Green Dragon Gas Ltd Report on Payments to Governments for 2015 (4506J)

TIDMGDG

RNS Number : 4506J

Green Dragon Gas Ltd

09 September 2016

9 September 2016

GREEN DRAGON GAS LTD.

("Green Dragon" or the "Company")

Report on Payments to Governments for the year 2015

Green Dragon Gas Limited has prepared the following report in respect of payments made to governments during the year ended 31 December 2015. The information is provided in accordance with the Reports on Payments to Governments Regulations 2014 (2014/3209) and DTR 4.3A of the Financial Conduct Authority's Disclosure and Transparency Rules.

This report is available for download from: www.greendragongas.com

Under the requirements of the DTR, payments to State Owned Enterprises are classified as payments to Governments.

 
 Contract                 Taxes      Royalty     Production   Infrastructure      Licence        Total 
  counterparty/       (USD'000)    (USD'000)    entitlement             cost         fees    (USD'000) 
  project                                         (USD'000)        (USD'000)    (USD'000) 
------------------  -----------  -----------  -------------  ---------------  -----------  ----------- 
 China National 
  Offshore 
  Oil Company 
  (CNOOC) 
------------------  -----------  -----------  -------------  ---------------  -----------  ----------- 
 Shizhuang 
  South (GSS)                 -            -              -                -          247          247 
------------------  -----------  -----------  -------------  ---------------  -----------  ----------- 
 Shizhuang                    -            -              -                -            -            - 
  North (GSN) 
------------------  -----------  -----------  -------------  ---------------  -----------  ----------- 
 Qinyan 
  (GQY)                       -            -              -                -           85           85 
------------------  -----------  -----------  -------------  ---------------  -----------  ----------- 
 Panxie 
  East (GPX)                  -            -              -                -           95           95 
------------------  -----------  -----------  -------------  ---------------  -----------  ----------- 
 Fengcheng 
  (GFC)                       -            -              -                -          110          110 
------------------  -----------  -----------  -------------  ---------------  -----------  ----------- 
 Total CNOOC                                                                          537          537 
------------------  -----------  -----------  -------------  ---------------  -----------  ----------- 
 Contracts 
  with PetroChina 
------------------  -----------  -----------  -------------  ---------------  -----------  ----------- 
 Chengzhuang 
  (GCZ)                      82            -              -                -           35          117 
------------------  -----------  -----------  -------------  ---------------  -----------  ----------- 
 Boatian-Qingshan 
  (GGZ)                       -            -              -                -          146          146 
------------------  -----------  -----------  -------------  ---------------  -----------  ----------- 
 Total PetroChina                                                                     181          263 
------------------  -----------  -----------  -------------  ---------------  -----------  ----------- 
 TOTAL (ALL 
  PRC)                        -            -              -                -          718          800 
------------------  -----------  -----------  -------------  ---------------  -----------  ----------- 
 

The contracts that Green Dragon Gas operates under do not include provision for contract bonuses (signature, discovery, production) nor are any dividends paid from ventures.

For further information on the Company and its activities, please refer to the website at www.greendragongas.com or contact:

Instinctif Partners

David Simonson / George Yeomans

Tel: [phone]

Citigroup

Tom Reid / Luke Spells

Tel: [phone]

Peel Hunt

Richard Crichton / Ross Allister

Tel: [phone]

About Green Dragon Gas

Green Dragon Gas is a leading independent gas producer with operations in China and is listed on the main market of the London Stock Exchange (LSE: GDG). The Company has 549Bcf of 2P reserves and 2379Bcf of 3P reserves across eight production blocks covering over 7,566km(2) of licence area in the Shanxi, Jiangxi, Anhui and Guizhou provinces. It holds six Production Sharing Agreements with strong, highly capitalised Chinese partners including CUCBM (CNOOC), CNPC and PetroChina, and has infrastructure in place to support multiple routes to monetise gas production.

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This information is provided by RNS

The company news service from the London Stock Exchange

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September 09, 2016 07:00 ET (11:00 GMT)