In an exclusive in-depth interview with London South East, Executive Chairman of G3 Exploration Randeep Grewal told us that he hopes to be able to pay the dividend in specie to shareholders shortly.
G3E is raising a 'Reserve Bond Loan' for up to $250M from an unnamed bank. This has become possible after the Chinese Government approved the Overall Development Plan for the two producing assets, allowing it to be used as collateral for a bond. Mr Grewal indicated that it remains his intention to IPO Green Dragon Gas although it may not happen in Hong Kong.
He said that G3E is ecologically sound: "We are a pure clean energy company and have only one focus, to take that methane molecule, flip it into clean power and to be able to get the cleanest source of power you can get your hands on."
G3 Exploration (G3E)