Greka Drilling Share Discussion Threads

[goldfeverthrush] 29/8/2014 06:57

RNS today?

[mortie1] 27/8/2014 15:09

A little action today. Maybe we are due an operations update. I'm
hoping for a "We have commenced operations in India" within the
next few days.

[goldfeverthrush] 19/8/2014 14:10

not many trading days left before this goes into orbit.

[mortie1] 12/8/2014 16:25

It's a good job that in China, GDL is mainly concerned with coal bed methane rather than shale gas then.

[loadsadough] 12/8/2014 16:15

China is finding it harder than it expected to unlock a shale gas boom like the one in North America - GDG, GDL, LRL- Today, 4:14 PM

calling into question its lofty goals to use natural gas to help clean up its air and control the growth of greenhouse gas emissions. Citing complicated ge - GDG, GDL, LRL

[jakatripe] 12/8/2014 15:12

Gekko You muppet, you post facts lolWho said their profit margin was 5%?Your off your head Do one

[gekko68] 12/8/2014 14:49

I posting facts here. Dont see anyone willing to provide proof that im wrong. With a profit margin of around %5,they would have to increase there revenue by %2000 just to pay of there debt & that is based on there current new contracts wins. Go on prove me wrong. If they had a revenue of $200M with a profit margin or around %5,that would give them a profit of only $10M,would still take them 5 years to pay of the debt. They have never achieved a revenue of over $100M let alone $200M.

[jackabit] 12/8/2014 14:44

gekko( lizaard)jackabite,dont invest in gdl.

[yf23_1] 12/8/2014 13:44

"Come on YF,make it all clear to us about there accounts"

You need to study more. First English language and its meaning, then business in real situations.

Yawn

[mortie1] 12/8/2014 13:04

Why do you care? You're not invested here. Why don't you let us that are worry about it?

What's important to me is that I can see clearly what happened last year and it was well documented at the time. Going forward, they have mobilized to India for the $68mm contract ( 2x last years revenue) They have rigs and trained personnel, they have an ongoing contract with Green Dragon, who have publically committed to an extensive drilling programme. You worry about comparing 2013 to 2012, I'm not going to.

[goldfeverthrush] 12/8/2014 12:54

their there. pmsl. yawn.

[gekko68] 12/8/2014 12:31

Come on YF,make it all clear to us about there accounts. Why are they profits going down? More than half there debt covered by profits? Are you joking?
31-Dec-12 Revenue $60.92 Profit $3.46. So what is the profit margin here for 2012? Just over %5. Do you think perhaps it will go up to around %50 to pay of half there debt? I posted the profit & loss. Anyone clearly explain why there profits keep going down. Now don't get it confused with revenue. Why is there debt level going up?

[yf23_1] 12/8/2014 12:22

How can someone not understand the difference between 'there' and 'their' yet think they understand the details of complex accounting ?

[mortie1] 12/8/2014 12:19

Gekko68,

Your agenda is clear.

GDL had, at Dec 31, 2013, net debt of $17,8mm ( LTD+CL-CA) A fact you tried to mislead people into thinking was GBP 51.17. When your error was pointed out, was there a word of apology, no, just a sneaky edit of the post.

Its possible that more than half of the debt is covered by the profit on the Indian contract. Any upswing in activity by Green Dragon should easily take care of the rest. It is more than likely that the Indian contract included a Mob fee of several million dollars, so cash should not be an issue. Having said that, cash is always an issue so I hope their experience in getting slow paying Chinese customers to pay will stand them in good stead in India.

[goldfeverthrush] 12/8/2014 11:29

sell their assets gekko? are you seriously suggesting that greka should sell their rigs?!!! they're all going to be in use very soon!

[mortie1] 12/8/2014 11:11

You're right, like idiots who quote debt figures of GBP 51.17mm when they are nothing of a sort, then go back and edit their post to read $51.17. Still wrong as includes current liabilities with no corresponding deduction for current assets.

Haven't they just announced they are starting their USD65mm contract, why do you think profits will be going down?

Why should anyone listen to the opinion on profits from someone who clearly can not read/ understand a set of accounts.

"You think they could sell there assets to pay of there debts?" It's "their" btw.

As $16mm of the current assets is cash at the BS date, they shouldn't have too much trouble selling that one.

[gekko68] 12/8/2014 10:55

You think they could sell there assets to pay of there debts? It aint going to happen,they will have to find money to pay the interest on any loan. The problem is mortie,most of the mugs buying into this company believe all that they read on these boards without doing any research. The debt levels are going up year on year. I dont quite see the profits going up,looks to me there going down.
There debt level is £30.5M,that pounds. I did the read t accounts properly,just made a slight typo.