Jade Gas spuds two CBM wells in Mongolia

Sydney-listed coalbed methane (CBM) producer Jade Gas on February 1 announced that the second and third wells in its six well drilling programme in Mongolia have spudded.

Red Lake-3 and Red Lake-4 are part of the company’s flagship TT CBM project in the Tavantolgoi basin in Mongolia. The first of the six wells, Red Lake 1, was spudded in November.

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Jade is targeting CBM across the central core area of the permit, which has an independently assessed prospective resource of 1 trillion ft³.

Red Lake-3 is currently drilling ahead at a depth of 457 m. It is anticipated that it will take four weeks to drill. Red Lake-4 will be cored to a depth of around 1,000 m, Jade said.