observation well, which will include the monitoring of seam pressures during extended and pilot production testing. Red Lake-7 is expected to be drilled over the coming months and will be the second production well in the extended and pilot production testing phase at Red Lake. Jade continues to focus its strategy on expanding its footprint by securing permits and developing areas with high gas bearing potential. The Company has delivered outstanding results in a short period this year, with further activities designed to leverage the early work in the Red Lake area at the TTCBM Project. The Baruun Naran coalfield is one such expansion, located 20 kilometres to the west of the Red Lake area, and is a continuation of the Tavan Tolgoi coal basin, containing an existing 410Mt JORC compliant coal resource (Refer Mongolia Mining Corporation, HKSE:0975, 2021 Annual Results Presentation). Jade secured this highly prospective CBM Prospecting Agreement for Baruun Naran recently and is planning to test and drill this prior to the end of 2022. The extended production test will include the Red Lake-5 and Red Lake-7 wells. This testing will provide critical information on well performance and deliverability that will ultimately support Jade's assessment of commercial development options. The Company is currently working on the planning and design of the pilot program with its well engineering and project management consultants, In-Gauge Energy. A further update will be provided on timing for the extended production test at the conclusion of this stage. Announcement • Aug 23
Jade Gas Delivers Substantial Maiden Contingent Resources Jade Gas Holdings advised that it has delivered substantial maiden Contingent Resources at its TTCBM Project in the South Gobi region of Mongolia. Jade has delivered a Gross Contingent Resources estimate for the Red Lake area of 1C of 118 Bcf, 2C of 246 Bcf and 3C of 305 Bcf - the Contingent Resources for coal bed methane in Mongolia to date. The Contingent Resources estimate was compiled by the Jade technical team in Australia and Mongolia using standard industry practices. The estimate is deterministic based on mapping of net coal thickness, combined with desorbed gas content, gas composition, methane isotherm studies, ash and moisture content from testing undertaken on recovered core and pressure and permeability information from drill stem testing. RISC Advisory has audited the estimated volumes and considers them reasonable in aggregate. Excellent results have been delivered from the drilling to date at the TTCBM Project, with gas content of 12- 18m3/tone (dry ash free or DAF), an amount greater than some commercial fields in Queensland, high methane readings in the coal seams of interest (98% methane for seams III and 0 and 92.5% for seam IV) as well as an average of 60 metres of gas bearing coal from each well (Red Lake-4 having 124 metres). These results laid the foundation for the strong conversion of Prospective Resources to Contingent Resources in the Red Lake area. The area of the initial 2C Contingent Resource booking in Red Lake amounts to approximately 15% of the size of the prospective area1 of the TTCBM Project permit, however, the Contingent Resources booking amounts to approximately 30% of the total Prospective Resources. This equates to a two times conversion rate of Prospective Resources to Contingent Resources when compared with the area from which the booking has been made. Jade plans to flow test the coal seams of interest (0, III, IV) within six months, with a more prolonged pilot production test planned for 2023 (pending MRPAM approval), both aimed at gaining further information on gas volumes, flow rates and coal permeability. The key contingencies are demonstrating producibility from a pilot drilling program to be drilled in 2023, and commerciality. A final investment decision on development, committing to a gas sales agreement and any other necessary commercial arrangements plus obtaining the usual regulatory approvals for production. The 2C Contingent Resource area is approximately 30km2 and is estimated to require between 150 to 230 wells to develop, depending on the results of the pilot drilling program. Announcement • Aug 08
Jade Gas Holdings Limited Expands Drilling Program At TTCBM Jade Gas Holdings announced the expansion of its drilling program, targeting natural gas from three coal seams of interest (IV, III and 0) across prospective areas of the TTCBM Project permit, which has an independently assessed Gross Prospective Resource of 1.0 Tcf1 of gas. The CY2022 drilling program has been expanded at Red Lake to include the drilling of Red Lake-7, which will be the second well used for extended and pilot production testing work. This program has been expanded following a review of the excellent early results demonstrated in the Red Lake area including high gas content and multiple intersections of thick coals in targeted seams of interest. These results lay a strong foundation for extended production testing at Red Lake early next year. Three exploration targets have been identified along with Red Lake-7, which has been added to the current Red Lake program and will be drilled as a production well after Red Lake-5. The Vista-1, Brownhill-1, and Steppe-1 exploration wells will be drilled in the eastern portion of the permit. Vista-1, the first of three exploration wells to be drilled, spudded on 1 August and is currently drilling ahead at 303.5 metres. The well is expected to take approximately four weeks to drill and will be extensively cored through the seams of interest to an expected depth of 570 metres. Two further exploration wells, Brownhill-1 and Steppe-1, will follow Vista-1 and will complete the exploration component of the CY2022 drilling program. Red Lake Drilling Program Progresses:- Activities at Red Lake-5, the final well of the 2021/22 drilling program, have recommenced. The well will be comprehensively evaluated through the target coal seams, which are expected to be intersected at depths between 620 and 700 metres, with total depth (TD) expected at around 715 metres. The re-drill is anticipated to take about six weeks. Red Lake-5 will be cased with 4.5" casing down to a depth of 680 metres, just above seam 0, which will be cored and drill stem tested, with the section from 680 to 715 metres to be left-open-hole for subsequent completion and extended production testing. Red Lake-6 reached TD at 543 metres and is marked for future use as an observation well. Casing was successfully cemented to 444 metres to isolate a fault zone in the upper coal units before the well was cored to TD. Due to the fault intersected in the well, the seam correlation in the area is uncertain and at this stage it is not clear whether target coals were intersected, which is the likely cause of negligible gas content in the well. Announcement • May 30
Jade Gas Holdings Limited Commences Contingent Resource Assessment Jade Gas Holdings Limited advised that it has engaged RISC Advisory to audit Jade's Contingent Resource Booking for the Red Lake area, which is expected to be completed early in Third Quarter 2022.The Contingent Resource assessment will provide an estimation of the potentially recoverable gas from the Red Lake area based on the information generated from the TTCBM Project drilling to date. The sixth well in the TTCBM drilling program, Red Lake-6, is expected to spud within the week (pending approval from the regulator MRPAM). Red Lake-5 is currently suspended, with the drilling contractor advising Jade that a section of the drill string is stuck down hole and currently unable to be retrieved. Significant efforts have been made to recover the drill string, however, the rig on site does not have adequate horsepower to extract it. While Red Lake-6 is drilling, an alternative rig and equipment will be sourced to extract the drill string from Red Lake-5. Should an appropriate rig and equipment not be available, a new Red Lake-5 well will be drilled at the expense of the drilling contractor. Strong results have been delivered to date from the TTCBM Project drilling program, with gas content observed in Red Lake-1 of 12-17m3/tonne (dry ash free or DAF), an amount greater than some commercial fields in Queensland, high methane readings in coal seams of interest (98% methane for seams III and 0 and 92.5% for seam IV) as well as an average of 60 metres of gas bearing coal from each well (Red Lake-4having 124 metres of gas bearing coal). All of these results lay a robust foundation for the Contingent Resource assessment of the Red Lake area as well as the extended production phase in the second half of 2022. The Red Lake-5 and Red Lake-6 wells will be used in the extended production test. There is no change in the timing for this test which will provide key information on well performance and deliverability to ultimately support assessment of commercial development options. Announcement • Apr 28
Jade Gas Holdings Limited Announces New Material Prospective Resources for its Mongolian Shivee and Eastern Gobi CBM Permits Jade Gas Holdings Limited announced RISC Advisory (RISC) has independently assessed a Gross Unrisked Prospective Resource of 1U (Low) 1.0 Tcf, 2U (Best) 5.4 Tcf and 3U (High) 24.4 Tcf for the Shivee Gobi and Eastern Gobi permits. Both permits are held 100% by Jade, which it believes to be highly prospective for coal bed methane (CBM) over the sizeable permit areas of greater than 18,000 km2. Jade secured 100% of the Shivee Gobi permit, which covers an area of 8,317 km2 and is located approximately 300 kilometres south of Ulaanbaatar. Within the permit is the Shivee Ovoo coal deposit, which is 35 kilometres in length and covers an area of 29,500 hectares, trending from north-east to south- west. The coal reserves at Shivee Ovoo have been estimated at approximately 2.7 billion tonnes. Jade has negotiated minimal expenditure commitments for the Shivee Gobi permit over the first three years under the prospecting agreement of $110,000. Jade has 100% of the Eastern Gobi permit, which covers an area of 9,691 km2 and is located approximately 450 kilometres south of Ulaanbaatar. The Eastern Gobi permit is also home to a significant coal deposit that is highly prospective for CBM. Jade has negotiated minimal expenditure commitments for the Eastern Gobi permit over the first three years under the prospecting agreement of $160,000. Board Change • Apr 28
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Non-Executive Director Peter Lansom was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Apr 20
Jade Gas Holdings Limited Appoints Chris Jamieson as Managing Director Jade Gas Holdings Limited announced the appointment of Mr. Chris Jamieson as Managing Director in addition to his existing role as Chief Executive Officer. Mr. Jamieson has over 25 years' experience in the resources and corporate finance industries having previously held senior roles with ASX Listed Beach Energy Ltd, Normandy Mining Ltd. and Ernst & Young. Announcement • Apr 16
Jade Gas Holdings Limited, Annual General Meeting, May 31, 2022 Jade Gas Holdings Limited, Annual General Meeting, May 31, 2022, at 11:00 AUS Central Standard Time. Announcement • Feb 25
Jade Gas Holdings Provides an Update on Both the Red Lake-4 and Red Lake-2 Wells Jade Gas Holdings provided an update on both the Red Lake-4 and Red Lake-2 wells. Two rigs are drilling the third and fourth wells in the six well drilling program at Red Lake, those being Red Lake-4 and Red Lake-2. These wells are a follow up to the eight well drilling program back in 2019 at the Company's CBM gas project over the Production Sharing Agreement area of the Tavantolgoi XXXIII unconventional oil basin in Mongolia (TTCBM Project). Jade is targeting natural gas from three coal seams of interest (IV, III and 0) across the central core area of the permit, which has an independently assessed Prospective Resource of 1.0 Tcf of gas. Red Lake-4 is the third well in Jade's six-well program and is located approximately 1.5 kilometres south-east of Red Lake-1. The well spudded on 31 January 2022 and is currently at a depth of 828 metres, with expected total depth (TD) expected at around 1,000 metres. Coring is currently on hold as the drilling team prepares the DST over the sizeable coal seam III, which covers 40 metres of gas bearing coal. The DST will be run as a conventional off bottom test with the top packer at 778 metres and testing the interval down to the current well depth of 828 metres. Following the DST, an injection fall off test (IFOT) will be conducted over the same interval as a comparison of the two test methods as both the IFOT and DST may be required to provide test coverage across the parallel drilling activities. Subsequent to this, drilling will continue to TD and is expected to intercept seam 0, the third of the previously identified gas bearing target seams. Red Lake-2 is the fourth well in Jade's six-well program and is located approximately 2.5 kilometres west of Red Lake-1. The well spudded on 6 February 2022 and is drilling ahead at 670 metres, having intersected 90 metres of coal to date. Seam IV intersected 5 metres of gas bearing coal. The well is expected to reach TD at around 800 metres. Announcement • Dec 20
Jade Gas Holdings provides an update on the six well drilling program at its flagship TT Coal Bed Methane Gas Project in the South Gobi Basin in Mongolia Jade Gas Holdings provided an update on the six well drilling program at its flagship TT Coal Bed Methane Gas Project in the South Gobi Basin in Mongolia (TT CBM Project). Red Lake-1 spudded on 28 November 2021 and is drilling ahead at 742 metres, broadly in line with initial time expectations. The company is targeting natural gas from three key coal seams - IV, III and 0 - at depths between 700 to 900 metres. Multiple coal seams have been intersected in Red Lake-1 to date, with the first targeted coal seam of interest, seam IV, intersected over the weekend at 728 metres. Visible gas has been observed coming off the core, which will be further tested for gas desorption measurements along with cores from seam III and seam 0. The complete evaluation program for Red Lake-1 will also include permeability testing to assess the ease with which fluids will flow through the coals, and wireline logging and isotherm analysis to assess gas saturation. While core sampling and data collection will be completed at the wellsite, desorption, coal proximate analysis and permeability assessment will require additional time to complete, with results expected throughout January 2022. Results from isotherm analyses, which requires specialist laboratory testing, are expected to be completed 2-3 months after the conclusion of the desorption tests. It is expected that the Ellehcor rig will be mobilized to the Red Lake-2 wellsite, approximately 1.6 kilometres to the south-east of Red Lake-1, and spud Red Lake-2 within two weeks of Red Lake-1 reaching TD in early January 2022. Announcement • Nov 29
Jade Gas Holdings Limited Commences Six Well Drilling Program Jade Gas Holdings Limited announced that drilling has commenced at the Company's TT CBM Gas Project in the Tavantolgoi XXXIII PSA unconventional oil basin in Mongolia, (TT CBM Project or the Project). The initial well, Red Lake 1, was spudded on 28 November, with the well expected to take 25 days to reach total depth at around 850 metres. In addition to a standard suite of wireline logs, the well will be cored through the three primary target coal seams, with between 25 to 50 coal samples to be recovered, and analysed in the on-site laboratory for gas content. Permeability testing is also planned in each of the coal seams to assist with future well spacing and development options. The Company has engaged the services of highly respected local drilling company Ellehcor LLC, which has extensive experience in drilling in this region, along with coal bed methane experts out of Brisbane, Australia, that have been engaged to safely and efficiently undertake the advanced testing required for this program. In 2019, Jade drilled eight exploration core holes during its prospecting work to evaluate the coal thickness, continuity and undertake a preliminary assessment of the gas content of the deeper Tavan Tolgoi coals in the area. This extensive dataset enabled the Company to design the current work program to target three key seams, taking the typical exploration program and adding an appraisal focus that, in addition to providing robust gas content, composition and saturation data, will provide permeability data in each of the high-graded seams across the area. Initial targets Red Lake 1 and Red Lake 2 wells will be cored, evaluated and then plugged and abandoned. The following four wells in the program will be comprehensively tested and evaluated, with 4 ½" casing inserted to allow for future extended production testing and monitoring of the target coal seams. At the conclusion of the program, Jade will have the permeability, gas content, saturation and compositional information necessary to assess the coal bed methane resource potential in the central area of the Project. This data will be integral to the design of the follow up pilot program where the cased and suspended wells will be used as either production wells, or monitoring wells, to assess the performance of the coal seams during testing. 
