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Operational update

10 Sep 2012 07:00

RNS Number : 8321L
Great Eastern Energy Corp Ltd
10 September 2012
 



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:

·; On track to achieve our target of 40 wells per year
·; Confident of meeting market expectations
·; Routine approvals still pending to commence work on Mannargudi Block
·; ONGC has now decided to withdraw the farm-out process that it begun for four of its CBM blocks earlier this year, and informed Great Eastern that "the farm-out process needs to be carried out afresh." 

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."

 

For further information please contact:

 

Great Eastern Energy

Yogendra Kr. Modi

Chairman & CEO

+44 (0)20 7337 1516

Prashant Modi

President & COO

Arden Partners plc

Richard Day

+44 (0)20 7614 5917

Adrian Trimmings

Goldman Sachs International

James Anderson

+44 (0) 20 7774 1000

M: Communications

Ann-marie Wilkinson

+44 (0) 20 7920 2344

Andrew Benbow

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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Date   Source Headline
25th Jun 20127:00 amRNSReserves Upgrade
19th Jun 201211:38 amRNSNotice of AGM
14th May 20127:00 amRNSFinal Results
27th Mar 20128:53 amRNSNotice of Results
24th Feb 20127:00 amRNSReserves Upgrade
30th Jan 20127:00 amRNSDirector/PDMR Shareholding
9th Jan 20127:00 amRNSSuccessful completion of Rights Issue
23rd Nov 20119:31 amRNSTR-1 Notification of Major Interest in Shares
22nd Nov 20117:00 amRNSDirector's Dealing
21st Nov 20114:26 pmRNSRights Issue
7th Nov 20117:00 amRNSHalf Yearly Report
3rd Oct 20118:44 amRNSDirector's Dealing
28th Sep 20117:00 amRNSTrading Statement
27th Sep 20119:04 amRNSHolding(s) in Company
1st Sep 20118:45 amRNSCompany Secretary Change
18th Jul 20117:00 amRNSInterim Management Statement
9th Jun 20118:35 amRNSResult of AGM
17th May 20112:17 pmRNSNotice of AGM
9th May 20117:00 amRNSFinal Results
14th Apr 20117:00 amRNSNotice of Results
21st Mar 20112:25 pmRNSNotification of major interest
21st Mar 20117:00 amRNSNotification of major interest in shares
18th Mar 20111:45 pmRNSHolding(s) in Company
14th Mar 20117:00 amRNSTrading Statement
10th Mar 201111:49 amRNSReplacement Company Secretary
21st Jan 20111:37 pmRNSAppointment of Joint Corporate Broker
10th Jan 20117:54 amRNSExternal Commercial Borrowing ("ECB") Facility
10th Jan 20117:00 amRNSExternal Commercial Borrowing ("ECB") Facility
10th Jan 20117:00 amRNSInterim Management Statement
4th Jan 20112:19 pmRNSMannargudi CBM Block Update
17th Nov 20107:00 amRNSDirector's Dealing
11th Nov 20107:00 amRNSDirector's Dealing
11th Nov 20107:00 amRNSDirector's Dealing
8th Nov 20107:00 amRNSInterim Results for six months ended 30.09.10
29th Sep 20107:00 amRNSNotice of Interim Results
16th Sep 20104:12 pmRNSNOTIFICATION OF MAJOR INTEREST IN SHARES
10th Sep 20109:50 amRNSRe-organisation of Promoters' Holding
2nd Sep 20107:00 amRNSDirector's Dealing
31st Aug 201012:02 pmRNSReplacement Company Secretary
24th Aug 20109:04 amRNSDirector's Dealing
20th Aug 20109:52 amRNSResult of AGM
2nd Aug 20107:00 amRNSDirector's Dealing
30th Jul 20107:00 amRNSSigning of the PSC for the new Block
29th Jul 20107:00 amRNSInterim Management Statement
28th Jul 20107:00 amRNSAnnual General Meeting
19th Jul 20107:00 amRNSFull Year Results (IFRS)
14th Jul 20107:00 amRNSConfirmation of Award of CBM Block at Mannargudi
7th Jul 20107:00 amRNSFull Year Results
5th Jul 20107:00 amRNSAnnual Results Date
25th Jun 20108:11 amRNSAward of CBM Block at Mannargudi
1234567

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