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  5. Operational update

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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
14th Jun 201011:29 amRNSAnnual Results Date
28th May 20107:00 amRNSFirst Day of Dealings
25th May 201010:29 amRNSProspectus and move to Main Market
27th Apr 20107:00 amRNSProposed move from AIM to the Main Market
1st Apr 20105:24 pmRNSDirector's Dealing
30th Mar 20109:30 amRNSDirector's Dealing
18th Mar 201011:55 amRNSAppointment of Non-Executive Director
4th Mar 20107:00 amRNSUpdated Competent Person's Report
22nd Feb 201012:13 pmRNSDirector's Dealing
8th Feb 20107:00 amRNSFranchise Agreement
3rd Feb 20107:00 amRNSInvestor Presentation and Operations Update
25th Jan 20107:00 amRNSGas Sale Agreements
4th Jan 20109:00 amRNSHolding(s) in Company
24th Dec 20091:28 pmRNSHolding(s) in Company
15th Dec 20097:00 amRNSSignificant Gas Sale Agreement
4th Dec 20099:29 amRNSHolding(s) in Company
3rd Dec 200910:10 amRNSAllotment of Shares
1st Dec 20099:41 amRNSResult of EGM
13th Nov 20094:40 pmRNSDirector/PDMR Shareholding
11th Nov 200912:04 pmRNSNotification of Interests
10th Nov 20097:00 amRNSExtraordinary General Meeting
9th Nov 20094:21 pmRNS?28.8 million raised through placing - Replacement
9th Nov 20093:31 pmRNS?28.8 million raised through placing
9th Nov 20093:30 pmRNSInterim Results
2nd Nov 20097:00 amRNSInterim Results Date
14th Oct 20098:08 amRNSCompletion of Pipeline Testing
10th Sep 200910:00 amRNSDirectors Dealings
10th Sep 20097:00 amRNSCompletion of Pipeline
13th Aug 20097:00 amRNSPipeline Progress
31st Jul 20097:00 amRNSShare Consolidation
6th Jul 20098:36 amRNSResult of AGM
22nd Jun 20097:00 amRNSShare Consolidation
19th Jun 20093:34 pmRNSNotification of Interest
8th Jun 20098:08 amRNSAppointment of Director
8th Jun 20097:00 amRNSResults for Year Ended 31 March 2009
11th May 20097:00 amRNSAnnual Results Date Announcement
20th Apr 20097:00 amRNSCommissioning of Second Pipeline
17th Mar 200910:26 amRNSGas Sale Agreement
9th Feb 20097:00 amRNSAppointment of Joint Broker
28th Jan 20091:13 pmRNSCommissioning of First Pipeline
29th Dec 20089:20 amRNSFiling of Draft Red Herring Prospectus
22nd Dec 20087:00 amRNSNotice to GDR Holders
11th Dec 20087:00 amRNSInterim Results
10th Dec 20084:17 pmRNSDirectorate Change
11th Nov 20087:00 amRNSInterim Results Date
15th Oct 20089:58 amRNSDirector's Dealing
8th Oct 20089:45 amRNSDirector's Dealing
26th Sep 20089:23 amRNSAnnual Report and Accounts
25th Sep 200811:00 amRNSDirector's Dealing
22nd Sep 20089:02 amRNSDirector's Dealing
1234567

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