Operational update

10 September 2012

Great Eastern Energy Corporation Limited

("Great Eastern" or "the Company")

Operational update

Great Eastern Energy Corporation Limited (LSE: GEEC), the fully integrated, leading Indian Coal Bed Methane (CBM) company, is pleased to provide the following operational update:

Raniganj (South) Block:

·; Production currently running at 11.2 mmscfd (25 June 2012, 9.8 mmscfd) up 14.3%

·; A total of 128 wells drilled to date; including 29 deviated wells (25 June 2012, 121 wells)

·; 111 wells fractured (25 June 2012, 98 wells)

·; 11 deviated wells producing gas

Outlook:

Prashant Modi, President and COO of Great Eastern, said:

"Great Eastern continues to make good progress. Deployment of the second rig at Raniganj is accelerating fracturing, production is increasing as planned, and we are on track to achieve our target of completing 40 wells per year."