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.
Green Dragon Gas is a sponsor of this site. Proactive Investors guarantees coverage of all sponsor news announcements from an investor view-point. For an in-depth analysis of Green Dragon Gas, click here.
Green Dragon Gas says Chinese CBM contracts remain in ‘full force and effect’
Green Dragon Gas (LON:GDG) told investors that the four production sharing contracts (PSCs) operated by its wholly-owned subsidiary Greka Energy remain in full force and effect.
Late this afternoon the company put out a statement to clarify its stance after reports that its partner China Coalbed Methane Corporation had ended their co-operative agreement。
"China United Coalbed Methane Corporation has released information indicating that they have elected to end their cooperation with the Company's wholly owned subsidiary, Greka Energy BV, on four of the production sharing contracts held by Green Dragon," the company said.
It added: "To date Greka, as the operator of the PSCs, has undertaken all investments in the PSCs and remains committed to the full exploitation and development programme on all four of the PSCs in accordance with its contractual obligations."
"The contracts remain in full force and effect."
The PSCs are the Fengcheng in Jiangxi province, Qinyuan and Shizhuang North in Shanxi province and Panxie East in Anhui province.
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 - 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 - Green Dragon Gas to take Sinoenergy stake to expand Chinese CBM upstream business
2010-10-08
