Stock data
| Market cap. | £135.4m |
| Last close | 34.00p |
| High / Low (52 weeks) | 56.0p / 22.0p |
| Stock market listing | AIM |
| Forecast net debt (US$m) | 18 |
| Forecast gearing ratio (%) | 17 |
| Team | Resources - Oil & Gas |
| Sector | Oil & Gas |
Price performance
| % | 1m | 3m | 12m |
|---|---|---|---|
| Actual | (8.11) | (9.33) | 30.77 |
| Relative * | (3.6) | (1.89) | 43.71 |
* % Relative to local index
Other companies covered in sector
| Y/E Dec | Revenue (US$m) | EBITDA (US$m) | PBT (US$m) | EPS (fd) (c) | P/E (x) | P/CF (x) |
|---|---|---|---|---|---|---|
| 2010A | 24.3 | 5.1 | 2.8 | N/A | N/A | 26.0 |
| 2011A | 43.8 | 7.0 | 3.9 | 0.7 | 78.3 | N/A |
| 2012E | 168.1 | 44.7 | 39.1 | 6.8 | 8.1 | 5.3 |
| 2013E | N/A | N/A | N/A | N/A | N/A | N/A |
Last updated on 18/04/2012
Latest research
Positive outlook
Update | Oil & Gas | 03/11/2011
Unique drilling play
Outlook | Oil & Gas | 15/06/2011
Drilling services play
QuickView | Oil & Gas | 04/05/2011
Investment summary
Greka Drilling (GDL) recently announced 2011 earnings and, despite lagging our expectations, point to solidly profitable operations. More significantly perhaps, has been GDL's success in applying its pioneering LiFaBriC drilling methodology in unlocking the CBM potential of China's geologically challenging coal basins. As a result GDL appears poised to obtain third-party (non GDG) contracts. We believe there remains scope for a surge in earnings in 2012, reflecting the expansion of the rig fleet and the leveraging of the cost base.
Last updated on 23/04/2012
Industry outlook
The Chinese government is promoting the use of natural gas as a low carbon fuel. It is also attempting to reduce dependence on imported energy. The key objective is to raise the weighting of natural gas in the energy mix from 4% presently to 10% by 2020. CBM is expected to account for about 10% of natural gas production. In early August Shell announced a JV with Henan CBM to develop unconventional gas.
Last updated on 23/04/2012
Key management
| Randeep Singh Grewal, Chairman & CEO |
| Lisa He, CFO |
Company address
| (Headquarter) 29th Floor, Landmark Plaza No. 1 Business Outer Ring Road, Central Business District Henan Province Zhengzhou 450000 China 86 371 6013 0088 View website |
