Green Dragon Gas Ltd. is pleased to announce an operations update, following the end of the Fourth Quarter. Green Dragon is a focused upstream (E&P) company, concentrating on its core asset value proposition over six blocks, one in production and five in exploration.
◾ Total gas production for 2013 (including partially reviewed third party activities) was 7.19 Bcf (0.23 Billion cubic meters), a 304% yoy increase (1.78 Bcf for 2012).
◾ Standalone (excluding third party drilled acreage) annualised year end production of 2.9 Bcfpy (227,271 cubic meters/day), representing an 11% increase.
◾ Standalone gas production in Q4 2013 was 722 MMcf (20.4 million cubic meters), representing a 1.5% increase on Q3 2013 (711MMcf /20.1 million cubic meters) and a 42.6% yoy increase over Q4 2012 of 506 MMcf (14.3 million cubic meters).