Sep 21st 2012 - Edison Investment Research today published a report on Green Dragon Gas (GDG.L, LSE:GDG, LON:GDG) entitled "Development Continues Apace". In summary, the report says:
Progress in developing Green Dragon Gas’s (GDG) major coalbed methane (CBM) project in China’s Shanxi province has been slower than we expected. However, we believe the stage has now been set for well completion methodology, drilling capacity and the industrial infrastructure for a meaningful increase in CBM production over the next 18 months. Achievement of GDG’s 18bcf production target nevertheless requires further hefty capital outlays which raises financing issues post 2012.
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