9 Apr 2014 07:00
9 April 2014
Greka Drilling Limited
("Greka Drilling" or the "Company")
Guangdong Bureau of Coal Geology Contracts Greka Drilling
on the Hunchun Project in Jilin Province
Greka Drilling Limited (AIM: GDL), the largest independent and specialized unconventional oil & gas driller in China, is pleased to announce that it has signed a new contract with Guangdong Bureau of Coal Geology ("GBCG") for Greka Drilling's proven drilling services.
The Hunchun CBM Drilling Project in the Jilin Province contracted to Greka Drilling, consists of a 30 well program to be completed as vertical CBM parameter wells into CBM seams. Greka Drilling has assigned 3 rigs of its light capacity GS (Schramm) rigs to the project.
All three units have been mobilised and are expected to be in operation on the project for a period of 105 days. The planned wells depths are between 700m and 800m.
Under the contract GBCG will provide several of the traditional services usually delivered by the drilling contractor - including casing services, logging services and cementing services.
Randeep Grewal, Chairman and CEO of Greka Drilling, commented:
"We are delighted that GBCG has chosen Greka Drilling for this drilling campaign. This is our first contracted work for GBCG, and also sees Greka Drilling operating in a new region of China. The field is situated in the Jilin Province, in the north east of China. We look forward to becoming a new service provider to GBCG. The efficiencies we can provide through our highly trained and skilled workforce, aligned with our modern drilling fleet, are again being recognized in sharp contrast to our competitors. This new region of activity for Greka Drilling gives us a possibility to diversify and spread our activity to more regions servicing more clients, building a varied portfolio of services and clients."
About GBCG:
Guangdong Bureau of Coal Geology was founded in January 1962. From beginnings in coal geology exploration in early 1960s, GBCG expanded into construction and engineering projects in the 1980s. It now it has 5781 employees and the GBCG group includes 5 institutions, 8 specialized branch companies and 1 holding company. It is a comprehensive state-owned enterprise in construction, geological exploration, coal materials trading and real estate development and etc. business.
For further information on Greka Drilling, please refer to the website at www.grekadrilling.com or contact:
Stephen Hill, VP Corporate Communications Greka Drilling
| +852 3710 0108 |
Dr Azhic Basirov / David Jones / Ben Jeynes Nomad Smith & Williamson
| +44 20 7131 4000 |
Steve Baldwin / Nicholas Harland Broker Macquarie Capital (Europe)
| +44 20 3037 2000 |
James Henderson / Nick Lambert / Rollo Crichton-Stuart Investor Relations Pelham Bell Pottinger
| +44 20 7861 3232 |