Chinas Leading E&P Independent Annual General Meeting July 2015 www.greendragongas.com LSE: GDG.LN 18 Years of CBM in China
2014 milestones: a transformational year Move to the Main Board of the London Stock Exchange Balance sheet strengthened to net shareholder equity of US739m Enhanced partnership with CNOOC (CUCBM) and CNPC (Petrochina) The…
2015 Outlook Funded growth strategy Cash at year end of US80m available to fund growth strategy Targeting an exit rate of 12BCF per year by 31 December 2015 GSS: 8Bcf per year GCZ: 4Bcf per year Drilling and development 30…
Operational Update Focus on infrastructure build to enable production and sales from drilled wells Drilling programme: first phase of drilling vertical wells for eventual LiFaBriC interception near completion H2 focus on second…
Financial Performance Revenue: 33.8m Increase of 13% over 2013 on a recurring basis Revenue and EBITDA(1) (USm) EBITDA: 4.7m 33.8 Increase of 156% 29.8 Balance Sheet Net cash of 80m Raised US138m through Issuance of 50m CB…
Operational Statistics Exploration and Production Direct equity interest in 1,938 wells Drilled 10 LiFaBriC wells at GSS A total of 89,010 feet drilled, of which 26,541 in coal 2014 exit rate of 8.9Bcfpy Sales Total gross…
Operational Performance CBM Production Total gas production in 2014: 8.2 Bcf Average daily gas production in 2014: 22mmcf/day 2014 year end exit rate of 8.9Bcfpy Reserves Total Original Gas In Place of 25.2Tcf Net 1P reserves…
Block Highlights GSS: GDG operated 60% WI to be increased to 70% on option exercise 1,491wells; 68 exploration, 874 online, 544 gas producing US518m of capital deployed by CNOOC(cucbm) thus far Additional spending toward offtake…
Upside: Coal Seam 15 (5 blocks) CS15 is located on average 80m below CS3 minimal incremental cost to enter coal seam CS3 and 15 Cross Section Higher gas content Higher OGIP in equivalent area compared to CS3 Knowledge and…
Subsurface Access to coal seams off limits to traditional vertical wells due to topography Coal seam 15 situated on average 80m below coal seam 3 -15-
GSS Infrastructure Overview of Wells and Infrastructure at GSS Block Total investment of US737 million 2014 gross production of 8.2Bcf GDG Pipeline of 52.6km CNOOC 167.5km of trunk and gathering pipeline completed Gross sales…
Shareholder Liquidity and Dividends Committed to improving the liquidity for existing and new shareholders in a disciplined and structured manner 0.7 Public Float 50.0% Dividend 44.2% 45.0% 0.6 0.59 40.0% 35.3% 35.3% 35.3%…
Consolidated Statement of Financial Position For year ended December 31 USD '000 Assets Non-current assets Property, plant and equipment 157,627 28,232 Non-current liabilities Gas exploration and appraisal assets 1,157,915 902,537…
Consolidated Statement of Comprehensive Income For year ended December 31 USD '000 2014 2013 Continuing operations Revenue 33,787 62,181 Cost of sales -19,104 -40,322 Gross profit 14,683 21,859 Selling and distribution costs…
Consolidated Statement of Cashflow For year ended December 31 USD '000 2014 2013 2014 2013 Operating activities Loss after tax -35,813 -823 Net cash used in investing activities -93,559 -10,535 Adjustments for: Depreciation 4,867…
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