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Thank you very much for the very clear update. Really positive, as I thought, for the future.
Few pointers from yesterdays AGM yesterday for those interested. - ESSAR hold up is based on they not paying up the $1.6m additional sum accrued from the add ons of the last contract. RG is holding out for the money owed before he does anything further for them. Essar own deadline to get the works started is by next March/April so hopefully they will get their act together soon. - ONGC hold up is due to a BOP filter we have had to order new from the US as it was part of the agreement even though RG has said its not required but ONGC still want it so to get the deal RG accepted and also to get the foot in the door as such. likely to start work in the next month or so. ONGC already talking of incremental contracts. - GDG lifabric contract unlikely until next summer. GDG are currently working on a an IPO & RBL totaling $400m. which will sort out debt and some cash to get works done. however we are currently drilling for GDG and work should complete by April. - CNBC, we currently using 5 rigs in china (couldn't remember if it was CNBC+GDG on that count) and will also be moving in to other acreages for them too so plenty of work there to do for CNBC as we know. - facts - we almost make twice the profit drilling directional drills than we do when drilling verticals given our speed & tools. cnbc/ongc, just because they are state owned, they dont necessarily pay on time. usually a 4 months lag according to RG so doesnt help gdl at present with a small working capital but going forward when we have more work and money coming in all over, this can be maintained better as we can role out more rigs per job and bash them out quicker whilst also saving money on management of rigs per job as u wont need as many people. come next year the intension is to have 15 rigs up and running... 5 for CNBC. 5 for GDG lifab & 5 in india. on the whole RG emphasized how the drought is over and the work is coming in with greater push in CBM in both china and India and given our setup we are placed very well. he did say it feels like 2008-9 again where a lot of working was coming in and available. Anyways...lets wait and see what happens in the next 6-12 months at least. hopefully future is bright as it almost feels with the push on CBM. hope that helps...
We are already drilling for GDG
Good to hear, was there anything mentioned about GDG contracts?
We will be starting the drilling for the ONGC contract before year end
Hi Mr Chow, yes any information would be welcome. And if you post any just ignore Clown Trion and his small jibes!! Thanks
Hi MrChow Any information from todays AGM that you would be happy to pass on would be greatly appreciated, unfortunately (fortunately) I only just returned to the office after 2 weeks off and couldn't get the time off to attend today. Cheers James
Very positive AGM will be putting some more money into this in the next few weeks. Looks like India and China are putting a lot of focus on gas coming out of their ground
Got the attention of somebody then , ( Nasty old Roobans the fairy god mother ) as l said l have made my point . lm of to lick my wounds , & count my losses . But , l still cant help wondering if anybody will attend the A.G,M. though, Roobans wont his going next year } Just as well the mood his in !!!
Possy it looks like you are replying to the imbecile who has obviously lost a lot of money on GDG... I filtered his ranting BS a long time ago and I suggest you do the same.. He hates any thought of anybody doing well where he has so dismally failed, we all know the past issues and some even predicted them but there is a bottom here and GDL have already hit it... It’s only up from here, could be a little, could be a lot but at least we are no longer fully reliant on the Chinese unlike big brother!
G.D.G. & G.D.L are run by the same ceo & chairman Radeep Grewal , so are connected . ( l really should not have to be explaining that to anyone ) lts the facts & the truth l want , dont you ? & the truth hurts sometimes. But your right , l have had your attention , & l have made my point .!!!
So your not invested here, and haven't been for many years? So why are you on here mate? This board is for investors not rampers. Ether put some money in the pot or keep to the boards you are invested in. Because what you peddling here is not wanted thanks. If it's attention you crave then find it else where. Ta
Dont be a silly billy !! Just do what YOU said you were going to do !! & then report back to your fellow investors !!
So you haven’t spoken to him! Lol
Or , attend the A.G.M. like you said you were going to , & ask Mr.Grewal himself. ( about everything ) !!! lm sure everybody would be most grateful to hear what he has to say about his companies , to your face !!!
Do your own research ! Speak to - mark.downes@arden-partners.com or steve.wassel@arden-partners.com
Trion what did Tim Redmond say to you about GDG?? When you spoke to him?
Sold my shares in G.D.L. years ago fortunately, but regrettably still have some in G.D.G. which l brought averaging down, still believing in G.D.Gs cbm gas assets in China (more fool me ) & it probally would have been successful with a proper board of directors. Even Mr. Grewals Chtef Accountant Tim Redmond jumped ship a few months ago because of the way the company was being run !.. My earlier post (inspiration) was taking the rise out of ( G.D.L. posters ) by the way ! You all helped me retain my sense of humour with these poxy shares ! l live to far away to attend A.G.Ms. & anyway would not waste my money now travelling to hear Mr. Grewal lie about his Companies promises as im quite sure you lot wont !
Trion are you going the AGM or have you ever been to one?
If any of you do attend the A.G.M on Wednesday 1st Nov. ( l can,t imagine it ) Do remember to ask Mr. Grewal about the Chinese bank fundind to pay for more lmmediate promised drilling by G.D.L for G.D.G. l daresay he will probally come up with another load of old baloney though . What a joke his companies are.
Sounds like someone needs a hug? Or are you just trying to keep balance on here. The words "hope" and "fingers crossed" tend to point to a certain doubt of it happening, but a deep routed wish for it to happen. This will rise slowly no doubt about that! But a HUGE rise, do you really think so Trion.......................I think you are wrong sir.
Another good RNS from green dragon gas! Sorting the debt out moving forward
Hypno reckons the spread is holding back investors,& possywaves is keeping his fingers crossed hoping for a HUGE rise. ( Please tell us your both Joking ) C,ant make this years A.G.M., but will definitely be at NEXT years , threatens another G.D.L. investor ! ( What about the year after that Roobans) Did anyone attend the A.G.M.yesterday 26th Oct. asks another investor , until a kindly chinese gentleman quickly spots Clox mistake . Lets hope Clox remembered to put his clocks back Sunday morning , otherwise he will miss Wednesdays A.G.M. & make himself look a right CLOKS
Who is going? Cant make this year but will def make the trip back for next year if we dont see some real action soon...
My mistake, thank you