Debt Maturity Extensions Update

RNS Number : 6800W

Green Dragon Gas Ltd

16 November 2017

 

16 November 2017

GREEN DRAGON GAS LTD.

("Green Dragon", 'GDG' or the "Company")

Debt Maturity Extensions Update

Green Dragon Gas Ltd. (LSE: GDG), one of the largest independent companies involved in the production and sale of coal bed methane (CBM) gas in China, continues to progress negotiations of the inter-creditor terms with its bond holders, as noted in the Company's Debt Maturity Extensions update on the 30^th October 2017.

The parties, GIC , Nordic Bond Holders and the Company are in negotiations in relation to the bonds and hope to have a this finalized shortly. The Company shall inform its stakeholders of the conclusion in due course.

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

FTI Consulting 

Edward Westropp / Kim Camilleri / Elizabeth Burnham / Ntobeko Chidavaenzi

Tel: [phone] 

About Green Dragon Gas 

Green Dragon Gas is a leading independent gas producer with operations in China and is listed on the main market of the London Stock Exchange (LSE: GDG). The Company has 559 Bcf of 2P reserves and 2,386 Bcf of 3P reserves across eight production blocks covering over 7,566 km² of license area in the Shanxi, Jiangxi, Anhui and Guizhou provinces. It holds six Production Sharing Agreements with strong, highly capitalised Chinese partners including CUCBM (CNOOC), CNPC and PetroChina, and has infrastructure in place to support multiple routes to monetise gas production.

 

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