The moment could be perfect to get into Greka Drilling. It appears to have a good base in China with strong Third Party agreements.
Opening a office in Singapore and looking at India as the next step.

SP dropped back after some profit taking.

There could be a tie up with Essar Energy but this is my speculation.

50day SMA just crossing the 200 SMA is a good sign.

High lighted the poignant sentence. When they announce this expect the SP to lift off.
Essar RNS
Exploration & Production At Essar Oil's flagship Raniganj CBM block, current gas production is around 100,000 standard cubic metres per day (scm/d). We have drilled 170 wells and completed hydrofacturing of 155 wells. Peak production is expected to be about 3.00 mmscmd.We are planning to appoint an expert agency to accelerate our drilling program. We have invested around Rs 1,775 crore as of September, 2013 while the total investment is expected to be Rs 3,500 crore. With the new gas price regime kicking in from April 1st, 2014, gas price is expected to be much better from current $4.2 /mmbtu. We see this as a welcome reform by the GOI which would boost investments in the E&P sector followed by ramp up in production, curb expensive imports, promote exploration and increase government revenues. This will also be positive for E&P companies as their profitability increases and also the new gas fields will become viable thereby boosting the domestic gas production.

In 2013 we were treated to a couple of major charting events from Greka Drilling (GDL), something of the magnitude you might expect from a minnow which is volatile, but with the implication that trying to guess when the next spike may come in is always going to be a difficult exercise.

There was a final surge for the shares in December which was a one day wonder, through the 200 day moving average – a classic false dawn if you chased the stock after the move materialised.

Therefore, it may be worth looking at the shares as they are now after a period of extended consolidation. An entry at or near current levels would clearly be good for those concerned about getting in on the long side on a bull trap.

It should be noted how the price action has been supported by a rising trend line in the RSI window, as well as a line of support from July towards 12p. This combination offers a buy opportunity at current levels with a weekly close back below 12p offering the chance of a range floor buy.

But it may be the case that most traders would wish to wait on an end of day close back above the 50 day moving average at 13.83p before targeting a retest of the November peak towards 20p.




- See more at: http://www.shareprophets.advfn.com/views/3512/greka-drilling-buy-positive-momentum-building-for-rally-back-through-20p#sthash.zQDj29sy.dpuf

Share price is recovering after a large sell out.

$100m contracts for 2014 inc. deal with Essar in India

More deals to arrive

looking attractive at this point.

Greka Gas confirms 150 well drill program for 2015. GDL order book Page 20 .

This is the news I've been waiting for. fingers crossed

Expectations of some big contracts about to arrive.

China contracts on the way

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