Green Dragon Gas (GDG) has laid the foundations for what could be a world-class CBM development; however, the company’s ability to develop and monetise the resource before PSC expiry in 2035 is contingent on funding. 2P reserves (net 549bcf) continue to rise as GDG proves gas deliverability from incremental coal seams. As it stands, GDG is funding rather than resource constrained. In this note we look at three valuation scenarios; in our base case we assume that GDG uses RBL debt capaci
20 Feb 2017
Recapitalising to maximise value
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Recapitalising to maximise value
G3 Exploration Ltd (G3E:LON) | 0 0 0.0% | Mkt Cap: 43.9m
- Published:
20 Feb 2017 -
Author:
Sanjeev Bahl -
Pages:
11
Green Dragon Gas (GDG) has laid the foundations for what could be a world-class CBM development; however, the company’s ability to develop and monetise the resource before PSC expiry in 2035 is contingent on funding. 2P reserves (net 549bcf) continue to rise as GDG proves gas deliverability from incremental coal seams. As it stands, GDG is funding rather than resource constrained. In this note we look at three valuation scenarios; in our base case we assume that GDG uses RBL debt capaci