Greka Engineering & Technology Ltd Contract with CUCBM

TIDMGEL

Greka Engineering & Technology Ltd

13 August 2015

13 August 2015

GREKA ENGINEERING & TECHNOLOGY LTD

("Greka Engineering" or the "Company")

Contract with CUCBM

Greka Engineering & Technology Ltd. (AIM: GEL), an unconventional gas sector engineering and technology business with pipeline, gas compression and power generation assets in China, is pleased to announce that the Company has entered into a construction contract (the "Contract") with China United Coalbed Methane Corporation, Ltd. ("CUCBM"), the state-owned Chinese coalbed methane company.

The contract is to modify the power facilities of four valve groups for the purpose of connecting and powering 56 CUCBM wells and follows the successful pilot program to connect one valve group to power 10 of CUCBM's wells which completed in 2014. Under the Contract, Greka Engineering will be responsible for power line construction and support equipment installation. The Contract requires that the work be completed by no later than 31 December 2015 and is expected to result in the ongoing supply of power by Greka Engineering to the connected wells.

Randeep S. Grewal, Chairman of Greka Engineering, commented:

We are pleased to see the development of our relationship with CUCBM. With over 1,500 wells ultimately requiring connections to power grids at the GSS block, this represents an excellent growth opportunity for the Company, which should both expand our engineering footprint and contribute to the Company's profitability this year and beyond.

Contacts:

 
     Greka Engineering 
      Randeep Grewal, Chairman                             [phone] 
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     Smith & Williamson 
      Nominated Adviser 
      Dr Azhic Basirov / David Jones / Ben Jeynes         [phone] 
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     WH Ireland 
      Broker 
      Tim Feather                                         [phone] 
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     Walbrook                                             + 44 20 7933 8780 
      Media & Investor Relations                          [e-mail] 
      Paul Cornelius / Guy McDougall 
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About Greka Engineering and Technology

Greka Engineering & Technology Ltd., (AIM; GEL) was demerged from Green Dragon Gas Limited (AIM; GDG) via a dividend in specie and was admitted to trading on AIM in September 2013.

Greka Engineering offers turnkey solutions to over 90 upstream, midstream and downstream gas suppliers. The Company's technologies include Compressed Natural Gas/Liquefied Natural Gas (CNG/NLG) compressor equipment, CNG retail dispenser equipment and CBM wellhead extraction technologies. The Company also supplies proprietary Integrated Circuit Card Point of Sale (ICC POS) and Supervisory Control and Data Acquisition (SCADA) software and hardware solutions for the remote management of transmission systems, power facilities, vehicle management and retail services.

In addition, the Company invests in, operates and maintains wholly owned assets for its customers in return for service contracts based on the volume management.

The Company has historically completed several Engineering, Procurement, Construction and Management (EPCM) contracts including the design, construction and management of gas gathering systems, a gas pipeline in Shanxi Province to the China West-East pipeline, the installation and commissioning of a 10MW gas-fired power facility in the Shanxi province and the construction of CNG retail stations.

For more information of Greka Engineering, please visit the company website at: www.grekaengineering.com.

This information is provided by RNS

The company news service from the London Stock Exchange

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