Debt Maturity Extensions Update

RNS Number : 8756W

Green Dragon Gas Ltd

17 November 2017

 

17 November 2017

GREEN DRAGON GAS LTD.

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

US$ 88M 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, remains in active and constructive dialogue with a majority of its Oslo Exchange Listed US$88 million bondholders, regarding finalisation of an extension to the maturity of the Bonds, as noted on 30^th October 2017.

A further update will be forthcoming in the near term.

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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

Tel: [phone]

About Green Dragon Gas Ltd

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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