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G3 Exploration Limited - Operational update

G3 Exploration (LON:G3E), previously Green Dragon Gas, published an operational update for its Baotian-Qingshan (GGZ) Block, located in the Guizhou Province of Southern China.
G3 Exploration Limited - Operational update

Whilst we believe such strategic moves could eventually bring more clarity of purpose as well as additional transparency and opportunities in the medium-term, the market is inclined to wait and see where and how the dust settles once this transformation has been completed.

Full report is available via Capital Network website
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December 13 2017

Green Dragon Gas Ltd (LON:GDG) announced its plans to list its production subsidiary on the Hong Kong Stock Exchange as a dividend in specie. This operation requires shareholders’ approval and a vote will take place at the AGM to be held on 20/12/17 at 11:00 am. We expect the details of the listing, in particular the shareholding structure of the listed entity as well as the amount of capital increase, to be released on this occasion. However, the intention is for the company to be debt free as a result which we take as a positive; we keep our 221p valuation unchanged.

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