Australia's Jade Gas Holdings jumps on finding methane in Mongolia project

Jade Gas Holdings

15/03/2022 24:39

** Shares of Jade Gas Holdings  JGH.AX  soar as much as
17.2% to A$0.068, hitting their highest since Feb. 23 
    ** Stock to mark its best session since November 2021, if
gains hold
    ** Oil and gas explorer says results for its six well
drilling programme identified methane at its Tavantolgoi XXXIII
unconventional gas basin (TTCBM Project) in Mongolia  
 urn:newsml:reuters.com:*:nFWN2VH19B
    ** Co says it identified 98% and 92% methane in Red Lake-1
coal seam III and Red Lake-1 coal seam IV, respectively
    ** Says drilling programme at TTCBM project is on track to
be completed in mid-May
    ** As of Monday's close, stock down 13.4% this year
    


 (Reporting by Navya Mittal in Bengaluru)
 ((navya.mittal@thomsonreuters.com))