GSS-008 Well Celebrates 8th Year of Production

RNS Number : 6705S

Green Dragon Gas Ltd

21 March 2016

 

21 March 2016

GREEN DRAGON GAS LTD.

("Green Dragon" or the "Company")

First LiFaBriC Well GSS-008 Celebrates its 8^th Anniversary with Continued Stable Production

Green Dragon Gas Ltd. (LSE: GDG), one of the largest independent companies involved in the production and sale of Coalbed Methane ('CBM') gas in China, is pleased to announce the 8^th anniversary of production from GSS-008, the first well to be drilled using the LiFaBriC completion design. GSS-008 first came on line on 21 March 2008 and this year has completed eight straight years of continuous and sustained gas production. The well has yet to show any decline in production rate and to date has produced a cumulative 1.28 Bcf of gas production.

Randeep S. Grewal, Chairman and Founder of Green Dragon Gas, commented:

 "I am exceptionally proud of the continued outstanding performance of GSS-008, the very first well completed using our LiFaBriC technique. The continuous and consistent performance year-on-year from this well since 2008 demonstrates the transformational impact of our LiFaBriC well design that is specifically tailored to address the unique challenges of complex faulted coal seams in China."

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 549 Bcf of 2P reserves and 2,379 Bcf 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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