Quarterly Production Update

RNS Number : 9664C

Green Dragon Gas Ltd

09 May 2012

 



9 May 2012

GREEN DRAGON GAS LTD

("Green Dragon Gas" or "the Company")

Quarterly production increases 34% - Conference Participation

Green Dragon Gas (AIM:GDG), one of the largest independent companies involved in the production of CBM gas and the distribution and sale of wholesale gas in China, is pleased to announce that its Q1 2012 total production was 414 MMcf, a 34% year-on-year increase on Q1 2011. The Company remains on track to achieve its previously-stated annualised production rate target of 18 Bcf following a discretionary capital expenditure programme. Production came entirely from the Shizhuang South (GSS) block, where Greka Drilling Limited's (AIM: GDL) LiFaBriC methodology applied to lined, faulted brittle coals continues to increase production rates.

GDG will be presenting at the Macquarie Securities Greater China Conference in Hong Kong, on 10/11 May 2012.

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

Stephen Hill Green Dragon Gas	[phone]
Dr Azhic Basirov / David Jones Smith & Williamson - Nomad & Broker	[phone]
Paul Connolly / John Dwyer / Steve Baldwin Macquarie Capital (Europe) - Broker	[phone]
James Henderson / Phillip Dennis Pelham Bell Pottinger - Investor Relations	[phone]
Robyn Joseph Kreab Gavin Anderson - Public Relations	[phone]

Note

MMcf means millions of cubic feet; Bcf means billions of cubic feet.

 

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