Researchers Say Life May Have Existed on the Moon A new study cites two time periods during the moon's distant past when its conditions were <br />potentially habitable. The new research relied on data from space missions and analysis of rock and soil samples from the moon. Shortly after it was formed 4 billion years ago, the moon was releasing water vapor and other volatile gases in mass quantities. Around 3.5 billion years ago, volcanic activity on the moon also reached a peak. On both occasions, these gases would have created liquid water pools on the moon's surface as well as a dense atmosphere. Right now, the moon doesn't have an atmosphere but a very thin layer of gases, including sodium and potassium.