28 Sep 2011 07:00
28 September 2011
Great Eastern Energy Corporation Limited
("Great Eastern" or "the Company")
Trading update and Interim results date
Great Eastern Energy Corporation Limited (LSE:GEEC) the fully integrated, leading Indian Coal Bed Methane (CBM) company, is pleased to provide the following trading update prior to entering its close period for the six month period ending 30 September 2011. Trading before any adjustment for currency (mark to market) is in line with market expectations in spite of the exit production for 30 September 2011 being slightly lower than expected due to longer than expected de-watering in some wells in the southern part of the Company's Raniganj block. With more wells coming on stream in the second half, the Company expects to meet market expectations for the year to 31 March 2012.
Great Eastern signed an additional contract during the period for 0.48 mmscfd and 34.29 mmscfd gas under contract /MOU (33.81 mmscfd as at 8 July 2011). Drilling and fraccing activities have now begun to pick up as the monsoons are gradually withdrawing.
Interim results for the six months to 30 September 2011 will be announced on 7 November 2011. A presentation for analysts will be held at 9.30 am on the day at the offices of M:Communications, 1 Ropemaker Street, London EC2Y 9AW.
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 |
Patrick D' Ancona