30 Jul 2010 07:00
30 July 2010
Great Eastern Energy Corporation Limited
("Great Eastern" or the "Company")
Signing of the Production Sharing Contract - Mannargudi CBM Block
Great Eastern Energy Corporation Limited, a company involved in the exploration, development and production of Coal Bed Methane ("CBM") in India is pleased to announce that, further to the announcement on 14 July 2010, the Company signed the Production Sharing Contract ("PSC") with the Government of India for the award of the CBM block at Mannargudi, Tamil Nadu on 29 July 2010 in the presence of the Hon'ble Minister of Petroleum & Natural Gas.
The total area of the block is 691 sq km, however, the effective area, after excluding the area with proposed coal mining operations will be 667 sq km. As previously announced, the gas in place in the effective area is 0.98 Tcf as estimated by the Directorate General of Hydrocarbons.
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 5900
Adrian Trimmings
RBC Capital Markets
Martin Eales +44 (0)20 7653 4000
Brett Jacobs
Pelham Bell Pottinger
Philip Dennis +44 (0)20 7861 3919
Elena Dobson +44 (0)20 7861 3147