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With a new target price of £9.52 just for starters this should fly in the coming months.
The Fengcheng Block’s formation has responded extremely positively to horizontal drilling and the Group expects to further develop the Block using LiFaBriC technology. Fengcheng Block is the Group’s second most advanced Block. As at 30 April 2014, the Fengcheng Block has 28.7 BCF in net 2P gas reserves and 244 BCF in net 3P gas reserves. Source prospectus. I thought GNS was probably next and maybe so. but looks like the Bod are suggesting here that the data sets are of very good quality and there is 28 BCF in 2p reserves to be going at. Also reasonable drilling depth too for LiFaBric looking at approx 20-25 days? 43 days was for 1,400-1,600m.
Listing ...
Tbh, any time, literally ! I would think from tuesday after listing day has passed without hitch. I say from ... Spreads on all 3 are big so no mm wanting buys . Clue on news. GEL sp ? Could it be more than 1 contract ? ? ?
RH when you think contract be announced? cheers ATB
Imagine the rise on listing day and when THAT contract is announced. GDL will fly even faster once that $220m contract drops in.
Anyone know?
A big sp jump coming soon in a town near you !
"The Group’s intention is to finance these programmes through a combination of the Group’s existing cash reserves, production revenues and additional financing. In the event that such financing becomes available in the near term any one or all of these strategies can be accelerated to compliment the Group’s strategy in the 18 months following Admission which in itself may be accelerated or expanded in light of the availability of such financing."
All good news and it keeps coming. Green Dragon have some heavyweights behind them now as they enter the big boys arena !
Why ? £££ to be made ! Thats 2 major brokers in just over 1 month. Big things are coming and for the drilling company Greka GDL who are the ones who will help drill all that extra gas out if the ground ! Gla.
they will be in FTSE 250
The increase in p1-2-3 is all good news for GDG and GDL as Green Dragon are going to borrow against their reserves to fund further LiBric wells. All on tract for a stonking Q4 !
+ increased reserves, out now. Hope this starts to kick on baby brother GDL. Good luck all holders
Well done the patient....happy days but still a long way to go. Just need to give GDL a kick up the backside. Should filter through soon.
2015 will see the GREAT CONNECT ! Watch wait and enjoy the rise in production ! Now who else would be involved ? Get in early while you can as 1800 wells need connecting up or re working ? GDL ?
MUCH MORE ... the $225m GDG finance deal to be awarded to Greka Drilling who are currently on 3 year lows of around 9-10p mark, is only 1 of several BIG steps forwards ! All I can reiterate is BUY while you can. Sub £5 as I said for weeks is peanuts so well done to those who could buy. Good luck HEALEY1 & THEMERLIN .... You deserve it, especially you TM for all the positive posts over the last few dumb ass months of sub £5. I am not a holder here, but have substantial holdings in GDL to declare I have no financial gain here on GDG. I will be buying when they declare a dividend and become self funding, huge steps are NOW being made !!!
Green Dragon Gas (AIM: GDG LN) is a coal bed methane (“CBM”) exploration and production company with eight blocks on six production sharing contracts (“PSCs”) in China. With issues regarding title removed, GDG has direct equity interest in c.1870 wells (including 78 LiFaBriC). In addition to being the largest CBM independent in China, it has trucks, pipelines, and wholesale and retail distribution stations for compressed natural gas (“CNG”). We anticipate a step-change in cash flow and for LiFaBriC drilling to become a manufacturing process. We initiate coverage with a BUY recommendation and TP of 952p.
LiFaBriC wells become a manufacturing process. LiFaBriC methodology, an adaptation of traditional horizontal drilling methods, is mature, offers stable production with little decline, and the interference created by LiFaBriC wells is potentially able to aid de- watering and boost production from proximal vertical wells. All suitable wells are being systematically connected to infrastructure as they de-water. Close partnerships and secure title achieved, ambiguity eliminated. Firm agreements are now in place regarding title. GDG has settled its litigation matter with ConocoPhillips to the mutual satisfaction of both parties. The interests of partners PetroChina, CNPC, CNOOC and CUCBM are now aligned with GDG. The company is now looking to reserve-based lending (“RBL”) to progress a 150 LiFaBriC well drilling programme. GDG’s focus is the migration of its reserves towards 1P. In May 2014 Netherland, Sewell & Associates (“NSAI”) increased net 1P reserves by 113% to 126Bcf (59Bcf in 2012) and net 2P by 22% to 382Bcf (314Bcf in 2012). Move from AIM to LSE Main Market in October 2014. We believe this will enhance liquidity and the company’s profile, whilst potentially reducing share price volatility.
Imminent step-change in cash flow. Currently, GDG holds a 60% interest in producing block GSS (expected to increase to 70% in 2015) with a cost recovery preferential cash flow of 90%. As such, the company will recognise 96% (90% cost recovery plus 60% of the remaining 10%) of revenues arising from production until all historical capex is repaid in full. Given the significant capex spend projected (150 new wells on GSS at an estimated cost of c.US$225m) the 96% preferential cash flows will have a significant impact on GDG’s 2015 financials and beyond. The 2014 Interim results showed encouraging revenue from block GCZ. Net sales of CBM amounted to 2.8Bcf, of which 2.06Bcf was attributable to GCZ and revenue of US$8.4m was recognised.
Wonder why ? Hold at the moment.
Anybody here actually think GEL could turn out as a good investment one day, because right now it seems like a dog. No trades, impossible spread, no news ever! What's the point?
This has loads to go yet ! Just the start of a run towards £10.00
China’s demand for gas will increase to 335 billion cubic metres per year by 2017, as a result of favourable environmental policies aimed at cleaning up the country’s toxic smog, energy consultancy Wood Mackenzie said in a report released on Monday. The Chinese gas market will suffer some near-term growing pains as new supplies take time to ramp up, but over the next three years demand will surge from this year’s estimated 207 bcm – driven mostly by power generation, transport and the residential-commercial sectors. "While gas demand growth has been slow through 2014 – due to gas price reform, and soft GDP growth – we see strong long-term fundamentals supporting gas demand growth in power," David Brown, Woodmac’s Northeast Asia power markets manager, told Interfax. "Urbanisation, large potential markets and policies supporting growth drive our demand assumptions for power in the long term," he added. Gas will show the strongest overall demand growth among energy commodities. Demand will increase by an average of more than 4% every year between 2020 and 2030 to reach 655 bcm, making it the second- biggest gas market in the world behind the United States, Woodmac said. That figure dwarfs an estimate of around 550 bcm by 2030 given last week by Zhang Yousheng, director general of the Energy Research Institute thinktank under the National Development and Reform Commission.http://interfaxenergy.com/13967 GLA.
what exactly are you guys expecting to happen on 27th? a big rise in sp just because we switch to main board? can't see it happening myself, there will have to be other news, ie 140 wells or something else spectacular.