Jade Gas Holdings (ASX:JGH) progressed its gas production drilling program activities at the Red Lake gas field in Mongolia, according to a Friday Australian bourse filing.
It drilled a second lateral coal seam well to a total depth of 1,507 meters of measured depth, with a lateral section of around 902 meters. 802 meters of net coal was intersected in a target seam.
Both wells are now being equipped for production and are expected to be online and producing within the next three to four weeks, per the filing.
Its shares jumped above 21% in recent trading on Friday.
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