Jade Gas Holdings Limited (AU:JGH) has released an update.
Jade Gas Holdings Ltd has entered a provisional partnership with DWK to fast-track gas production at its Red Lake project by developing 20 new wells, with DWK funding the wells in exchange for a revenue share. This strategic move requires minimal upfront investment from Jade and aims to accelerate the company’s transition into a significant gas producer, while retaining majority project ownership and operatorship. The partnership is contingent on regulatory approval and the success of the initial four production wells, which are set to commence shortly.
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