Last checked at 15 Oct 2020 10:25
15 October, 2020
G3 EXPLORATION LTD.
("G3 Exploration", "G3E" or the "Company")
Suspension of Listing
Effective immediately, the trading of shares in the Company shall be suspended.
Due to the Covid-19 travel restrictions to China, the Company auditors have been unable to conclude the annual accounts till date. As a result, under the required Listing Rules, the Company has requested the suspension of its listing until such time that the accounts can be published. When such accounts can be audited and published, the Company will request the exchange to continue the trading of its shares.
About G3 Exploration Ltd.
G3E is a leading independent gas developer with operations in China and is listed on the main market of the London Stock Exchange (LSE: G3E). The Company reserves across eight production blocks covering over 7,566km² of license area in the Shanxi, Jiangxi, Anhui and Guizhou provinces. It holds six Production Sharing Agreements with strong, highly capitalised Chinese partners including CNOOC, CNPC and PetroChina, and has infrastructure in place to support multiple routes to monetise gas production.
The Company is committed to an exploration and appraisal focused business plan in coal bed methane development across three geographies concurrently. It has a well-established track record and demonstrated expertise in gas monetisation through three basic principles:
· Focus on core intellectual aptitude in developing coal bed methane
· Develop assets in an environmentally and socially prudent manner
· Protect accreted shareholder value