G3 Exploration Limited Report on Payments to Governments for 2018 (0524F)
10 Julio 2019 - 1:00AM
UK Regulatory
TIDMG3E
RNS Number : 0524F
G3 Exploration Limited
10 July 2019
10 July 2019
G3 EXPLORATION LTD.
("G3 Exploration", "G3E" or the "Company")
Report on Payments to Governments for the year 2018
G3 Exploration Ltd. (LSE: G3E) has prepared the following report
in respect of payments made to governments during the year ended 31
December 2018. The information is provided in accordance with the
Reports on Payments to Governments Regulations 2014 (2014/3209) and
DTR 4.3A of the Financial Conduct Authority's Disclosure and
Transparency Rules.
This report is available for download from:
http://www.g3-ex.com
Under the requirements of the DTR, payments to State Owned
Enterprises are classified as payments to Governments.
Contract Taxes Social Insurance Royalty Production entitlement Infrastructure cost Licence fees Total
counterparty/
project
(USD'000) (USD'000) (USD'000) (USD'000) (USD'000) (USD'000) (USD'000)
----------------------------- ---------------------------- ---------------------------- ------------------------------ -------------------------- --------------------------- -------------------------
China National
Offshore Oil
Company (CNOOC)
-------------------- ----------------------------- ---------------------------- ---------------------------- ------------------------------ -------------------------- --------------------------- -------------------------
Shizhuang South
(GSS) 493 41 - - 40 - 574
-------------------- ---------------------------- ---------------------------- ------------------------------ -------------------------- --------------------------- -------------------------
Shizhuang North - - - - - - -
(GSN)
-------------------- ---------------------------- ---------------------------- ------------------------------ -------------------------- --------------------------- -------------------------
Qinyan (GQY) - - - - - - -
-------------------- ---------------------------- ---------------------------- ------------------------------ -------------------------- --------------------------- -------------------------
Panxie East (GPX) - - - - - - -
-------------------- ---------------------------- ---------------------------- ------------------------------ -------------------------- --------------------------- -------------------------
Fengcheng (GFC) - - - - - - -
-------------------- ---------------------------- ---------------------------- ------------------------------ -------------------------- --------------------------- -------------------------
Total CNOOC 493 41 - - 40 - 574
-------------------- ---------------------------- ---------------------------- ------------------------------ -------------------------- --------------------------- -------------------------
Contracts with
PetroChina
-------------------- ----------------------------- ---------------------------- ---------------------------- ------------------------------ -------------------------- --------------------------- -------------------------
Chengzhuang (GCZ) 958 - - - - - 958
----------------------------- ---------------------------- ---------------------------- ------------------------------ -------------------------- --------------------------- -------------------------
Boatian-Qingshan
(GGZ) 30 2 - - - - 32
----------------------------- ---------------------------- ---------------------------- ------------------------------ -------------------------- --------------------------- -------------------------
Total PetroChina 988 2 - - - - 990
----------------------------- ---------------------------- ---------------------------- ------------------------------ -------------------------- --------------------------- -------------------------
TOTAL (ALL PRC) 1,481 43 - - 40 - 1,564
----------------------------- ---------------------------- ---------------------------- ------------------------------ -------------------------- --------------------------- -------------------------
The contracts that G3E operates under do not include provision
for contract bonuses (signature, discovery, production) nor are any
dividends paid from ventures.
For further information on the Company and its activities,
please refer to the website at www.g3-ex.com or contact:
G3 Exploration Ltd
Randeep S. Grewal, Chairman and CEO G3E@greka.com
VSA Capital Limited (Financial Adviser and Corporate Broker)
Andrew Monk (Corporate Broking) +44 (0) 20 3005 5000
Andrew Raca (Corporate Finance) G3E@vsacapital.com
Yellow Jersey PR Limited
Tim Thompson +44 (0) 20 3004 9512
Harriet Jackson G3E@yellowjerseypr.com
Henry Wilkinson
About G3 Exploration Ltd.
G3E is a leading independent gas producer with operations in
China and is listed on the main market of the London Stock Exchange
(LSE: G3E). The Company has 377 Bcf of 2P reserves and 2,044 BCF of
3P reserves across eight production blocks covering over 7,566km(2)
of license area in the Shanxi, Jiangxi, Anhui and Guizhou
provinces. It holds six Production Sharing Agreements with strong,
highly capitalised Chinese partners including CNOOC, CNPC and
PetroChina, and has infrastructure in place to support multiple
routes to monetise gas production.
The company is committed to an exploration and appraisal focused
business plan in coal bed methane development across three
geographies concurrently. It has a well-established track record
and has demonstrated perseverance in going the distance to monetise
shareholder value through three basic principles:
-- Focus on core intellectual aptitude in developing coal bed methane
-- Develop assets in an environmentally and socially prudent manner
-- Protect accreted shareholder value
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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