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Greka (Di) Share Price (GDL)



Share Price Information for Greka (Di) (GDL)


Share Price: 1.34Bid: 1.12Ask: 1.56Change: 0.00 (0.00%)No Movement on Greka (Di)
Spread: 0.44Spread as %: 39.29%Open: 1.34High: 0.00Low: 0.00Yesterday’s Close: 1.34

Greka Drilling Limited Ord Usd0.00001 (Di)

Greka (Di) is listed in the FTSE AIM All-Share
Greka (Di) is part of the Fossil Fuels and Distribution sector






Share Price SpacerPrice
1.34
Share Price SpacerBid
1.12
Share Price SpacerAsk
1.56
Share Price SpacerChange
0%0.00
Share Price SpacerVolume
0
Share Price SpacerOpen
1.34
Share Price SpacerHigh
0.00
Share Price SpacerLow
0.00
Share Price SpacerClose
1.34
Share Price SpacerCurrency
GBX


Currency Issue Country Shares in Issue Market Capitalisation Market Size
GBX GB 398.25m £5.34m 150,000

52 Week High 3.00 52 Week High Date 12-OCT-2017
52 Week Low 1.20 52 Week Low Date 25-JUL-2018

# Trades Vol. Sold Vol. Bought PE Ratio Earnings Dividend Yield
0 0 0 -2.814 -0.48 0.00 0.00


London South East Users info for Greka (Di)




Date
Time
Trade Prc
Volume
Buy/Sell
Bid
Ask
Value
 

13-Aug-18
16:02:51
1.25
95,000
Sell* 
1.25
1.92
1,188
Trade Type:
Automatic execution

13-Aug-18
16:02:33
1.2567
25,000
Sell* 
1.25
1.92
314.18
Trade Type:
Ordinary

10-Aug-18
15:18:41
1.05
50,000
Sell* 
1.04
1.39
525.00
Trade Type:
Ordinary




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Directors Deals for Greka (Di) (GDL)
Trade DateActionNotifierPriceCurrencyAmountHolding
There is currently no Directors Deals information for Greka (Di)
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Immyspecial
Posts: 855
Opinion:No Opinion
Price:1.215
RE: AGM
1 Aug '18
Thanks for the update james
Jamesiecakes
Posts: 128
Opinion:No Opinion
Price:1.215
RE: AGM
31 Jul '18
Continued;

General points

G3E are considering expanding into India, UK, Southern Africa & Australia. This was only mentioned in passing (as it wasn’t a G3E meeting), my view would be even if G3E goes into a new area it will take time for GDL to benefit.

As per the 2015 (possibly 2016) AGM Randeep made a quote that he “would love to drill a Lifabric in the UK”, This to me is a very distant possibility but one that i always really like the sound of. It gives me that small bit of hope I might actually make my money back!!

The board do not see a risk that the loanees will not grant an extension as the debts, fall due.

The cost structure has been flipped on its head, with much more emphasis on variable costs. Basically the business is now right sized (not carrying a huge staff with zero work).

3 Rigs Drilling continuously (1 vertical well a month), or 36 vertical wells a year (dynamic changes if directional) should see the company break even on a cash basis (e.g. ignoring depreciation and other non cash items).

The G3E refinancing is expected in H2, more specifically Q3, however these things historically seem to drag so I’m not holding my breath here.

Conclusion

All in all the AGM was as expected, lots of promise but as always its around the corner.
Jamesiecakes
Posts: 128
Opinion:No Opinion
Price:1.215
RE: AGM
31 Jul '18
My notes from the AGM;

The AGM was poorly attended, 3 individuals including myself (and I’m guessing one of those was Mr Chow). This poor attendance shows how unloved (with reason) GDL currently is.

China

China is going “quite well”

GDL continue to drill for CNPC (incl Petro China), with 7 Rigs currently drilling on CNPC behalf. The trend is that Greka are getting the more complex wells and this trend is expected to continue.

GCZ requires 147 wells drilled before YE 2019 (18/04/2017 G3E RNS has this at YE 2018, so hoping i heard/wrote 19 down incorrectly) GDL can expect to receive 75 of these wells (G3E can nominate a drilling co to drill 50% of the wells). As such GDL can expect roughly $26MM in revenue from this over the next 18 months. Interestingly this isn’t dependent on G3E raising finance as CNPC will carry G3E if required. Not much clarity on when this drilling campaign would start, the quote was something along the lines of “could be 1 month from now or a further 2 months from that”, however I took this time frame with a pinch of salt.

The GSS Lifabric campaign is dependent on when G3E sort there financing, there will also be various other work coming from G3E and GDG over the coming years (the great unknown is when).

India

ONGC demands got out of hand after the contract was signed, largely due to working capital issues (wanting GDL to purchase BOPs at around $2MM, prolonged payment terms etc). Resulting in the contract being unworkable from GDL perspective. There was a cost to GDL which was swallowed as 3 teams were mobilised (the numbers of teams is from memory not my notes so i could be incorrect here).

Essar still owe money, payment from them is starting to dribble through (immaterial value to date) and will be used to settle outstanding payables in the country.

No new work will be undertaken unless the receivable risk can be mitigated eg bank guarantees (from reliable banks). It was mentioned that both Essar and ONGC have tried to contract GDL, however the working capital terms were not acceptable. There is also potential work from Reliance and Coal India now that the latter can develop the Gas. I am not expecting anything from India anytime soon.

General points

G3E are considering expanding into India, UK, Southern Africa & Australia. This was only mentioned in passing (as it wasn’t a G3E meeting), my view would be even if G3E goes into a new area it will take time for GDL to benefit.

As per the 2015 (possibly 2016) AGM Randeep made a quote that he “would love to drill a Lifabric in the UK”, This to me is a very distant possibility but one that i always really like the sound of. It gives me that small bit of hope I might actually make my money back!!

The board do not see a risk that the loanees will not grant an extension as the debts, fall due.

The cost structure has been flipped on its head, with much more emphasis on variable costs. Basically the business is now right sized (no
Immyspecial
Posts: 855
Opinion:No Opinion
Price:1.215
RE: AGM
31 Jul '18
Mr Chow, hope it starts coming and the SP finally takes a turn cos i present we only have been going one way for years!
Possywaves
Posts: 39
Opinion:No Opinion
Price:1.215
1.98
31 Jul '18
GDL website has buy @ 1.98 most of the day? Are we on the rise?
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