Greka Drilling Share Discussion Threads

[guru121] 22/1/2015 12:57

More contracts:)
Greka Interested in Reliance CBM

London-Listed Greka Drilling, already working for Essar at its Raniganji field in West Bengal, and Keen to expand its business in India, is one of seven companies interested in a Reliance tender to drill 225 wells at its Sohagpur (East) and Sohagpur (West) CBM blocks in Madhya Pradesh. Reliancce is also evaluating EOIs received on October 10, 2014 from Mining Associates, South West Pinnacle, John Energy, Towell Drilling and newcomers OM metals and super drilling.

“Reliance wants to pre-qualify companies this month (January) and issue tenders immediately, confirms a source. “so it can begin drilling by June this year, each to an average depth up to 1000 metres. South West Pinnacle or Towell Drilling are clear favourites as they already have rigs working for Reliance on site: “OM Metals and Super Drilling will have a tough time” adds a source “They don’t Have experience”
Well,GDl has plenty of experience.:)

[johnwise] 12/1/2015 08:46

I see we have the serial De Ramper on this morning

[yf23_1] 09/1/2015 00:13

Oh God, the little child is back.
Seems like you lost all your money already, now want everyone to lose theirs.
Have you nothing better to do.
Its quite simple, they either will make a return on their drilling or they won't.
I am sure people on here are quite aware of the risks and rewards.
All you are doing is makng yourself look silly.
Get over it and move on.

[mikealig] 07/1/2015 09:08

I don't see what's not to like here. RG has a majority stake in GDG and GDL (as well as Greka Engineering). It seems to me that it's not in his interest to see any of these companies fail. To a large degree he can 'park' the profits in these companies as he sees fit. So GDG could, within reason, give a fairly lucrative contract to GDL and there's certainly no point in GDG turning GDL over.

Just my opinion.

[jackthecat] 06/1/2015 21:58

why isn't this going up??.

[guru121] 06/1/2015 08:01

Morning gentlemen,congratulations!
300M. contract coming our way.
Ok. Firstly I suggest all investors look at the London Oil Conference presentation on the GDG website. There were many doubts about this "NEW" plan which changed from GSS GDG work for 2015 to opening up 4 blocks by April. GSS more GDG work as per this rns, GZZ, GFC already targeted as the 2nd most advanced block and pointed out in the prospectus for GDG London Main Listing in Oct last year that GFC "has great LiFaBric potential" and the huge GQY block. 1st point to note, Preperation mobilisation for January? When this was put down in the "NEW" plan many ling term investors doubted this and it is known that winter in the area is normally hard and drilling starts in March. This is bang on target to hit the dirt at the first moment of possibility in late Feb early March. Tick 1 for the "NEW" plan. Now why $45m ? HUNGRYMONSTER - you know the score here and why we both have been investing over the last few weeks in GEL. Simple. GEL is also under 65% ish share ownership by Randeep Grewal the CEO of GDG and GDL. He will look after all his family. GDG dtilling on GSS will need infastructure increases on a large scale as a further 110 .... YES 110 wells are planned for 2015 & 2016. Pipework, electricity, cabins, land prep etc all need to be done in this rough terrain and it will be , imho, GEL win the remaining portion of the loan so approx $30m. It makes sense to take such a large drilling operation a stage a time, fully funded for each part of the drilling campaign. I can now look forward to rns's from CNPC / PETROCHINA & SINOPEC in the very near future based on the " NEW. " plan provided by GDG. Excellent news and much more focused in my view. On India , It appears they are well in to drilling part of the 100 well contract for this year. I also expect to hear further contract news from ESSAR OIL on more work for GDL later in the year. Well done to all the believers for holding through these silly low prices and lets now look forward to a year of drilling for a change. Good luck all. A very strong buy !RHood

[johnwise] 06/1/2015 07:59

RNS Number : 3344B
6 January 2015

Greka Drilling Limited Drilling Order

30 LiFaBriC Well Order Valued at US$45m

Mr. Randeep S. Grewal, Chairman of Greka Drilling, commented;

"We are pleased to announce that the Company has completed the 2014 drilling program of 10 LiFaBriC wells for Green Dragon Gas Ltd and is delighted to begin the 2015 campaign with this 30 well LiFaBriC order. The value of this Work Order is approximately US$45m and is in addition to our existing US$65m contract for Essar in India, a substantial portion of which will be completed in 2015. We indeed look forward to a robust 2015."

[conc2] 06/1/2015 07:59

good news out

[spurberry] 02/1/2015 09:31

Thanks John,

When you hoping for news and what share price you looking for?

[johnwise] 02/1/2015 08:59

Greka Drilling has a significant first mover advantage in the application of specialist LiFaBriC horizontal drilling methodology in the exploitation of Coal bed methane in China.

China Daily

China builds largest coal mine waste gas recovering project

TAIYUAN - The world's largest facility to turn excess methane gas from coal mines into electricity has been completed in North China's Shanxi province.

[spurberry] 02/1/2015 08:37

Sorry I hear about this contract in jan, what contract and is it definite?

Read the rns's etc and can not see anything about it.

Why does tw dislike this so much?

[goldfeverthrush] 26/12/2014 15:54

I see the crews in India are drilling at full speed and working round the clock. looking forward to the ops update on that contract.

[guru121] 23/12/2014 15:07

$210M. contract is on it's way.City rumour

[guru121] 23/12/2014 14:57

Key Points: Key customer Green Dragon Gas has announced an exercise of warrants which has led to receipt of US$43m by the company. This cash injection adds to the recent issue of US$88m worth of corporate bonds by Green Dragon. This is significant for Greka in that Green Dragon is expected to embark on a drilling programme of up to 140 lifabric wells beginning in 2015 and this should provide it with additional funds to help achieve this (US$210m required in total and Green Dragon is also targeting further debt placement in Q2 2015). Green Dragon can be expected to award the entire contract to Greka – which has up to 15 rigs available for this – and commencement of the new contract in volume could add significantly to Greka’s earnings.

could the above explain the delay for the 50 wells? could we see some more funding news at GDG over the next few weeks?......it could be that GDG plan to sign the whole contract rather than 50 wells.J.T.

Edison valuation 40P-45P.
My target still is 50P:)

[conc2] 23/12/2014 13:02

contract is on its way

[mikealig] 23/12/2014 12:51

Just read the edison note which says it was updated yesterday. Whilst a small (0.4p) loss per share is forecast for 2014, next year they're expecting EPS of 7.5p and value GDL at 45p based on that.
P/E of 6 sounds quite modest if they really can make that sort of progress.

[mikealig] 23/12/2014 11:47

Looks like it's sticking around a bit longer then.

[beazley] 16/12/2014 16:17

Oh dear this is collapsing!!
How does the song go again ?

'Christmas time
Missedforecasts and whine.....'

Could be over by xmas imo.