Member Info for Themerlin

Investor have yet to catch on they are owned in the same group.

Back to the £10.00 mark by year end for sure now. ££££££

It may take a few days for the market to digest all the information but when they do $$$$$$$$$$$ Highlights: · Interests of GDG and CUCBM now aligned with both companies to work together in order to maximise the value within the PSCs which continue in full force and effect · Secures interest and revenue share of the approximately 1,600 wells drilled by CUCBM in line with PSCs · CUCBM committed to invest a further US$100 million into GSN in return for an additional 10% working interest (in addition to an estimated US$100 million invested to date) · CUCBM committed to ongoing cooperation with GDG with full information sharing across wells drilled on PSCs and all local assistance · PSC exploration terms extended for a further 2 years · GDG expects US$250 million additional investment in GSS from CUCBM The Chinese government have now officially partnered with Green Dragon Gas and have confirmed they will be spending several billion over the coming years in the further development of these gas fields.

Great news for all the group companies !

O well

I would rather the hours as it's got under my skin now,but could just about hold on to Easter ! With all that's been said over the past couple of weeks I think its the real deal now. Fingers crossed now not required !

Benefits within first quarter !Today 09:12By Philip Whiterow 21 January 2014 Unconventional gas supplier Green Dragon Gas (LON:GDG) has seen production surge due largely to the activities of third party drillers on its acreage in China. Total gas production for 2013 including third parties was 7.19 billion cubic feet (Bcf), a 304% increase over 2012's 1.78 Bcf. The company had already indicated its 5 Bcf target would be exceeded. Of that, Green Dragon’s own production rose by 11% to 2.9 Bcf. In the last three months, standalone gas production rose by 1.5% to 772 million cubic feet (mmcf) quarter-on-quarter. The company is currently carrying out a financial audit of all of the activity undertaken on its licences and is in talks with third parties over the receipt of technical and operational data necessary to complete this on all of its acreage in China. Production from third party wells already reviewed by Green Dragon exceeded 4.40 Bcf in 2013 and the company expects to conclude the related net economic benefits from these within the first quarter of 2014. THATS MONDAY !!

30 did mean something but I uggered if I can remember what !

Thanks smiffy for taking the time to work the numbers. Good stuff.

So what's the contract worth any thoughts ?

Yes very and autos as well. Is there more to come,if we see a continuation of buys there may be news to follow.

Looks like we may have lift off !

It works testing 123 Interesting but what does it mean in cash terms

It's on the GDG web but you have to email the broker on the link for a copy. (It's under financial reports)

Last week, we visited an area within GDG’s licences that has been subject to third- party development and production of gas by several of China’s state owned enterprises (SOEs), including CNOOC, CNPC, PetroChina and CUCBM. The extent of this work is considerable. Our trip enabled us to visit multiple producing well sites that supply the integrated production facility (IPF) in the core area at GSS that has been developed by GDG. In addition, and arguably more importantly, we also had the opportunity to visit a separate area in the south of GSS, which has been one of the areas of focus for the SOE activity and where several hundred wells and associated infrastructure have been installed. Although we were unable physically to visit every third-party well site (there are c1,500), from what we saw we believe it is likely that the data received so far by GDG concerning the activity carried out by the SOEs will result in material new production, revenue and reserves net to GDG. The exact quantum, and how GDG will benefit from the economic uplift, are yet to be established; however, given the support from the PRC for the validity of GDG’s PSCs, we find it difficult to see how the outcome for GDG will be anything other than positive. Valuation and recommendation: Although guidance on net reserves and incremental production data covering some of the reviewed wells has been provided, we do not yet have sufficient data on the third-party activity or on how the benefits of this work will flow back to GDG in order to factor it into a revised valuation. However, what we can say with conviction is that we believe in the coming months Green Dragon will be a net beneficiary of the work undertaken by the SOEs, with a strong chance that it will be materially NAV- and financially accretive for the business. We reiterate our Buy.

(GDG) Site visit confirms scale of third-party activity Last week we visited Green Dragon’s GSS block, and our overall impression of the work done by other operators is that it is considerable. Specifically, we visited the southern part of GSS and observed tens of the many hundreds of wells that have been drilled within GDG’s PSC area, along with the extensive gas gathering and export infrastructure that has been installed to produce, export and sell CBM gas from the area. We reiterate our Buy recommendation and 369p target price.

Sea of blue !!!! All coming together very nicely now and GDL to follow !!

I belive after the presentation this week investors will start to understand the waters that were mudy have now started to to run clear ! The opportunity to now get back on tract and make some serious money have returned. GL

Thanks,its been a long and painful journey but we are almost there now ! Big rewards for anyone entering at this current SP.

In early 2011, CUCBM said it was ending Green Dragon’s five production sharing contracts (PSC), including at the producing GSS block, a decision that could have essentially ended Green Dragon’s China business. CUCBM management reportedly thought Green Dragon was moving too slowly with exploration and development. Green Dragon stood its ground, arguing that it had fulfilled its commitments at the blocks and CUCBM did not have the authority to void its licences. It took its case to the State Council, China’s top decision-making body. But as the dispute rumbled on the company’s share price fell from over £8 ($13.20) a share prior to the announcement, to as low as £2 a share in early 2013. Then in July last year Green Dragon and its investors got the news they were hoping for when the State Council rebuked CUCBM and confirmed the validity of Green Dragon’s licences. It was a rare example in China of a private foreign investor winning out over a powerful state-run company. Green Dragon credits the strength of its PSC for the decision. It signed its deal at a time when the Chinese government was especially keen to bring new investors into the fledgling CBM sector and was offering far more attractive terms than those granted to companies who entered the country in subsequent years. Crucially, Green Dragon is registered in Netherlands, giving it the protection of a Dutch-Chinese bilateral investment treaty and the option of settling the dispute in international arbitration.