14th Oct 2009 08:08
October 14, 2009
Great Eastern Energy Corporation Limited
Completion of Pipeline Testing
Great Eastern Energy Corporation Limited ("Great Eastern Energy"), a company involved in the exploration, development and production of coal bed methane in India, is pleased to announce that, further to the announcement on September 10, 2009 regarding the successful completion of the laying of the pipeline from Asansol to Durgapur, it has now successfully completed the testing of the final section of that pipeline and that the entire pipeline has been charged with gas..
Finalising the pipeline from Asansol to Durgapur completes the total pipeline network of 77.62 km, comprises 11.80 km connecting the Gas Gathering Station (GGS) to the Central Gathering Station (CGS); 12.36 km connecting CGS to Kulti, and 53.46 km connecting Asansol (CGS) to Durgapur.
The pipeline system, which is capable of carrying up to 35 mmscfd at 15 bar pressure, is part of a vertically integrated network consisting of drilling, production, compression, transportation and distribution services.
Prashant Modi, President and Chief Operating Officer of Great Eastern Energy, commented:
"The completion of testing and the charging of the pipeline with gas is the final stage ahead of being able to supply gas direct to customer. This project opens up new commercial markets for Great Eastern and is, as such, a milestone for the Company."
Disclaimer
Great Eastern Energy Corporation Limited is proposing, subject to market conditions and other considerations, a public issue of its equity shares and has filed its Draft Red Herring Prospectus ("DRHP") with the Securities & Exchange Board of India ("SEBI").
This press release does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any equity shares, nor shall it or any part of it nor the fact of its distribution form the basis of, or be relied on in connection with, any contract or investment decision. Any potential investor should note that investment in equity shares involves a high degree of risk. For details, potential investors should refer to the DRHP filed with the SEBI including the section titled "Risk Factors". The Equity Shares of the Company have not been and will not be registered under the U.S. Securities Act 1933, as amended or any state securities laws in the United States. This announcement may not be released in the United States.
This announcement does not constitute an offer of securities for sale in any jurisdiction, including the United States, and any securities described in this announcement may not be offered or sold in the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act.
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Great Eastern Energy |
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YK Modi |
Chairman & CEO |
+44 (0)20 7743 6363 |
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Prashant Modi |
President & COO |
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Arden Partners |
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Richard Day |
+44 (0)20 7398 1632 |
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Adrian Trimmings |
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RBC Capital Markets |
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Sarah Wharry |
+44 (0) 20 7653 4667 |
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Pelham Public Relations |
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Philip Dennis |
+44 (0)20 7337 1516 |
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GEEC.L