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A quick read through from April seems to indicate the following work: GCZ: 147 wells to be drilled by end of 2018 (Total expenditure $50m+) GFC: 5 vertical + 2 horizontal by May 2018 (Total expenditure c. $7m) GQY: 19 vertical + 8 horizontal by Sep 2018 (Total expenditure c. $17m) GPX: 2 vertical + 2 horizontal by May 2018 (Total expenditure c. $3m) Not all of the cash will come to GDL but it will be a large proportion of it... Total for these c. $77m!! Not to mention GSS which is scheduled for 42 vertical and 47 LiFaBriC by the end of 2020 (Total expenditure c.$190m) And further commitments in phase 2 for the other blocks, additional $2m contract for PetroChina... And awaiting final confirmation of $15m/3 year contract for ONGC in India Added together and even if only a fraction is completed on time this is starting to look very very cheap at 2p!
Doh! Yup just reread it... A little excitement and some confirmation bias creeping in to that mis-read... However based on recent GDG statements it does look as though 2018 will finally be the 'transformational' year RG has mentioned so frequently in the past....
There is another £35mil worth of drilling to be done
Another good RNS from GDG so much going on at the moment with green dragon gas. Just a matter of time till it all come’s to greka
Thanks for the response, I read that as the number of Lifabric and the number of vertical wells but hope you are right! Cheers James
Heh Jamie, On page 23 detailing the 8 block portfolio each block has a number of LiFaBriCs completed with a target number for the block alongside I.e 8/20 I just totalled up the number still left to complete... 142 just for GCZ and GSS... Not saying we will get them all but the plan is there....
Hi Roobans I where abouts are you seeing those numbers in the presentation? I had a quick look but couldn't see anything about future orders other than a lifabric drilling campaign will be launch in Q4. Cheers James
Lets see what order we get placed in Q4.
Anyone else make that 230 LiFaBriC wells to be drilled... still at roughly $1.5m each I presume... ???
Has anyone read the new presentation on green dragon gas website? Worth a read if you haven’t
*efficiency
Credit where credit is due! Definitely agree with that... Would have been very easy for RG to issue equity albeit diluting his considerable stake, however they have streamlined, trained and improved efficI envy during a tough economic climate. The tide is turning for O&G and for China and RG is now positioned to gain strong returns from it... The diversification into India could prove to be very lucrative also, would this have happened without the Chinese slowdown? This also keeps us busy during the slow winter in China... Still a way to go but I think from here it becomes slightly downhill.... Anyone else been collecting in the 2p range?
looks like its changing both here and GDG!!
Looking very good for GDL just have to get them orders in now.
Charts and recent news look very positive for a breakout at 4-6p? Just give us new contract news and boom. Net assets $50-60m and $100m of works scheduled for GDG.
Start selling when it hits news with new contracts and when bid and fireworks hit 8-10p not at 2. Bid now going to 3p!
That is the name of the game for the last few years. So credit due as we have survived and trained in that time, hopefully making us stronger. Did anybody hear some big cheese on the radio this week. Basically saying that we need to move from coal and oil ASAP and until we have a better solution then gas is the best option while we transfer. Also mentioned fracking and that it should be shut down now until we know the long term effects and that the Co2 produced is way over target. Sounds like he might have a few shares here lol. So it would seem that we are in the right place and possibly the right time. This could and this is just my opinion, could be big if we are lucky. Which is why we are all here. Let just hope they can keep the money rolling with some orders!!!
�8m Mcap for a company with net assets of over $50m? $15m contract just waiting for contract and over $100m of work scheduled for GDG in the next few years... Def its too low but need to see the cash coming in, if we can get mobilised for ONGC this winter and then hit the ground running in the spring for the Chinese then hopefully H1 next year will be multiples and EOY's should see us closer to 10p... The wait is nearly over one way or another...
currently price is now too low , we can see that things are significantly improving
Just need that big news to land in 6-12 months time and this should be in a very good position. Not saying we will win work but this time next year we will be very strong IMO. Fingers crossed but lining up nicely. GLA
Revenue of US$3.6 million (H1 2016: US$2.6 million), an increase of 38%. Recent China and India US$17 million contract wins will not show in the last accounts, but next accounts will be fireworks. Plus many new contract to come from China will see more fireworks! Randeep S. Grewal, Chairman and Chief Executive of Greka Drilling, commented: "I am very pleased to report a well-balanced performance in China and India. Our well-executed dual country strategy has been successfully implemented. The contracted services from both countries' state-owned enterprises CNPC and ONGC are recognition of the niche CBM drilling expertise and technology within Greka Drilling. The foundation is in place to expand from in years to come."
2 lots.
They are significantly better than last year but we need to see a zero on the end to start the ball moving here... Still need the ONGC contract and a big one from GDG....