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Macquarie put a research on April 9 GDL Outperform

Macquarie put a research on April 9 GDL Outperform

10 April 2014


Macquarie Oil and Gas 360

Europe Edition – 9 April 2014

Greka Drilling (GDL LN, 18p, Outperform, TP: 36p) 30-well contract award, Giacomo Romeo, CFA

Greka has announced that it has signed a new contract with Guangdong Bureau of Coal Geology (GBCG) for a 30-well program (700-800m depth) on the Hunchun CBM Drilling Project (Jilin Province, North East China)

Greka will be deploying 3 rigs of its light capacity GS (Schramm) rigs to the project which are expected to be in operation on the site for 105 days.