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The main reason for the price drop is Blackrock have reduced their position buy some 5% of the total companies capital value just at a time when the Chinese market was soft. I think it will not take to long for a price correction back to $9.00 as Randeep the CEO holds about 65% of the stock so there is little free stock to trade. Good luck to you.

You are spot on they did double in within 6 weeks ! They are priced in US $ as they are based in HK

Coal bed methane (CBM) specialist Green Dragon Gas’ (LON:GDG) mid-and downstream operations have “significant growth potential”, according to Peel Hunt. “Rapidly increasing production” from its upstream business – which comprises interests in six production sharing contracts (PSCs) in China – supplies the gas to drive its other businesses, the broker added. “To give a sense of scale, only one of the six PSCs (GSS) is currently at an advanced stage of development; it already has 3P reserves of 1.3Tcf, which we expect to drive both reserves and production growth in the coming years,” said analyst Werner Riding. He kicked off coverage of the stock with a ‘buy’ rating and US$9.3 target price, more than double the current price of US$4.32, up 2.86% today.

Looking at the marketing activity generated by Green Dragon in the past few weeks coupled with the full line up of presentations to investors and managers over the next couple of months this stock price should have every chance to double by Christmas imo.

This is way over sold and with the results out next week is a fantastic time to get in at such a low sp

I think come September the latest results will show all is running well with a significant increase in gas production coupled with a new TGT of $17.00 this could be the last month to buy in at these low levels.

SP will be off with the new report confirming a now TGT price of $17.00

This will be a very important AGM for Green D as with a 50% fall in sp they will need to be saying some very very positive things ! I think they will.

This is a great business and it will just be an upward journey from this point. All the fundamentals are good and now its drill baby drill.

This is bargain basement time for this stock. If you have any spare cash its a sure way of making a 50% return in less than 6 months ! All 32 new rigs are now drilling and very soon ie Q3 we will see the results of this. For further information please read earlier posts.

Looking like itd coming back

This business has not changed since last month other than its now producing more gas and will do with a 20-30% growth each quarter as the new drilling rigs come on line. The additional 20 petrol/gas stations they have purchased are being finished month by month so all is looking good for a very strong second half to the year, This will be at $10.00 buy year end that's a growth on the sp of over 40%. This may not be a sexy business producing CBM but its solid and save,and that counts for a lot in this volatile world.

Green Dragon Gas, one of the largest independent companies involved in the production of CBM gas and the distribution and sale of wholesale gas in China, has announced that its total production in the first quarter of the year was 414 MMcf, a 34% year-on-year increase on the first three months of 2011. The company remains on track to achieve its previously-stated annualised production rate target of 18 Bcf following a discretionary capital expenditure programme. Output came entirely from the Shizhuang South (GSS) block, where Greka Drilling's LiFaBriC methodology applied to lined, faulted brittle coals continues to increase production rates.

http://www.reuters.com/article/2012/04/11/china-gas-cbm-idUSL3E8EJ6CY20120411

Nice one you bet me to it. I think this is bang on and this will be a pivotal year for GDG but we will need an operational update confirming the progress of the new drills and gas extraction and distribution rates prior to a sp move. We should get this in May with confirmation of the link up to the pipeline is made.

Annual results for the year ended 31 December 2011 Group Revenue increases 51%, Upstream Gas Production up 27%, 2P Reserves up 18% Green Dragon Gas Ltd (AIM: GDG), one of the largest independent companies involved in the production of CBM gas and the distribution and sale of gas in China, is pleased to announce its audited financial results for the year ended 31 December 2011. HIGHLIGHTS Financials * Revenue increased 51.2% to US$75.2 million compared with US$49.7 million in 2010 * Raised US$50 million through an equity placement at a share price of US$14.9 * Repaid a total of US$37.9 million from Sinoenergy, representing a 13% return (annualised) on an initial capital investment of US$34.7 million * Entered 2012 with cash of US$86.3 million Upstream – Exploration and Production * CBM Gas Production o Annualizedproduction exit rate for 2011 of 1.68 Bcf, an increase of 27% year-on-year (1.32 Bcf in 2010) o Annual production for 2011 of 1.5 Bcf, an increase of 150% (0.6 Bcf in 2010) o Annualized production target of 18Bcffollowing discretionary US$250 million capex plan * Substantial increases in certified reserves and resources: Reserves net to the Company o Original total gas in place of 25.5 Tcf o 1P, NPV10 increased by 5% to US$263.4m (43 Bcf) o 2P, NPV10 increased by 18% to US$1.8bn (307 Bcf) o 3P, NPV10 increased by 2% to US$12.6bn (2,513 Bcf) * 67 additional wells were drilled in 2011,a year-on-year increase of 131% o 53 of the wells were vertical and 14 were completed LiFaBriC wells o Drilling was focused in the GSS block at Shizhuang South with 53 wells drilled o 5 wells drilled at Guizhou (GGZ), 4 wells drilled at Qinyuan (GQY), 2 wells each drilled at Fencheng (GFC) and Panxie East (GPX) and 1 well at Shizhuang North (GSN) continuing the exploration program * A total of 295,289 feet weredrilled in 2011,an increase of 185% on 2010 o 62,096 feet of ‘in coal seam’ were drilled, an increase of 32% on 2010 o Longest in seam well was 8,173 feet while the shortest was 833 feet o Deepest well drilled was 5,936 feet with a total measured depth of 10,111 feet Midstream – Transport and Infrastructure * Wholesale gas sales of 2.8 Bcf, up 47.4% year on year * First commercial gas supply pipeline construction with initial daily transmission capacity of 2.6 Bcf expected to be completed in Q2 2012 to PetroChina * First 10 MW per hour power plant constructed and in service, adding the “gas-by-wire” option of gas sales to the state grid Downstream – Retail Gas Distribution * Beijing Huayou sales increased 16% to 12.2 Bcf in 2011 from 10.5 Bcf in 2010 * CNG gas sales in retail network increased 273% to 252.9 MMcf from 67.8 MMcf * CNG gas at our reta

I think very soon as Greka Drilling report tom and they are going to be very good reading IMO

Petroleum Economist • Posted Under: Company News Apr 05 Post to Twitter Green Dragon rides China CBM wave Independent cracks Chinese coal-bed methane challenge Damon Evans, SINGAPORE: Green Dragon Gas is positioning itself to ride China’s unconventional wave after unlocking what it claims are the secrets to success in the country’s fledgling coal-bed methane (CBM) sector. Following several years developing techniques to overcome the challenges posed by Chinese CBM, the London-listed outfit is on the cusp of being a leap forward in production. The Chinese-based independent expects to hit a production rate of 18 billion cubic feet per year (cf/y) by the end of 2013, up from 1.3 billion cff/y in 2011, as it ramps up its drilling campaign. For the outfit, which has been operating in China since the 1990s and is the only company still active from the original wave of pioneers, time is a crucial function of its success. The firm is no longer spending years developing technology, but is now deploying that technology more effectively. Gas production will improve as a results, Green Dragon chief executive Randeep S Grewal, told PEU. And while the recent influx of new entrants has perked interest in China’s emerging CBM scene, Grewal offers would be explorers a word of caution. Geologically speaking, new explorers will have to go though several cycles of technical development, just like Green Dragon, before they can start significant gas production. Generic off the shelf approaches will not work in China as extraction techniques have to be tailored specifically to local conditions, Grewal reckons. It’s the third time exploration companies have rushed into China’s CBM sector. This latest round has been spurred similarly by comparatively high gas prices, rising consumption and increasing transparency, all of which make for a unique environment that benefits the producer. Cracking the code Green Dragon bagged its first CBM contract in China in 1999 and snapped up average in the Qinshui basin in 2003. Whilst hightly prospective with high gas content, the geology of the Qinshui basin initially posed challenges with its brittle, heavily faulted coal seams and low permeability coals. Faulted seams make it more difficult to drill horizontal sections that stay in-seam, low permeability implies lower gas productive capacity, while brittle coals tend to collapse and plug the well bore. But, over the past eight years, Green Dragon has adapted its drilling ways to maximise production. After attempting vertical drilling, short radius and multi-lateral horizontal drilling, the company achieved higher and more consistent recovery rates from surface to in-sean(SIS) wells. Green Dragon now uses this method. And, it has developed its own advanced proprietary drilling technology manufactured in Italy, coined LiFaBric (Lines, Faulted, Brittle coal wells) Multiple markets Unlike other fuel

Credit Suisse’s Gives Green Dragon Gas Outperform Rating Posted Under: Company News Mar 30 Credit Suisse Group AG, a Swiss multinational financial services based in Zurich, has given Green Dragon Gas (GDG.L) a rating of “Outperform” upon evaluation of the company’s Q4 earnings. This decision sets a target price of USD 15.10 per share, placing it at a potential upside of 62%. The reason for the OUTPERFORM rating comes from the growing importance of unconventional gas production in China, particularly from the domestic sphere as the Chinese government begin exploring alternatives to the current expensive importation of natural gas. CBM, or coal bed methane, is considered a source of unconventional gas and is also the primary focus of Green Dragon Gas—itself already considered an industry leader in exploration, acquisition, and distribution. Green Dragon Gas is a vertically integrated CBM company that operates exclusively within China through its six production sharing contracts (PSC) with the first PSC on the very edge of production drilling/ramp-up.

Looks like there after our shares again,well they are not having mine not with two weeks before they repot a bumper set of figures,in fact I will buy and top up at $9.50 as long as the bank manager will let me !