Member Info for Jarv55

Can see this moving higher this afternoon

Oh my they must feel sick

https://www.tellingsense.com/blog/interview-with-billionaire-randeep-grewal-founder-of-green-dragon-gas/

They use this a collaterol
b. Sale of sufficient equity for cash in wholly owned Green Dragon Gas so as to pay off creditors in full and have additional liquidity. Heads of Agreement with interested party is expected in the near term. A recent report, conducted for the RBL in October, valued the producing Green Dragon Gas, GCZ and GSS blocks at $485millon (1P) and $1.3 billion (2P).

Notwithstanding these legal proceedings and the appointment of Receivers on 21st October, 2019, the Company continues as a going concern and has maintained its operations and remains committed to re-structure as follows:

1. Pay its Secured Creditors (Nordic and GIC) in full through either:

a. A Reserve Based Loan ("RBL") of c.$200m through the Green Dragon Gas producing assets. Active discussions to conclude such an arrangement with a bank is underway; or

b. Sale of sufficient equity for cash in wholly owned Green Dragon Gas so as to pay off creditors in full and have additional liquidity. Heads of Agreement with interested party is expected in the near term. A recent report, conducted for the RBL in October, valued the producing Green Dragon Gas, GCZ and GSS blocks at $485millon (1P) and $1.3 billion (2P).

2. Following above execution, dividend Green Dragon Gas to the Shareholders.

3. Continue as an Exploration and Appraisal company specializing in Coal Bed Methane.

Mr. Randeep S. Grewal, Chairman of G3 Exploration commented, "Over the past two years, we have worked cooperatively, and constructively, with our Secured Creditors on each of our initiatives to repay the debt due and look forward to doing so with the JPL.

We strongly encourage the appointment of JPLs so as to expedite a re-structuring of the company for the benefit of all stakeholders, which would enable the company to continue to deploy its technical expertise in the development of complex CBM reservoirs globally and continue as a going concern."

They have 5 years worth of back log projects
G3 Exploration looks at reserve based loan to kick-start restructuring
2019-09-30 14:39:00
“The most advanced of these, the Guizhou exploration block (GGZ), is expected to commence test gas sales before the end of this year.”
G3 Exploration Ltd - G3 Exploration looks at reserve backed loan to kick-start restructuring

G3 Exploration PLC (LON:G3E) is examining a US$250mln reserve-based loan (RBL) as an option to refinance its balance sheet.

The China-focused gas group says this became an option recently following field development approval and an experienced bank has been appointed to move an RBL loan forward.

A US$250mln loan would enable G3 to pay off its inter-company debt and carry out the spin-off of production subsidiary Green Dragon Gas through a dividend in specie.

That would leave an exploration arm, where G3E has invested approximately US$270mln on its portfolio which it estimates has a 2P/mean value of over US$816mln.

“We are eager to focus on this portfolio and systematically migrate this portfolio into commercial production and thereafter farm-outs or sales,” said Randeep Grewal, chairman.

“Each of these transactions should provide shareholders with a dividend. Our current portfolio in China provides a solid five-year backlog of projects.

“The most advanced of these, the Guizhou exploration block (GGZ), is expected to commence test gas sales before the end of this year.”

Revenues for the half-year to June were US$11mln (US$13.7mln) with a net loss of US$7mln (US$6.3mln).

mms doing a sterling job of fishing for shares

Filling a buy order back up again

Sp is share price

Every dip is being bought mms took it down they should let it rise back up

-7-GDG Overview– H1 2019 Financial Achievements-7-STRICTLY CONFIDENTIAL & PROPRIETARYSUBJECT TO CONFIDENTIALITY AGREEMENTSRevenueU$11.0 millionEBITDAUpstream BusinessU$7.2 millionNet ProfitUpstream BusinessU$4.2 millionSales PriceGCZ $9.2/McfGSS $8.9/McfNet AssetsGDG - U$342 millionG3E – U$621 million

Draft it was over sold its risk is they have to sell assets to pay back the bond holders but assets are worth a lot more read the presentation

listen to the video
https://www.youtube.com/watch?v=TGWW_3oajuo

http://www.g3-ex.com/~/media/Files/G/Green-Dragon-Gas/reports-presentations/g3e-interim-results-october-2019.pdf

As of 31 December 2018
Shareholder Shares % of shares
GDGH Ltd* 87,169,631 55.85%
Mandolin Capital Pte Ltd 36,031,759 23.09%
Aberdeen Asian Smaller Companies Investment Trust 8,641,851 5.54%
GIC Private Ltd 5,775,578 3.70%
Platinum Asset Fund 4,207,051 2.70%
FIL Investment Management 3,592,181 2.30%
Guaranty Finance Investors LLC 3,544,641 2.27%
Sloane Robinson LLP 2,072,291 1.33%
Morgan Stanley Wealth Management 1,064,066 0.68%
Deutsche Bank Private Wealth Management 655,613 0.42%

GDGH Ltd – Randeep Grewal is beneficially interested
Director & Related Holdings

G3 Exploration looks at reserve based loan to kick-start restructuring

2019-09-30 14:39:00
“The most advanced of these, the Guizhou exploration block (GGZ), is expected to commence test gas sales before the end of this year.”
G3 Exploration Ltd - G3 Exploration looks at reserve backed loan to kick-start restructuring

G3 Exploration PLC (LON:G3E) is examining a US$250mln reserve-based loan (RBL) as an option to refinance its balance sheet.

The China-focused gas group says this became an option recently following field development approval and an experienced bank has been appointed to move an RBL loan forward.

A US$250mln loan would enable G3 to pay off its inter-company debt and carry out the spin-off of production subsidiary Green Dragon Gas through a dividend in specie.

That would leave an exploration arm, where G3E has invested approximately US$270mln on its portfolio which it estimates has a 2P/mean value of over US$816mln.

“We are eager to focus on this portfolio and systematically migrate this portfolio into commercial production and thereafter farm-outs or sales,” said Randeep Grewal, chairman.

“Each of these transactions should provide shareholders with a dividend. Our current portfolio in China provides a solid five-year backlog of projects.

“The most advanced of these, the Guizhou exploration block (GGZ), is expected to commence test gas sales before the end of this year.”

Revenues for the half-year to June were US$11mln (US$13.7mln) with a net loss of US$7mln (US$6.3mln).

https://www.linkedin.com/in/robert-ireland-420364100/

Don't think anyone's been shorting it ff is small.

https://www.slinvest.co.uk/us-life-settlements/

JOHN you were right I **** the bed on this one not

https://invst.ly/ovtej