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Name | Symbol | Market | Type |
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Great Eastern | LSE:GEEC | London | Depository Receipt |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
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0.00 | 0.00% | 3.50 | 1.00 | 6.00 | - | 0 | 01:00:00 |
Date | Subject | Author | Discuss |
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16/12/2005 23:47 | Maybe you need to go through "Arden Partners":- LONDON -(Dow Jones)- Great Eastern Energy Corporation, a company incorporated to explore, develop, distribute and market Coal Bed Methane ("CBM") in India, said it has raised GBP12.1 million at 101 pence per share and that dealings have started in its global depositary receipts (GDRs) on AIM. The company also said a further GBP6.9 million of GDRs have been placed at 101 pence by existing shareholders. Arden Partners is acting as the company's nominated adviser and broker. To date, 3 pilot wells have been drilled and the company expects the drilling of a further 20 wells to commence during the first quarter of 2006. The development plan for the project involves drilling 100 wells over an estimated four year period. Sales from the original 3 pilot wells is expected to start during the first quarter of 2006, the company said. The net proceeds of the placing will be used to fund infrastructure projects and to develop the first 20 wells of the company's development plan. | philmiboots | |
16/12/2005 23:41 | Coal Bed Methane developments in Asia, SAIL may buy coal-bed methane from ONGC Tuesday, 06 December , 2005, 11:21 Mumbai: Steel Authority of India (SAIL) may buy coal-bed methane (CBM) from Oil and Natural Gas Corporation (ONGC) to be used as a substitute for expensive coking coal. The move would cut SAIL's coking coal requirement by one million tonne and will save Rs 619 crore. The steel major needs 13.2 million tonne coking coal annually. The proposal is to partially replace coking coal at Bokaro and Durgapur steel plants. ONGC has nine CBM blocks in five states and expects to begin commercial production by 2006-07. | gardenboy | |
16/12/2005 23:25 | GEEC has chosen to apply for GDRs to be admitted on AIM and not it's Ordinary Shares, because Indian law does not allow an Indian company to have an overseas listing of its shares. I'm currently having trouble buying these - my broker tells me I have to sign a form first! | gardenboy | |
16/12/2005 23:22 | Great Eastern Energy to raise $50m London, December 5, 2005 A gas exploration and production company backed by India's Modi family is poised to float on London's Alternative Investment Market this week. Great Eastern Energy, which is chaired by Yogendra Modi and run by his son Prashant, hopes to raise up to $50m (£29m) to help develop a massive coal bed methane project in West Bengal. The flotation will value the company at up to $240m. "We're very excited about bringing Great Eastern to London," said Yogendra Modi. "We want to accelerate the project development and also to increase our current shareholder base." The family's stake of around 75 per cent will come down to about 65 per cent on flotation. Other shareholders include Aidan Heavey, the chairman of Tullow Oil, and Tom Hickey, Tullow's finance director. "This company has the potential to be a lot bigger in a few years," Hickey told The Telegraph, adding that his investment was "very modest". "There are very few vehicles which give you exposure to the Indian energy market." | gardenboy | |
16/12/2005 23:19 | good introductory link, | gardenboy | |
16/12/2005 23:15 | Company website : Introduction Great Eastern Energy is amongst the first of its kind in India to be involved with Coal Bed Methane. The company has been granted a block of approximately 210 km2 in the Raniganj coalfields of the the Damodar Valley in West Bengal, India The block is located approximately 200 km north-west of Kolkata and is located in an industrialised region of the Damodar Valley in West Bengal. The region is served by a national highway and mainline railways. To date, 3 pilot wells have been drilled and the company expects the drilling of a further 20 wells to commence during the first quarter of 2006. The development plan for the project involves drilling 100 wells over an estimated four year period. The first three wells were completed successfully, with all wells drilled, cased, cemented, logged, perforated and fractured. From the core well samples Schlumberger has estimated that the total gas-in-place in Great Eastern Energy's licence area is approximately 1.386 tcf. Great Eastern Energy placed 18.8m Global Depository Receipts ("GDRs") with institutional investors at a price of 101p and listed on AIM in December, 2005 The proceeds of the Placing will be used to fund infrastructure projects and to develop the first 20 wells of the company's development plan to become a supplier of Coal Bed Methane in West Bengal. Market Cap. Market cap. consists of 544,619,499 ordinary shares of 1 INR each. The Company has 76,222,347 Global Depositary Receipts admitted to trading on AIM, each representing 5 ordinary shares which amounts to approximately 70% of the Company's issued share capital. Contractors Drilling : Logging and perforation : Cementing and fraccing : | gardenboy |
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