Appointment of Managing Director & CEO

23 September 2015

Great Eastern Energy Corporation Limited

("Great Eastern" or "the Company")

Appointment of Managing Director & Chief Executive Officer

Great Eastern Energy Corporation Limited (LSE:GEEC), the fully integrated gas production, development and exploration company, announces that the Board of Directors was pleased to approve the appointment of Mr. Prashant Modi to the Board of Great Eastern as the Managing Director & Chief Executive Officer of the Company w.e.f. 22 September 2015. Mr. Modi was the President & Chief Operating Officer of the Company.

Mr. Yogendra Kumar Modi, who was the Chairman and Chief Executive Officer of Great Eastern, will now be the Executive Chairman of the Company.

Mr. Rana Talwar, Independent Director and Chairman of the Nomination and Remuneration committee of Great Eastern said:

"We are delighted to announce Prashant's appointment which bears testimony to the hard work, commitment, and achievements in driving through operational excellence within Great Eastern Energy Corporation."

About the Company

The Company is a fully integrated gas production, development and exploration company in India, providing gas to the growing industrial region of West Bengal. Gas is being produced (Coal-Bed Methane gas) from the Raniganj (South) license area, which covers 210 sq. km, with 2.62 TCF of Gas-in-Place. 

The Company's second asset is the Mannargudi license situated in the state of Tamil Nadu in India, which covers an area of 667 sq. km and 0.98 TCF Gas-in-Place.

In the year ended as on 31 March 2015, the Company increased its turnover by 9% to US$ 37.46m, EBITDA by 4% to US$ 24.80m and cash generation by 13% to US$ 20.21m.

For further information please visit www.geecl.com

For further information please contact:

Great Eastern Energy

Yogendra Kr. Modi Executive Chairman +44 (0)20 7614 5917

Prashant Modi Managing Director & CEO

Arden Partners

James Felix +44 (0)20 7614 5900

Ciaran Walsh

Camarco  

Ginny Pulbrook +44 (0)20 3757 4992

Billy Clegg

Georgia Mann