25th May 2007 10:58
Great Eastern Energy Corp Ltd25 May 2007 For Immediate Release: 25th May 2007 Great Eastern Energy Corporation Ltd Results Date Great Eastern Energy Corporation (Great Eastern), a Company involved in theexploration, development and production of coal bed methane (CBM) in India, willbe announcing its Audited Results for the twelve months ended 31 March 2007 on6th June 2007. There will be an analysts meeting on that day at 09.30am at the offices ofPelham Public Relations, No 1 Cornhill, London. EC3V. For further information: Philip Dennis Pelham Public Relations Tel: 020 7743 6363 Notes to Editors: Great Eastern Energy Corporation Ltd. ("Great Eastern") raised £19m in December2005 through an admission of Global Depositary Receipts (GDRs) on the AIMmarket. The Company has a notional market capitalization of £ 152 m ($ 302 m) Great Eastern holds a licence to explore for CBM in the 210 sq km block in theRaniganj Coalfields, West Bengal. An independent report by Schlumberger awarded3P reserves of 817bcf and gas in place reserves of 1.386tcf, with average gascontent of 250 scf per ton of coal. The approved project plan involves drilling of 100 production wells over anestimated four year period in the first phase at an estimated investment of USD$150m. As at March 2007, in addition to 3 pilot production wells, the first 20production wells have been drilled and completed and 18 wells are dewateringprior to production. The market for natural gas in India is growing rapidly onthe back of strong economic growth. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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