Report on Payments to Governments for 2015

RNS Number : 4506J

Green Dragon Gas Ltd

09 September 2016

 

9 September 2016

GREEN DRAGON GAS LTD.

("Green Dragon" or the "Company")

Report on Payments to Governments for the year 2015

Green Dragon Gas Limited has prepared the following report in respect of payments made to governments during the year ended 31 December 2015. The information is provided in accordance with the Reports on Payments to Governments Regulations 2014 (2014/3209) and DTR 4.3A of the Financial Conduct Authority's Disclosure and Transparency Rules.

This report is available for download from: www.greendragongas.com

Under the requirements of the DTR, payments to State Owned Enterprises are classified as payments to Governments.

Contract counterparty/ project	Taxes (USD'000)	Royalty (USD'000)	Production entitlement (USD'000)	Infrastructure cost (USD'000)	Licence fees (USD'000)	Total (USD'000)
China National Offshore Oil Company (CNOOC)
Shizhuang South (GSS)	-	-	-	-	247	247
Shizhuang North (GSN)	-	-	-	-	-	-
Qinyan (GQY)	-	-	-	-	85	85
Panxie East (GPX)	-	-	-	-	95	95
Fengcheng (GFC)	-	-	-	-	110	110
Total CNOOC					537	537
Contracts with PetroChina
Chengzhuang (GCZ)	82	-	-	-	35	117
Boatian-Qingshan (GGZ)	-	-	-	-	146	146
Total PetroChina					181	263
TOTAL (ALL PRC)	-	-	-	-	718	800

The contracts that Green Dragon Gas operates under do not include provision for contract bonuses (signature, discovery, production) nor are any dividends paid from ventures.

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

Instinctif Partners

David Simonson / George Yeomans

Tel: [phone]

Citigroup

Tom Reid / Luke Spells

Tel: [phone]

Peel Hunt

Richard Crichton / Ross Allister

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 549Bcf of 2P reserves and 2379Bcf of 3P reserves across eight production blocks covering over 7,566km² of licence 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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