Heads of Agreement with CNOOC

RNS Number : 6247R

Green Dragon Gas Ltd

29 October 2013

 



29 October 2013

GREEN DRAGON GAS LTD

("Green Dragon" or the "Company")

 Heads of Agreement with CNOOC

Green Dragon Gas Ltd. (AIM: GDG), one of the largest independent companies involved in the production and sale of CBM gas in China, is pleased to announce, following the announcement made on 8 October 2013 in relation to the drilling activities by third parties across the Company's PSC blocks, that it has entered into a non-binding Heads of Agreement (HOA) with Overseas Oil and Gas Corporation, Ltd, a subsidiary of China National Offshore Oil Corporation  (CNOOC) regarding a potential transaction between the two companies.

Further announcements with regards to the progress of the HOA between Green Dragon and CNOOC will be made in due course, as appropriate.

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

Stephen Hill, VP Corporate Communications Green Dragon Gas	[phone]
Dr Azhic Basirov / David Jones Smith & Williamson - Nominated Adviser & Broker	[phone]
Steve Baldwin / Nicholas Harland Macquarie Capital (Europe) Limited - Broker	[phone]
Richard Crichton / Andy Crossley Peel Hunt - Broker	[phone]
James Henderson / Phillip Dennis Pelham Bell Pottinger - Investor Relations	[phone]

 

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