Green Dragon Gas Sees 55% Jump in Output

Green Dragon Gas, an independent company involved in the production of CBM gas and the distribution and sale of wholesale gas in China, has reported year on year growth of 55% in annualized year end production of 201,785 cubic meters/day compared with 129,457 cubic meters/day at the end of December 2011.

Quarterly production in the final quarter that ended on 31 December was 506 MMcf, a 24% increase on a year earlier.

As on 31 December 2012, 51 LiFaBriC wells had been drilled at the Company's production block in Shizhuang South (GSS), representing a 96% increase on the year earlier. There are an additional 11 LiFaBriC wells across the Company's 5 exploration blocks. Across all blocks, the company reported total number of LiFaBriC wells at 62, an increase of 88% year on year.