Jade Gas Holdings

CHRIS JAMIESON

CEO & MANAGING DIRECTOR

(ASX:JGH)

◾ Company Name: Jade Gas Holdings ◾ Company ASX code: JGH ◾ Key areas: Gas ◾ Key Personnel: Chris Jamieson, CEO & Managing Director | Mark Pitkin, GM Technical | Joe Burke, Executive Director ◾ Locations: Mongolia ◾ Market Cap as of 15/10/22: $66.87M ◾ 52 Week share price as of 15/10/22: $0.043 - $0.092 ◾ Company Website: www.jadegas.com.au

COMPANY PROFILE

Jade Gas is focused on delivering gamechanging gas supply for Mongolia while supporting the nation’s transition to a cleaner, domestically sourced energy mix.

Mongolia has transformed into a vibrant democracy, and since 1991 has tripled its per capita GDP. While it seeks continued growth, its government is also committed to meeting climate targets and improving the population’s wellbeing.

Aligning with Mongolia’s goals is JGH’s focus on coal-bed methane (CBM) gas projects in the country. The priority is developing the large-scale TTCBM Project within the Tavantolgoi XXXIII unconventional gas basin in the South Gobi region.

A sign of the project’s strategic importance, Jade is operating its flagship through subsidiary Methane Gas Resource in a JV with Mongolian government representative company Erdenes Methane.

Part of a defined work program, Jade is nearing the end of a six-well drilling campaign focused on the Red Lake area of TTCBM. To date, four wells have reached total depth with extensive gasbearing coals extracted.

In a significant milestone for TTCBM as it moves towards pilot production in 2023, Jade announced in August the booking of a gross unrisked 2C contingent resource of 246 billion standard cubic feet (Bcf) of gas.

The permit has a significant gross prospective resource of 1 trillion cubic feet (Tcf) of gas, with Permian coals similar in age to those of Australia’s prolific Bowen Basin.

“Our maiden contingent resources booking at our flagship TTCBM project is the largest in Mongolia and, critically, only covers a small portion of the prospective area within our permit,” Jade CEO & managing director Chris Jamieson said.

“The initial gross 2C contingent resources of 246 Bcf is a solid foundation demonstrating the significant scale and potential ahead of us.”

Resources north of 100 Bcf are considered to have commercialisation potential.

Jamieson believes there is a readymade downstream market for future gas production at TTCBM, having had promising discussions around supply and with the project located in the heart of an energy hungry, resource-rich area of the South Gobi.

In September, Jade extended TTCBM 25km to the east of Red Lake by successfully drilling the Vista-1 exploration well.

“With the recent signing of the prospecting agreement over the Baruun Naran permit, which is adjacent to TTCBM and is an extension of the Tavantolgoi coal basin, we’re confident we will further extend the TTCBM play to the west as well,” Jamieson said.

Jade has commenced drilling at the 66%-held Baruun Naran with results expected soon. A discovery would result in an east-west plane of gassy coals over an impressive 60-70km strike.

Jade has two more highly prospective 100%-owned CBM permits – Shivee Gobi and Eastern Gobi. Its permits cover 19,000km2 within existing coal basins and active coal mines.

KEY INVESTMENT HIGHLIGHTS

■ Large 19,000km2 Mongolian groundholding prospective for gas, with an initial gross 2C contingent resources of 246 Bcf of gas. ■ Strategic partnership with the Mongolian government to deliver a new cleaner domestic energy source. ■ TTCBM Project plays into the decarbonisation mega-trend, with large-scale gas demand in-country and from nearby downstream customers.