Member Info for Crash2016

27th of Jan 2015 13,442 man-hours of training were conducted in China H2 2014, and a total of 21,291 man-hours in 2014 6,764 man-hours of training conducted in India during H2 2014 Once again all these hours spent on training. Was all these hours spent on GDG acreage? I mean you would need to do the training in real time on the field like you would in a real life situation right? very very very interesting. Funny I've never seen it mentioned before? Nobody ever though that thousands of hours of training was a bit strange? year in year out more training than actual contracted drilling?

24th July 2015 Ops update 20,721 man-hours of training were conducted for Company staff in China and India during H1 2015, a 137% increase over H1 2014 (8,752 man-hours) Greka Drilling continues to emphasize training, with 27,624 man-hours of training conducted in 2015 for staff in China (2014: 20,266 man-hours) and Indian crews were brought to China for training in drilling LiFaBriC wells. In theory that could be 5 rigs, two men per rig for a full year. With the record times the RG has gave for drilling that could easily be 60 wells per year? more? very interesting.

Great movie but not what we are about to discuss. What we are about to discuss is the huge amount of time GDL spend training the crew: 5th of Feb 2016 Ops update highlights the following. Greka Drilling continues to emphasize training, with 27,624 man-hours of training conducted in 2015 for staff in China (2014: 20,266 man-hours) and Indian crews were brought to China for training in drilling LiFaBriC wells. In theory that could be 5 rigs, two men per rig for a full year non stop. ie, the weekends too. I wonder if the GDG wells provided good experience?

You show your naivety once again. The rigs GDL use can and do drill conventional. The USP for this co was the alleged proprietary technology. The rigs used are standard rigs with modifications. They can drill conventional all day long, 24/7 - 365. They simply never do. Well, I say that but what if they were a lot busier and by all account they are? Do you think that could be possible? I mean all this training? It is actually being done on the GDG acreage yeah? GDL just don't get paid for training the crew? All those hundreds of hours spent drilling ? It makes you wonder? Have they been training the personal on GDG acreage for what...5 years now? They must be amazing by now or GDG getting a lot of ....erm....drilling and workovers done by the ever fresh and up to date drilling team. Good experience for GDL drill team but no good for GDL investors. Kind of GDG to let them train on their wells.

You sound like a bit of a guru: I have not interest in playing games with you. I asked you some questions regarding the proprietary technology and first mover advantage. You declined to be honest. I'll observe.

The Seller is still here or you would have had a holdings rns to advise you that the seller has gone below 10% They still have approx 50 mill to sell. This will take months to clear.

Question 1) Why is GDL trading at 3.13p if it's such a good company? Question 2) Do GDL still claim to have first mover advantage 5 years after they made that astonishing claim? Question 3) If the answer is no to the question above then what's the USP here if not it's alleged proprietary technology? Question 4) if you can answer the first 3 truthfully I will present you with another 3 questions which will help us all get to the bottom of this a lot sooner.

I recall you being very bullish some years ago as were most on this thread, I also recall you changed your stance when the fundamentals started changing and the delays on contracts and test wells etc. You started trying to advise people that not all was well as did jacka and one or two others. You got little thanks for that I recall. That's what people don't grasp. There was indeed an investment case here in 2012-2013 but within 6 months of 2013 it started to crumble and it was very obvious what was going on. Guys like JH, Jacka and a few others took a beating from the RG worshipers on this very thread and I must say it was because of guys like JH and Jacka that I was able to preserve my cash so I send thanks to those guys.

Spot on and he was offloading when things were meant to be going great. It stinks but it looks like the long term holders here don't want to admit it. There is no institutional backing here, there is no trust, there is no investment case and this has been on the cards for some time. Wait till the results for the first 6 months of 2016 are released. You will see what I'm talking about in terms of share price being 0p. Todays 3.5p? this will be a fractional share price within 8 months. You were told at 16p what was coming, your being told again at 3.5p what is coming again.

Anyone who has done any research on Greka world wide will know all they need to know about RG? There is plenty of evidence to suggest the drilling of GDL is badly performing. Will GDG investors care? No. Your logic for investing is based on a psychological profiling of GDG investors? Well, that's just nuts and it's also wishful thinking. The problems with GDL are many fold? yes, I know, I've been telling you that. Is the Methodology used in the drilling of wells special? No, I've told you that too. The 3rd party contracts have told you that. The CNPC test well has told you that. The fact GDL is drilling for nobody of any note tells you that. Just because RG got his shares for free doesn't mean they are of no value? They are certainly not of any real value are they? what does he stand to lose? how much of his own cash has he invested on the dips? how many times has he put his hand in his pocket over the last 5 years to by some cheap stock? Trust me, he stands to lose nothing but does stand to gain more in other ways running GDL they way it's ran. The balance sheet shouldn't look too bad? is that the investment case? Park your cash here cause the balance sheet won't be too bad plus they can go in to cost saving mode? Well, there are hundreds of companies out there generating profits with healthy balance sheets who are investing in growth. How stupid do you think retail investors are that they will buy a stock because the balance sheet won't look to bad and the might start cutting cloth? The last RNS more or less said the first half of 2016 will be non existent. I said it before and I will say it again. What happened to the transformation 2013 share price? What happened to the transformation 2014 share price? What happened to the transformation 2015 share price? Has it all be delayed to the transformational 2016 share price? It's one thing try and fool the punters reading these boards but it's another to fool yourself. There is no investment case here. There is no prospects of things changing anytime soon. It's quite simply a finger in the air to suggest that something positive might happen here as there is simply no evidence to suggest that's even possible. Ask your self this...How does GDG using GDL less and less affect GDG's balance sheet when they are reporting an increase in CBM production? How does GDL's balance sheet look? which company benefits from this? I'll give you a clue. It's not GDL.

It's the other way around. GDG is the performer not GEL or GDL. Everyone used to look to see how GDG was doing to benchmark their GDL or GEL investment. You take GDG away and there is nothing left for GDL or GEL. Nobody invested in GDG cares less about GEL or GDL, They mean nothing to GDG other than they are loss making parts of the business they got rid of by way of spin offs.. The intelligence level of investors here tells me the previous Pro GDL crew were very persuasive. If anyone he speaks of potential they clearly have no clue of what's gone on over the last 5 years. Please, do some solid research and as one other poster has mentioned do some background on RG in the US. Then come back and tell me he would not be willing to screw investors as you called it.

I'm not anyone of any note. I'm just telling you and anyone interested of the long and short of things here over a 5 year period. You could be as positive as you like which is your right but I'm, afraid your only kidding yourself. It's all there in black and white what's gone on here. Every single detail you need to support the investment case here is in black and white and when under scrutiny none of it stands up. There is no effort and loyalties from Randeep in building GDL...Do some research and you will see exactly what I'm talking about. The same with GEL. 1500 wells drilled for GDG by majors who know a thing or two about drilling tells me there is very little for GDL and GDG are rubbing there hands at that fact. GDG still all the luxury of GDL being on hand without any of the cost. GDL bear that on their accounts not GDG ie a balance sheet company. Understand that and you understand everything.

Very true none of us knows what goes on behind closed doors but what good is that to share holders? what good is that to the company? why list on the stock market? The whole idea about investing is transparency and being able to make an informed decision based on the facts avilable. When companies are keeping things behind closed doors for 5 years without ever producing shareholder value then I'm afraid that's no good. It also means being able to make an informed choice is impossible. If 5 years worth of failure isn't enough to convince you then I wish you all the best in your trading/investing. I'm not saying nothing in anger, it's said with a clear objective mindset. I have no position here and do not seek one either. I'm giving my honest thoughts on what I've witnessed over the last 5 years with this company. As for RG being a stupid man, No, au contraire' He's a very clever man and i'm afraid that if you think his level of intelligence is going to match his morals your mistaking. RG has made it very clear where his loyalty is and with which one of his companies. GDL is a freebie to RG and able to take on the costly aspects of the O&G game. Like I said before it's a balancing act also known as a balance sheet company. GDG no longer need to pay drilling 100's of personnel, maintenance, buildings, living accommodation, down days new rigs and any of the costs associated with running a drilling co. You've never seen the T&C of a contract between GDL and GDG. In the admission document it's more or less down to desecration and the punter never gets to know what's really going on. How do you know GDL are not going flat out on GDG wells but GDG are only paying for a % of them and no reporting them via RNS? How do you know that every well GDL drill is reported to the investors? nobody does. It's far to east for manipulation under the current setup. How many companies have GDG employed to drill in the last 5 years?. how many wells have GDG drilled minus the 1500 the Chinese major drilled for them? By all means hold till then end it makes no odds....I don't think the end is with them going bust but just simply continuing to be a balance sheet company. RG can't raise funds unless he puts the money in himself, will he do that? only if it made sense for him he would but then it will be some deal where GDG loan them money for x amount of wells and the game continues with GDL never making a cent. One more fact for you is where are all the rampers gone? all the believers? they were here in force and never withered for years? They have given up hope too, they now realise that what was said a couple of years ago by certain poster was indeed correct. Time is the greatest tool on the stock market. Good stocks mature over time and bad ones highlight all the failures over a certain time frame that just can't be argued with..

Sorry to hear of your losses and I hope you recover them. I don't think many investors made money on this one because even all the long termers bought at between 18p and above. That means they would have had to average down which again means the lost even more. That CNPC RNS you refer to in 2012 was the catalyst for the huge rise that took place in 2013. Also the Sinopec deal for 100 wells. They two contracts were what created the rise and the hype and it's the failure of those two contracts that GDL finds itself where it is now. The India contract was disaster before it began and never really featured or got any market reaction due to the two previous contracts being swept under the carpet. It was quite clear the sentiment surrounding this co was at a low and getting worse. The promise of GDG well to work on for GDL means nothing in all honest, the market can't invest on a in house project and that's all it is. Any company worth it's salt need to have a customer/client base and GDL have neither. GDG is not a customer and therefore GDL is not investable. If GDL had a list of clients they were doing work for and who were happy plus getting odds and sods from GDG the share price would be transformed but the reality is who would give GDL contracts? Nobody. CNPC, Sinopec have their own drilling rigs and teams and are global...why would they need to use GDL? They simply don't and time has proven that to be true. This cutting edge tech was alluded to be cutting edge 10 years ago in 2006 by Pace. This first mover adoption giving GDL an 18 months head start on competitors has gone years ago. All this hype was spun out on this board by the long termers but can't possibly be believed anymore. There is no first mover advantage which was claimed in 2012-2013 even if it existed which it didn't back then it's now been 3 years and what has changed? Any unique selling point they had in 2012 (they never) has gone and it leaves them now as a small time drilling company with no clients other than the company they were spun out from. The problem there is that company (gdg) just had $500 mill capex on drilling doone for them. They don't need to drill for years and any work-overs will be minimum in a reality..RG won't tell it like that but that's the deal. That is not an investable business, it never was but investors were all lead to believe it was.

Good luck with it and I hope you don't lose out. Never trust a word that RG says though. Not once has he delivered, not once in over 5 years and I can't see that ever changing. RG and his PR team mislead investors on numerous occasions imo. When challenged the PR team agreed the terminology used on numerous RNS's was incorrect and misleading but done nothing to rectify it.

Had GDL proved the tech worked external contracts would have been flying in. More riogs would have been needed and the offers of a buy forth coming. The CNPC test well would have won GDL thousands of wells and numerous contracts and the company would be worth many many times today's market cap. GDL used and then copied the methodology from another company they partnered with before the spin off of GDL and made one or two small changes and then claimed it as their own methodology. The method is currently being used all over Australia and Asia by other companies and GDL have nothing magic in what they do at'all. The cutting edge tech they claim to have is not cutting edge. They claimed this in 2011 and are you telling me they are cutting edge in 2016? are you telling me that in over 5 years nobody has bettered what GDL do and that they have all had to concede and adopt the methodology that GDL call proprietary? So GDL must be coining it in then? NO, it's rubbish. GDL have nothing that any other O&G exploration company has and I would go further and say the rigs they have are inferior to the beasts that reputable O&G companies are using today. These rigs were designed for small drilling projects and don't have the capacity to drill to the spec of the real rigs the other O&G co's use. The bottom line is the tech has been proven to be of no use. Hence nobody adopting it in over 5 years.

I'm sure Mr Hill if he's still around or is it Betty? I'm sure they will enjoy reading the comments....not. Not sure what you expect them to say other than they don't respond to BB conjecture. Look you need to be realistic and stop fantasising about GDG holding the key to the door for GDL. Everyone realised that's not happening when all those wells got drilled on the GDG acreage. GDL has appears to have been used as a balance sheet company for GDG. You say RG owns a large amount of shares? How did he get them? You mean he paid for them in the open market? He bought then in a round of finance? or he gave himself those shares? Which one is it? because the answer tell the story of what GDL is worth to him. GDG is where the money is for RG. Not GDL, or GEL. BY spinning off GDL and GEL he got rid of all the rubbish and was able to focus on the the jewel in his crown. In GDG he has real assets, ie resources of $billions of dollars worth. In GDL he has some mini diggers and a crew to operate them as and when he needs them. 1500 wells were drilled on GDG licences and RG was delighted. The GDL rigs are now only good for little work overs as and when RG feels he has a use for them but with 1500 wells drilled by more than capable companies like CUBCM, Sinopec etc why on earth would he need to worry about GDL? That 1500 wells were done to the tune of £500 mill in capex. GDG do not need to spend another penny in reality to coin it in for RG: It would take him years to assess and extract the resources from so many wells or at least the ones that are producing. Make no mistake, RG is no fool and he's doing what's good for him and no one else. GDL don't come in to it in any shape or form.

NO, all these companies were ramping up investment in 2011, 2012, 2013 and 2014 after oil crashed in 2009 At the tail end of 2014 Oil starting it's downward cycle it's currently enduring and this my friend had nothing to do with GDL and it's ability to win external contacts. Why did Sinopec sign a 100 well deal in 2012? Because they were ramping up production and exploration. Why did CNPC agree the test well with a view to 1500 to 2000 wells being drilled if the test results were satisfactory? Because they were ramping up production and exploration. Oil was over $120 boe at the time. Please don't insult my intelligence by claiming that 2015 had anything to do with previous failures of this company. The share price of GDL in 2012 was 5p at it's lowest point. Might I remind you at that point in time Oil traded between $120 and $100 boe during 2012-2013. GDL share price boomed on the back of the 100 well deal awarded by Sinpopec and the test well from CNPC. That's the bottom line, there is nothing more to say on that as that is 100% fact. The decline in the share p[rice came about when there was a delay in obtaining any update from the CNPC test well which was estimated to have taken between 90 and 120 days to allow for De-watering etc. At that time it was thought by April 2013 or possibly even May 2013 GDL would have concluded the test well and obtained the larger order of 1500 to 2000 lifabric wells which would have lifted the share price into orbit. The complete opposite happened and fine well you know that because you were here and being very vociferous about that. No news on that Test well was the start of the decline and then it became appraent that GDL were not drilling on the 100 wells for Sinopec and the share price declined further. it was those two contracts that changed the landscape for the better in 2012 and it's those two contract coming to nothing that sent the share price right back to where it was at that point in time in 2015. The share price would have got back to 5p a lot quicker than it did had it not been for the jawboning on this thread by the well known poster who appear absent. The India contract was never going to happen and sending 5 rigs to drill 100 wells in less than 6-9 months was impossible and so the BS rn's became more frequent and more laughable as was the dream they were ever going to list GDL on to the SGX which was the signal for expansion into Singapore. All very well though out BS. Look, you can try and paint it all in a different but that little snippet of info the the long and short of this failed company. Just a shame it's taken the best part of 4 years to play out.

Nobody believed the share price would be here either. It doesn't matter what you believe, it's events that dictate and look at the events to date. You can keep on talking about the future or you can analyse the here and now? I deal in facts and the facts are this has much further to fall.

Been reading them since 2011 mate. what's changed? what new? what's the share price? Like I said, go back and read over the RNS to see the blatant contradictions.