Greka Drilling Share Discussion Threads

[jamesd888] 06/4/2017 14:10

hxxp://tiptv.co.uk/proactive-investors-greka-drilling-06-04-17/

Proactive Tip Greka Drilling today see the video and tip

[jamesd888] 06/4/2017 14:08

Volume crossed 2 million..MM'S are gonna let this go very soon

[jamesd888] 06/4/2017 13:28

Expect the second wave to rise upwards after the American open, so still cheap to get in at this price.

[jamesd888] 06/4/2017 13:26

Expect the second wave to rise upwards after the American open

[guru121] 06/4/2017 11:52

Well done,Randeep.

[jamesd888] 06/4/2017 11:29

Volume now x 10 of normal daily at 1.8 million....expect if we get to 8-10 million volume today we would close at 9-10p

[jamesd888] 06/4/2017 11:15

More contracts up for grabs in india:

hxxps://energyinfrapost.com/cabinet-approves-policy-early-monetization-coal-bed-methane-gas-marketing-pricing-freedom-cbm-gas/

[glennborthwick] 06/4/2017 11:06

keep em coming james

[jamesd888] 06/4/2017 11:01

it's been a long wait but this is really significant contract in India. This had gone so low, so expect multi bags from here onwards

[jamesd888] 06/4/2017 10:53

More Press news:

Greka Drilling rockets on huge new contract in India
Share
09:45 06 Apr 2017
Some of the largest share price rises and falls in London at 9.45am: Greka Drilling; Provexsis
picture of oil well
Greka's contract is for 73 wells
Greka Drilling Ltd (LON:GDL) has won a contract from India’s largest exploration and production company to drill 73 holes over a three year period, sending its share price more than 50% higher.

The deal with state-owned Oil and Natural Gas Corporation is still subject to contract, but Greka is expecting to be issued with a letter of intent later this month.

Shares in the contract driller rose 73% to 4.68p.

[jamesd888] 06/4/2017 10:28

Very strong start for Early morning...exciting times and expect a massive rise today

[jamesd888] 06/4/2017 10:19

Grewal also reveaed that the company is in “advanced talks” with other oil and gas operators in India about mobilising additional rigs in the country this year.

With the award of this contract, Greka will be under contract with state-owned companies in both China and India – two of the largest CBM markets in the world

[jamesd888] 06/4/2017 10:09

This is now going rocket today...bring it on...get in now

[jamesd888] 06/4/2017 10:07

ZAK MIR TIPPING THIS TO HIT 7P

[jamesd888] 06/4/2017 09:57

Looking very strong and all blues wont be long now before 5p is taken

[jamesd888] 06/4/2017 09:56

First press article just released on the contract

[jamesd888] 06/4/2017 09:34

Top of the leaderboard now on risers....get ready 5p is about to be taken out

[jamesd888] 06/4/2017 09:34

glennborthwick...expect this to rally today once news has got around of this contract.....plus has more contracts to come, so your timing is good.

[srpactive] 06/4/2017 09:29

Good contract win, now for China.

[jamesd888] 06/4/2017 09:29

UP 73% NOW

[glennborthwick] 06/4/2017 09:29

I'm in at 4.4p punters money just a touch over a grand worth for now till I look further but like the fact that its come down a long way and hopefully coming out of the bottom of the cycle. Govt contracts, bond people prepared to prop it up at the bottom bodes well.

[jamesd888] 06/4/2017 09:28

GDL CHOSEN FROM 17 BIDDERS...AMAZING

[jamesd888] 06/4/2017 09:28

Greka Drilling Limited
("Greka Drilling" or the "Company")

Greka declared winner of ONGC Contract

Greka Drilling Limited (AIM: GDL), the largest independent and specialized unconventional oil & gas driller in Asia, is delighted to announce that it has been declared the winner, subject to contract, of a three year integrated drilling contract by Oil and Natural Gas Corporation Limited ("ONGC ") for ONGC's Bokaro CBM asset (the "Contract") in India.

ONGC, the Indian Government owned company, is the largest exploration & production ("E&P") company in India and is engaged across the E&P and refining businesses. ONGC also has extensive joint-ventures globally.

Greka Drilling was among 17 bidders that submitted their bids for the Contract including both domestic Indian drilling contractors and global drilling contractors.

The Company has been informed by ONGC that it is the winning 'L1 bidder' of the Contract.

ONGC is now completing its internal procedures before issuing a letter of intent ("LOI") to the Company. The LOI, which is expected to be issued during April 2017, is expected to provide, subject to contract, for the drilling of 73 wells over the next three years. Under the Contract, the Company will deploy one of its purpose built efficient semi-automated GD75 rigs based in India. The project will entail the provision of drilling and mud services along with the provision of associated equipment and is estimated to generate revenues of a total of US$15 million over the three year period. Following receipt of the LOI, mobilization of the GD75 rig is expected within 90 days.

Randeep S. Grewal, Chairman & CEO of Greka Drilling, commented:

"I am very pleased to announce this significant milestone in our business development in India. While the Company has already demonstrated its expertise in India for its existing client, Essar Oil Limited, the winning of the ONGC tender against 16 other well established drilling contractors is a confirmation of Greka Drilling's mastery within the coal bed methane ("CBM") niche. As a global leader with over 20 years of experience in CBM drilling, we look forward to continuing our track record in supporting ONGC in its development of the Bokaro asset.

Greka Drilling is also in advanced talks with other oil and gas operators in India to mobilize additional rigs in the country during 2017. The Indian Government's progressive plan to develop domestic CBM gas resources was demonstrated in March this year when it approved market pricing freedom for all CBM produced and sold in India. This very long awaited policy has been a catalyst to the robust reaction from operators which are aggressively moving forward with their previously shelved drilling plans. In view of this CBM gas pricing reform, we are bullish on the prospect of increasingly providing our specialized drilling services within the niche CBM sector in India.

The Company has succeeded in executing a balanced business plan in two of the largest CBM markets - China and India. Following the award of the Contract, Greka Drilling will be under contract with State-owned companies in both China (CNPC) and India (ONGC) as well as with the largest domestic CBM developers Green Dragon Gas and Essar respectively.

Notwithstanding the slowdown in the drilling services market, the diversification of the Company's clients and geography gives the Company a well-balanced business plan for the long-term."

[jamesd888] 06/4/2017 09:27

Up 62% and rising steadily

[jamesd888] 06/4/2017 09:26

5P will be taken out very soon glennborthwick