Green Dragon Gas
Green Dragon is the parent company of Greka China, and is exclusively focused in gas industry in China. Green Dragon operates within China under its subsidiary Greka China Green Dragon is a gas supplier based in China with a focus on the production, development, production, distribution and sales of natural gas from coal seams, commonly known as coal bed methane or CBM.
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Green Dragon Gas continues growth, H1 revenue soars to US$18.7m
Chinese coal bed methane business Green Dragon Gas Ltd (AIM:GDG) said the business continues to grow at a steady pace as it reported results for the first half, showing revenue increasing to US$18.7 million from US$2.4 million, with the growth coming predominately from its downstream operations.
Pretax loss narrowed to US$10.9 million in the six months to June 30 2009 from US$13 million a year earlier. All business segments continue to grow organically although the downstream revenue is expected to dominate revenues for the next couple of years, the company said in a statement.
As upstream CBM sales come on line in 2010, the higher profit margins generated by these sales will increase profitability in 2011 and beyond.
Following the joint venture agreement with ConocoPhillips (NYSE: COP) in August 2009, the mutually developed and agreed US$30 million drilling programme has commenced in its Shanxi blocks, and Green Dragon expect to see results before the end of the year.
Other Green Dragon Gas news
- Green Dragon’s Grewal speaks at prestigious Chinese conference
2011-08-31 - Green Dragon Gas chairman Grewal appointed to provincial gov't board in China
2011-08-03 - Green Dragon Gas says Chinese CBM contracts remain in ‘full force and effect’
2011-03-12 - Enter the Dragons: China's coal bed methane specialist prepares to do the splits
2011-02-16 - Green Dragon Gas to move ahead with Hong Kong IPO
2010-11-09
