Clarification announcement

RNS Number : 8273C

Green Dragon Gas Ltd

11 March 2011

 



11 March 2011

GREEN DRAGON GAS LTD

("Green Dragon" or "the Company")

 Clarification announcement

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, announces that China United Coalbed Methane Corporation ("CUCBM") has released information indicating that  they have elected to end their cooperation with the Company's wholly owned subsidiary, Greka Energy (International) BV ("Greka"), on four of the production sharing contracts held by Green Dragon ("the PSCs"), namely Fengcheng in Jiangxi province, Qinyuan and Shizhuang North in Shanxi province and Panxie East in Anhui province. 

To date Greka, as the operator of the PSCs, has undertaken all investments in the PSCs and remains committed to the full exploitation and development programme on all four of the PSCs in accordance with its contractual obligations.  The contracts remain in full force and effect.

For further information on the Company and its activities, please refer to the website at www.greendragongas.com or contact:

For further information please contact:

Stephen Hill, VP Corporate Communications Green Dragon Gas	[phone]
Dr Azhic Basirov / David Jones Nomad & Broker Smith & Williamson	[phone]
Robert Collins / Tim Redfern / Anu Tayal Broker Evolution Securities	[phone]
Paul Connolly / John Dwyer / Steve Baldwin Broker Macquarie Capital (Europe) Limited	[phone]
Judith Rawnsley Broker CLSA	[phone]
Philip Dennis / James Henderson Investor Relations Pelham Bell Pottinger	[phone]

 

END

 

 

MSCBLGDXGGBBGBB