GEEC.L Regulatory News (GEEC)

25 Jan 2010 07:00



January 25, 2010

Great Eastern Energy Corporation Limited

 Gas Sale Agreements ("GSA")

Great Eastern Energy Corporation Limited ("Great Eastern" or "the Company"), a company involved in the exploration, development and production of coal bed methane in India, is pleased to announce it has entered long term Gas Sale Agreements with three additional customers for the supply of 1.84 mmscfd of gas. 

Gas supplied under these GSAs will be transported to the customers through GEECL's pipeline network.  These agreements are significant step towards establishing CBM as a viable source of gas in West Bengal.

The signing of these additional GSAs brings the total amount of gas currently under contract to 22.96 mmscfd. 

Commenting, Prashant Modi, President & COO of Great Eastern, said:

"Growing the customer base through long term commercial supply arrangements remains our main area of focus at present and is continuing to add significant value to the business. Our ability to sign a number of long term sales agreements since the successful completion and testing of our distribution pipeline network in October last year is also a further reflection of the Company's marketing capability."

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For Further Information:

Great Eastern Energy 

YK Modi Chairman & CEO +44 (0)20 7337 1516

Prashant Modi President & COO

Arden Partners

Richard Day +44 (0)20 7614 5932

Adrian Trimmings

RBC Capital Markets

Martin Eales +44 (0)20 7653 4000

Brett Jacobs

Pelham Bell Pottinger

Philip Dennis +44 (0)20 7337 1516

Elena Dobson +44 (0)20 7337 1517