Greka Drilling Share Discussion Threads

[srpactive] 07/6/2017 09:32

Getting a right royal shake here, back down to the levels
pre contract rns, dyor.

[srpactive] 06/6/2017 08:13

C

Even your gdg is up this morning, dyor. Should be good news for gdl also.

==============================

RNS Number : 0894H

Green Dragon Gas Ltd

05 June 2017

5 June 2017

GREEN DRAGON GAS LTD

("Green Dragon Gas" or the "Company")

Nordic Bond Update

Green Dragon Gas Ltd. (LSE: GDG), one of the largest independent companies involved in the production and sale of Coal Bed Methane (CBM) gas in China is pleased to confirm it has received 100% acceptances of the requested waivers of its financial covenants for the US$88 million senior secured bonds (the "Bonds") with Nordic Trustee ASA (the "Bond Trustee"), which acts as the trustee for the holders (the "Bondholders").

Alongside the successful execution of the waiver negotiations, we have also agreed with the Bond Trustee the release of the non-core downstream operational assets which will conclude the evolution of Green Dragon Gas into a pure upstream business, and will have achieved the first of the five stated objectives for 2017 as published in the Company's trading update on the 27(th) April 2017.

We look forward to updating the market on the delivery of the remaining objectives as the year progresses.

[srpactive] 05/6/2017 14:09

c

Rns today at your gdg.

[srpactive] 04/6/2017 21:30

Well I have not followed that one, but I would presume
it will move at the same time as here, all waiting for
the first move then up we go, dyor.

[coxsmn] 04/6/2017 08:24

Srp, what do you think about gdg? do you think its bottomed?

[srpactive] 03/6/2017 19:29

Yes well lets hope these contracts are started very quickly, dyor.

[coxsmn] 03/6/2017 18:58

cbm is all part of the ongoing government push away from coal to gas.

[srpactive] 03/6/2017 11:31

Surely with comments like this, China should push further
with cbm, to recover gas, dyor.

================================

Opponents of Donald Trump’s withdrawal from the Paris climate accord have moved to isolate Washington, with US local governments vowing to ignore the White House decision while Europe and China agreed a “green alliance” to take over leadership of the global climate agenda.

[srpactive] 03/6/2017 07:22

C

Thank you, your thinking is the same as mine, I was
most disappointed after the last contract win that
we did not move on, maybe one day soon, dyor.

[coxsmn] 02/6/2017 23:26

Srp,
I thought the GDG presentation was interesting and with government approval now granted I'm guessing it won't be too much longer before drilling contracts are awarded with GDL being a likely beneficiary. There are no guarantees but the potential definitely seems to be there assuming they can get some more business wins and grow their order book. Still quite a risky one at the moment.
All Imho.

[srpactive] 02/6/2017 20:22

Thank you, what is personal view of gdl and all the potential
work in India and China?

[coxsmn] 02/6/2017 17:52

Srp,GDG interview, 2nd June147 well drill this year through to next.http://www.proactiveinvestors.co.uk/companies/stocktube/7568/green-dragon-gas-randeep-grewal-on-their-very-exciting-asset-development-plans-7568.html

[srpactive] 02/6/2017 13:24

A few very small buys starting to nibble, dyor.

[srpactive] 02/6/2017 12:37

Yes just looked at it, thank you.

What do make of it all here at gdl?

[coxsmn] 02/6/2017 12:12

GDG presentation dated 31st May is published on the Proactive website.www.proactiveinvestors.co.uk/archives/documents

[srpactive] 01/6/2017 16:38

Decent sized buy at the end of play, chart attempting to form a base.

In all fairness the loi delay does not seem to be the fault of gdl,
once a decision by others is made, gdl should get the award, dyor.

[srpactive] 01/6/2017 12:50

This from another thread, does seem to explain the slight delay, fingers crossed.

============================================

Authority of India (SAIL) is in talks with ONGC for CBM supplies to its Bokaro Steel Plant in Jharkhand as it prepares conversion of dirty coal-fired blast furnaces to clean gas. "Informally ONGC has told us production will begin within a year," adds SAIL. "For the past one year we have been talking." With its 35,000 strong workforce spread across 11-sq km the 4.5m t/y Bokaro liquid steel plant is among India's largest and potentially a prize catch for CBM from BK-CBM-2001 which ONGC (80% and operator) shares with IndianOil (20%). "Only with more information from ONGC on (CBM) availability, pipeline connectivity and price can we go ahead," adds our source. ONGC's annual report for 2015-16 promised first CBM from BK-CBM-2001 this fiscal or before March 31 (2018) with projected 'peak' output of 900,000 cm/d and 750,000 cm/d 'plateau' output from 141 planned wells. Since then the number of (planned) wells has increased to 155 and the original Rs823cr ($137m) drilling budget has increased by 20%. ONGC and IndianOil directors need to approve the cost escalation before awarding a drilling contract to UK-listed Greka Drilling

[srpactive] 30/5/2017 15:43

Surely if you are to go in front of a group of investors,
you would want to go in with confidence, not weakness. Weakness
at gdg and gdl is not the best, so hopefully we might have
good news tomorrow, to assist with encouraging investors to
invest in his company. If not what is the point of being there, dyor.

[srpactive] 29/5/2017 17:22

Yes I posted it there, I still feel paf will do okay,
as they have made steps to integrate the black powers.

As I have said before I feel it is a stock for 2018,
I could buy in late October for the dividend and 2018,
but just follow myself for now.

[coxsmn] 29/5/2017 16:55

Unfortunately not but I will look out for a copy of their presentation on the Proactive website. On a separate subject i also read the article about African miners in Today's Telegraph, not sure quite what to make of it and the potential impact if any to uk listed companies such as paf. Any thoughts?

[srpactive] 29/5/2017 14:10

C

Thank you, are you attending?

[coxsmn] 29/5/2017 12:07

Green Dragon will be presenting in London on 31st May. It will be interesting to see if there is any news on their planned drilling timetable.

[srpactive] 25/5/2017 10:21

Walking it down again on very small volume.

[srpactive] 24/5/2017 13:08

And a small 4000 sell and they drop the bid price, getting
desperate to get more stock.