7th Feb 2014 09:11
LONDON (Alliance News) - Greka Drilling Ltd Friday said it has noted the fall in its share price over the past month but is not aware of any reason for such movement.
The specialised, unconventional oil-and-gas driller focused on China saw a 25% fall in its share price between the open of trading on January 2 and open of trading on Thursday.
Since Friday's pre-market announcement, the company's shares risen 10% to 11.00 pence, putting it in the top AIM movers in early trading Friday.
Greka said that, as noted in January, it has 180 confirmed drillable wells in 2014 for blue chip customers in China and India, which have an estimated total value of USD97 million.
The company also said that by increasing its geographical range into India, it has significantly de-risked its business and developed a healthy pipeline of operations.
By Tom McIvor; [email protected]; @TomMcIvor1
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