Green Dragon Share Discussion Threads

[saucepan] 06/9/2011 11:05

No answers, it seems. I have not been able to find out more myself.

However: not directly related to my query, but worth looking at nevertheless, for anyone considering investing in Greka or Green Dragon:

[saucepan] 04/9/2011 18:09

Hi Folks

I am taking a look at GDG. Does anyone have a view on the 13 July trading statement (reproduced below for ease of reference)?

I am particularly interested in the text highlighted in bold. What are the negative sentiments/insinuations all about?


Share Price Movement and Trading and Corporate Update

Green Dragon Gas, one of the largest independent companies involved in the production of CBM gas and the distribution and sale of wholesale gas in China, has noted the recent fall in the Company's share price and is pleased to provide the following trading and corporate update:

· The Company's on-going operations and gas production targets are on schedule.

· The Company's six Production Sharing Contracts ("PSC's") are in full force and effect with the required licenses. The operations continue at all six PSC's as planned.

· The Company is well funded with over US$150 million in cash on hand at 30 June 2011.

· The Company continues with its HK listing process as previously announced.

· The Board of Directors has approved a share buy-back program of US$5 million.

· Directors have purchased shares within the last month.

· The issuance of 562,500 new shares from the convertible bond at US$8 per share announced on 15 June 2011 coincides with the share price drop.

· Total shares traded since 15 June 2011 is 670,825 shares for a value of US$6.4 million. This has resulted in a drop of over US$600 million in the Company's market capitalisation.

In view of the continued corporate and operational successes and with the Company's business plan, the Company is unaware of any reasons for the drop in the share price over the last thirty calendar days. The Company is however aware of erroneous rumours and factually incorrect information being dissipated by certain organisations which may materially have misled the market and some of the shareholders. Some of these organisations have been served with legal notices while the others are being evaluated.

Cheers.

[oilbarreldotcom] 01/9/2011 14:52

Green Dragon Gas will be presenting at OilBarrel on September 8 at the Merchant Taylors Hall.

Anyone interested in attending can register here

Best
The OilBarrel Team

[mortie1] 24/8/2011 12:15

Interesting article in the Telegraph today. It's about CBM in China, mainly Fortune Energy, but it is also very relevant for GDG

[rimmy2000] 09/8/2011 13:55

yeah, it could do. check out CFC too.

[mortie1] 09/8/2011 11:55

Thanks rimmy, I worked it out - I was being quoted a GBP figure but wrongly stated as USD.

I thought buying in China might offer some protection from this market carnage, but it looks like it is suffering as well.

[rimmy2000] 09/8/2011 11:09

mortie. current spread should be
bid 9.30; offer 10.10

[mortie1] 02/8/2011 11:30

Very quite board.

Can anybody help me out here. Share price seems to indicate $10.5 to $11.5, but when I ask for a quote ( buying or selling) it's in the $6.5 range.

[fangorn2] 08/4/2011 10:48

News out this morning...



Green Dragon Gas: Scaling up CBM production after a successful year of transition

[okuta] 05/4/2011 17:32

Hi andrbea , any comments please about the two RNS's ? thanks/regards g

[andrbea] 30/3/2011 14:10

up 9%

as they're pumping 50m usd into gdl, I would have thought gdl is a good bet too for 2011.

[aim_trader] 16/2/2011 15:11

Enter the Dragons: China's coal bed methane specialist prepares to do the splits
Investors it seems have been slow to catch on today. But they should be in no doubt, this is a pivotal period for Green Dragon Gas - one which is likely to unlock considerable value for investors. Earlier today the Chinese coal bed methane producer announced a demerger of its Greka Drilling arm. This ought to train the spotlight on the valuation gap spotted by both Goldman Sachs and Evolution Securities in recent weeks.

[chingman] 02/2/2011 17:54

Latest GDG note -

[sandybubbles] 13/10/2010 08:32

I've just been wrong footed - the price of GDG is in US$ not pennies

[cestnous] 09/6/2010 12:30

............so the prats set up a fund for shorters?

[billbyrne] 15/3/2010 07:44

Interesting article, last three paragraphs are relevent.

[billbyrne] 16/2/2010 21:14

It would be pretty hard to find a more upbeat operations update.

Gas production was 131,750 mcf in the fourth quarter of 2009, representing an
increase of 120% over the same period in 2008
o Gross gas production expected to exceed 1 Bcf in 2010

100 wells to be drilled in 2010.

Reserves Report
Total gas in place of 25.5 Tcf, 1P reserves increased to 32.9 Bcf, 2P reserves
increased to 261.3 Bcf and 3P reserves increased to 2,333 Bcf. The estimates and
evaluation of the reserves and resources contained in this announcement were
prepared by independent reserve engineers, Netherland Sewell & Associates, Inc.

[billbyrne] 12/2/2010 16:44

Should find out more in the operations and reserves update next Tuesday.
I am looking forward to the update, may hear something about the move to
the main list as well.

[humphries1] 08/12/2009 09:38

some info technology havnt read it yet will do when i get time

[philyaboots] 08/12/2009 09:31

This is interesting reading. One to watch from here on, i think.



Seems that they have cleaned up the balance sheet and added $20 million in cash in one move. BlackRock on board, and no debt. Would be good to know more about this production technology. Also what was their cash burn since June 30th when they announced about £8.6 million in the balance sheet. In any event, cash in the bank could position them well to fund future drilling and push production levels up. Anybody looking at this?

[biomole] 25/9/2009 16:47

Convertible Bond

Green Dragon Gas Ltd (AIM:GDG), the Chinese coal bed methane business, announced today that in accordance with the US$45 million Convertible Bond terms and conditions, the Company is required to pay the note in full on or before 7 December 2009.

"The Company will announce its decision on a London or Hong Kong main board listing shortly. The Company continues to interview various institutions which would underwrite such a listing. This agreement to repay the bond will be timely to such a listing", stated Mr. Randeep S. Grewal, Chairman & CEO.

Very clever businessman is our Mr Grewal. I sincerely hope that he will stay on the main LSE market. Will they repay the $45m on the same day sending the share up and getting some well deserved publicity on the way? Why else would he send out this rns now? The note is due on 7th December, so here's hoping and counting down the days...
Good luck
BM

[humphries1] 11/9/2009 13:49

a bit on cbm in china