30th Jan 2019 13:41
LONDON (Alliance News) - G3 Exploration Ltd said Wednesday that its gross gas sales increased 18% in 2018 over the prior year.
In 2018, the coal bed methane gas exploration & development company sold 3.4 billion of standard cubic feet in gross gas volume.
Chair Randeep Grewal said: "I am pleased to report continued operational progress across our two producing commercial blocks in Shanxi as well as our six exploration blocks in Anhui, Guizhou, Jiangxi and Shanxi, in China."
Grewal added: "The exploration team has made significant progress during the year in concluding their focused area for further development. We expect this focused exploration programs across all six blocks to be concluding specific development prospects."
Looking at 2019, the firm expects to achieve first gas in the Guizhou block, as well as concluding prospective exploration acreage across all six blocks in China.
G3 Exploration shares were untraded on Wednesday, last closing at 39.80 pence each.
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