Investor Relations

Final Results

11 June 2014

Greka Drilling Limited

("Greka Drilling" or the “Company”)

Final Results

Greka Drilling Limited (AIM: GDL), the largest independent and specialized unconventional oil & gas driller in Asia, is pleased to announce its audited financial results for the year ended 31 December 2013.

HIGHLIGHTS

 OPERATIONAL HIGHLIGHTS:

·           7 contracted counterparties: Green Dragon Gas, CNPC Huabei, CNPC Jincheng, Petroking, Sinopec(Bofa), ESSAR and Guangdong Bureau of Coal Geology

·           Expansion into Indian market with 100 wells contracted by Essar Oil Ltd.

·           50 wells drilled in 2013 compared with 90 wells drilled in 2012

·           Fastest vertical well was drilled in 9 days to a depth of 795m. Vertical wells drilled in 2013, on average, had a TD of 840m and needed 22 days from spud to completion, compared with 37 days in 2012

·           Fastest directional well was drilled in 7 days to a depth of 752m. Directional wells drilled in 2013, on average, had a TD of 1,077m and completion in 9 days from spud. No directional wells were drilled in 2012

·           Fastest LiFaBriC well was drilled in 36 days to 1883m MD (TVD 862m). Average 88 days to complete LifaBriC wells for 2012

FINANCIAL HIGHLIGHTS:

·           Total Assets increased by US$16.5m to US$130.6m an increase of 14.5% year on year

·           EPS of US$0.0008, compared with US$0.005 in same period last year

·           Cash and bank deposits of US$16.1m

·           Gross margin 28%, compared with 20% in same period last year

Randeep S. Grewal, Chairman and CEO of Greka Drilling, commented:

“Whilst our results were clearly impacted by a major client curtailing its drilling programme in 2013, we are pleased that the Company has maintained its core strategy of diversifying its client base, geographical operational footprint and service strata and the strength of this business model has ensured Greka Drilling enhanced its operating profitability over the last reporting year.”

“Looking forward, the business sees continued growth within operations in both China and India and demand through further contracts. With an excellent backlog of drilling contracts and mobilisation orders from clients moving these contracts into revenue,we are confident of the outlook for 2014. With our strategy of diversifying our customer base further, Greka Drilling is well positioned for future growth.”

For further information on Greka Drilling, please refer to the website at www.grekadrilling.com or contact: