Part One: Will China's Coalbed Methane Projects Make a New power Billionaire?

Part One: Will China's Coalbed Methane Projects Make a New power Billionaire?

Accident Attorney Long Island - Part One: Will China's Coalbed Methane Projects Make a New power Billionaire? Good morning. Yesterday, I found out about Accident Attorney Long Island - Part One: Will China's Coalbed Methane Projects Make a New power Billionaire?. Which may be very helpful in my opinion and you.

Even the enemies of Randeep S. Grewal admire his firm savvy. Few might be surprised if the Ceo of Green Dragon shows up some day on the Forbes magazine list of billionaires. His company's recent share gift on the London Stock Exchange's Aim, commencing with a shop capitalization of Us5 million, was quite the bold stroke, raising a few eyebrows. Green Dragon placed a bit more than 4.5 million shares, less than 5 percent of the company's outstanding shares, to raise million. Randeep Grewal kept the remaining 95.2 percent of Green Dragon for himself. What I said. It just isn't the conclusion that the real about Accident Attorney Long Island. You read this article for home elevators anyone wish to know is Accident Attorney Long Island. Accident Attorney Long Island Upon the company's admission to the Aim shop Grewal remarked, "2007 promises to be a landmark year for Cbm and its gift to the Chinese power supply...This listing is an foremost and timely milestone in our increase driven strategy." The last time Grewal stooped to deal with the minor annoyances of the capital markets, he personally bought up all the shares of Greka power Corp, then trading on the Nasdaq. Shareholders loved him - he paid a 69 percent prime for their shares in 2003. Greka delisted from Nasdaq and deregistered with the U.S. Securities Commission. Since then, it's been more difficult to track Grewal's most recent accomplishments, but based upon the price of oil, his confidentially owned fiefdom is likely flush with cash. In a 2002 news release, Grewal revealed the then-public Greka power owned 800 million barrels of recoverable heavy gravity oil, which is ideal as feedstock for his asphalt refinery. That year Greka's throughput was 3400 barrels of asphalt per day. According to Abc News, the state of California paid 9/ton for asphalt - up 61 percent over the past year. High gasoline prices are driving major oil companies to squeeze more gasoline yield out of their crude oil. In any event, Grewal simply gets wealthier with every new barrel of asphalt or crude oil his firm produces. At least Green Dragon Gas is now publicly traded, gift shareholder participation. But, few shares are available to the public. Grewal may be compassionate to shareholders at the end of the day, but he's not parting with his shares this early in the game. In his filing statement with Aim, the firm noted that issuing additional shares to raise additional cash would come as a last resort, or more delicately stated, "... As thorough under the circumstances." Grewal would first turn to debt financings and other measures before gift shareholders additional liquidity. It is not an crisis the share price of Gdg, which opened for trading at Us.56/share speedily rose to a recent high of .60/share. A close study of Grewal's last firm explains the high trust in Green Dragon Gas. Not to be confused with his previously named Grewal Energy, which is now called Greka Integrated, Green Dragon Gas is the parent firm of Hong-Kong based Greka Energy. They hold five Cbm production-sharing contracts with China's state-owned Cucbm (China United Coalbed Methane Company). Green Dragon's contracts are upon weighty tracts of land (more than twice the size of Rhode Island), which could potentially host 16.5 trillion cubic feet of methane gas. According to the Green Dragon Gas website, Grewal is also chairman and chief executive of the California-based Greka Integrated, a firm which is described as being "involved in heavy oil and gas transportation, refining, real estate and with interests in power properties and refining assets." It is Santa Barbara County' largest onshore oil firm with holdings in Bakersfield, Orange County and the Los Angeles basin, Greka operates roughly 70 onshore production, processing and transportation facilities in Santa Barbara (California), as well as the Santa Maria Asphalt Refinery. It is the same one which produced 3400 barrels of asphalt every day while 2002. While others talk a good game, Grewal excels at the power game. In his last published interview which we were able to dig up (August 2001), Grewal explained exactly how he planned to make Greka power a success story, i.e. Selling oil or using it product asphalt and then sell asphalt, depending upon the price. And then he did. In a July 2002 news release, Grewal mentioned his firm would have long-term activities in China. And now it does - through Green Dragon Gas. In explaining the company's firm plan, while his 2001 interview, Grewal unabashedly boasted, "We're profitable at oil. We're profitable at oil. We're profitable at gas, and we're profitable at gas." He called his asphalt plant "a natural hedge to fluctuating commodity prices." It also provides consistent cash flow. And there is no doubt Grewal is ever more profitable with crude oil selling around /barrel. Steve Chase, Santa Barbara County's deputy power director, who regulates Greka's refinery (and has participated in fining Greka - see below), calls the company's firm plan "absolutely brilliant." Chase praised Greka in a New Times newspaper article, explaining the company's economics, "Oil sells either high or low, but asphalt doesn't. If you're an oil firm with an asphalt refinery, you can sell into two different markets. When oil is low, you use it to make asphalt. When it's high, you (just) sell it." Despite Chase's praise, Grewal's road to success has not been without a few car wrecks along the way. In 2002 and 2003, his firm was cited for more than 70 violations, which included oil spills and gas releases, According to the Santa Barbara News-Press newspaper. The country's district attorney filed felony charges against Greka after an explosion near the asphalt refinery injured two workers. Greka placed for civil penalties of 0,000. In November 2005, Greka Integrated lost its breach-of-contract lawsuit against a previous safety manager, Gary Lowery. In June of this year, the U.S. Environmental safety branch fined the firm 7,500 for "unauthorized disposal of oil refinery wastewater into the facility's injection wells, in violation of the federal Safe Drinking Water Act." This Greka has paid out about 0,000 in settlements since Grewal took the firm private. Life's itsybitsy annoyance become less problematic when one is selling oil for much more than /barrel. Especially when this same oil was profitable at /barrel. Grewal Turns to China to Build His Fortune Randeep Grewal's came into the power markets as chairman and chief executive of an oil and gas horizontal drilling company, Horizontal Ventures. while the power bear market, Grewal cleverly began a series of mergers and acquiring oil and gas assets, which led to his first Greka power Corp. He knew where to find deals and deftly began assembling his power empire. Horizontal drilling is integral to coalbed methane development, which brings Grewal back to where he started - as a gas drilling company. Also along the way, two of Grewal's companies have suffered bankruptcies. This past November, Saba Enterprises, at one time Greka power Corporation, filed for lesson 7 bankruptcy, after two creditors won judgments totaling .5 million. In its appeal the firm announced it had no assets. The total creditor shortfall could rise to more than million. In 1999, someone else firm of which Grewal was a director, Sabacol - a subsidiary of Saba Petroleum, was dissolved following the sale of its assets after working its way through lesson 11 bankruptcy proceedings. Life is also filled with many second chances. This time, however, through Greka power (Hong Kong) and Green Dragon Gas (Gdg), Grewal owns what might someday become a multi-billion dollar gas project. Smith & Williamson, Green Dragon's Ipo underwriter valued the firm at 3 million, depending on its success in recovering Gdg's estimated methane gas in place and the wellhead price at time of delivery. Until recently, coalbed methane was treated as a perilous waste product which killed coal miners in tunnel explosions. In China, depending upon whose numbers you believe, between 4,000 and 6,000 coal miners die each year. At best, methane was an unwelcome byproduct of coal mining, which the Chinese vented into the climate aggravating an already atrocious air pollution crisis. When the Chinese began to comprehend Cbm was providing a greater percentage of the U.S. Gas production, they wanted to compose their own vast resources. After all, the Chinese are pragmatists. Why pay through the nose to import Lng, when you are throwing away all that methane? In 2004, coalbed methane accounted for 8 percent of U.S. Gas production. That's the same percentage number China mandated in its eleventh five-year plan for the role of gas in its power mix. And as we've mentioned in previous articles, China has idled as much as 40 percent of its gas-fired plants because it could not collect adequate gas supplies. Methane or C4, which is a more pure gas than approved gas, is found within the carbon lattice of coal at a molecular level. The less "sweet" natural gas, which is found in more approved fields, was generated by hydrocarbon source rocks and is trapped in a porous and permeable reservoir rock, such as carbonate reserve or sandstone. Water pressure holds coalbed methane in place, which required new drilling technology, to efficiently extract. To extract coalbed methane, a firm drills wells into the coal seam, and then perforates and fractures the coal seams. By expanding permeability through this process, water is able to be pumped out of the coal seam. while this de-watering process, pressure keeping the gas in place is reduced. This pressure differential vents the gas through the fracture systems into the well. Voila! What had been killing coal miners and polluting China's climate could now be utilized to power gas-fired power plants. Copyright © 2007 by StockInterview, Inc. All rights Reserved. I hope you get new knowledge about Accident Attorney Long Island. Where you can put to easy use in your life. And most significantly, your reaction is passed about Accident Attorney Long Island. Read more.. Part One: Will China's Coalbed Methane Projects Make a New power Billionaire?.