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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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27/1/2006 23:04 | A GEEC official claimed that the company will be the first in India to start commercial production of CBM, which will begin in February. He said GEEC has already tied up with Kolkata-based Calcutta Compression and Liquefication Company Ltd for conversion of CBM into LNG. "The conversion will start on a pilot basis from February and will be in use in the Asansol area. If it is successful, then later on it will be rolled out in Kolkata. But before than we need to increase capacity. Other big groups who have blocks in the area are yet to start production. The conversion of CBM to CNG will solve the pollution problem in the city," said sources. | gardenboy | |
27/1/2006 22:59 | Ranigunj CBM gas from Feb `06 The company has 210 square kilometre block Udit Prasanna Mukherji / Kolkata December 14, 2005 Great Eastern Energy Corporation Ltd, the Kolkata based hydrocarbon outfit from Yogendra Modi group, is planning to invest Rs 600 crore for developing coal-bed methane blocks at Ranigunj in West Bengal. The company has 210 square kilometre block in Ranigaunj. An official of GEEC claimed that it is going to be the first company in India to start commercial production of CBM from February. It has already tied up with Kolkata based Calcutta Compression and Liquification Company Ltd for conversion of CBM in to LNG. "The conversion will start in a pilot basis from February and will be in use in Asansol area. If it is successful then later on it will be rolled out in Kolkata, But before than we need to increase capacity. Other big group who has blocks in the area yet to start production. The conversion of CBM to CNG will solve the pollution problem in the city," said sources. Incidentally, besides GEEC, ONGC and Essar group have CBM blocks in Ranigunj area. Unavailability of CNG is a main hindrance in Kolkata to convert public vehicles to CNG. According to sources, GEEC has so far completed drilling in three well and production has started on test basis. The company has invested around Rs 70 crore for so far and planning to invest Rs 100 crore next for increasing the number of wells to at least 50. "We have 1.39 trillion cubic feet gas in place, out of which around 60 per cent is recoverable. Initially, each well will produce 0.5 million cubic feet gas. So the initial production available for CNG conversion will be around 1.5 million cubic feet," added sources. According to the sources, GEEC is hoping to complete drilling in 100 wells in another three years and step up the production to 50 million cubic feet per day. "Our aim is to have 100 million cubic feet production in five years time." | gardenboy | |
27/1/2006 22:42 | The Times December 08, 2005 First Indian business to float in London By Peter Klinger AN INDIAN company hoping to extract natural gas from undeveloped coalfields will announce its intention to list on AIM today, in what will become the first London flotation for a company from the subcontinent.Great Eastern Energy Corp will be valued at £110 million when its global depository receipts (GDRs) start to trade on Tuesday. The company, advised by Arden Partners, has raised £17.8 million through a placement of GDRs and a partial stake reduction by the controlling Modi family.Great Eastern issued GDRs instead of ordinary shares because Indian law forbids an Indian company to have an overseas listing. Each London-listed GDR represents five ordinary Great Eastern shares. The company is chaired by Yogendra Modi, whose family stake in Great Eastern will be reduced from 75 per cent to about 65 per cent at the time of flotation. Mr Modi is also co-managing director, alongside his son, Prashant. Other pre-flotation shareholders include Aidan Heavey and Tom Hickey, the chief executive and finance director, respectively, of Tullow Oil, one of Britain's biggest independent oil and gas companies. Tullow has been operating in India since 1998, but Mr Heavey and Mr Hickey's investment is in a private capacity. Great Eastern has entered into a production-sharing contract over a 210 sq km block in the Raniganj coalfields of West Bengal. Coalbed methane projects involve drilling into coal ore bodies, injecting water and then allowing the gas contained in the ore body to escape to the surface. The projects are commonplace in America. | gardenboy | |
27/1/2006 22:21 | Company presentation January 06 | gardenboy | |
27/1/2006 20:00 | Great Eastern Energy has drilled three pilot production wells in the Surajnagar area, southwest of Asansol. The 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. The desorption tests carried out on the pilot wells showed a CBM content range of up to 426 standard cubic feet ("scf") per tonne of coal (with an average around 250 scf per tonne). Strategy 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. | gardenboy | |
27/1/2006 16:36 | I've had a look for the Schlumberger Report at their own website - can't find it. | gardenboy | |
27/1/2006 08:50 | slap, everyone !!!!!!!!! who's that may I ask? Phil, Morning !!!!!!!!!! It's not that type of methane, lols !! yup, still in EME :~) | gardenboy | |
27/1/2006 08:44 | why the rise ??? Has this been tipped anywhere??????????? I looked at it but thought hmm.. in India, don't know much about management or anything... could do well but not an expert on coal bed methane Why is everyone here so keen??? Slapper | slapdash | |
27/1/2006 08:16 | ps still in EME gb ? :o)))))))))))))))) | philmiboots | |
27/1/2006 08:13 | nice tick up | gardenboy | |
26/1/2006 16:26 | ....and the herd will arrive in their own time | gardenboy | |
25/1/2006 19:20 | "The project plan involves drilling of 100 wells over an estimated four year period in the first phase at an estimated capital outlay of $125 million. The Company may drill more wells (possibly another 200) in the next phases to extract further CBM reserves in the block as estimated by Schlumberger". Huge potential long term growth here, methinks...... | gardenboy | |
25/1/2006 13:57 | borderriever, hope you're well, it's nice to see somebody here ! | gardenboy | |
25/1/2006 13:55 | Interesting company? Just saw your post on Vog thread Gardenboy, into Heritage at the moment, same product different country. Have to keep an eye on this one too now,cheers. | borderriever | |
25/1/2006 13:50 | btw, not all brokers deal in this stock - I know barclays do however. | gardenboy | |
25/1/2006 13:44 | 25 January 2006 GREAT EASTERN ENERGY CORPORATION LTD COMMENCES COMMERCIAL DRILLING IN WEST BENGAL Great Eastern Energy Corporation Ltd ("Great Eastern Energy" or the "Company"), an AIM-listed company (GEEC:LN) incorporated to explore, develop, distribute and market Coal Bed Methane ("CBM") in India, today announced that it commenced commercial drilling of CBM wells in West Bengal on 14th January 2006. The first well has reached a depth of 203.75 metres and the surface casing to that depth has been set. The anticipated Target Depth of this well is around 1200 metres. Great Eastern Energy has become the first company in India to commence commercial drilling of CBM wells in India. The estimated investment outlay for the first 100 wells is 5.75 billion Indian rupees (#73 million) Mr. Prashant Modi, Joint Managing Director of Great Eastern Energy said: "We are delighted to have begun commercial drilling of the first CBM wells in an initial 100 well programme over a four-year period. We expect first gas sales from these wells to commence in Q1 2007" | gardenboy | |
05/1/2006 11:51 | I dont really like these types of "non-financial" announcements. Normally makes me a bit nervous. OK it may be nice to hear that they are getting on with the job and presumably we can be reassured that there are no major snags at this stage but I prefer companies to keep their mouths shut until they have something important to tell us. I will let GEEC off this time (they are probably desperate to make their first announcement) but I dont want a string of non-announcements. | judge jury | |
05/1/2006 09:22 | 5 January 2006 GREAT EASTERN ENERGY CORPORATION LTD TO COMMENCE COMMERCIAL DRILLING AND OUTSOURCES WELL DRILLING AND COMPLETION ACTIVITIES TO WORLD'S LEADING SERVICE PROVIDERS Great Eastern Energy Corporation Ltd ("Great Eastern Energy" or the "Company"), an AIM-listed company (GEEC:LN) incorporated to explore, develop, distribute and market Coal Bed Methane ("CBM") in India, today announced that it will commence commercial drilling of CBM wells in mid-January 2006. Great Eastern Energy joined the AIM market of the London Stock Exchange on 13th December 2005. The Company is also pleased to announce that it has outsourced the commercial drilling, wire line logging & perforation services, cementing & fracturing operations of its commercial CBM wells to three companies with vast experience in CBM projects and technology. The three companies are Mitchell Drilling International Pty Ltd. (Australia), HLS Asia Limited (a collaboration company of Halliburton Energy Services Inc., USA), and BJ Services Company Middle East Limited (a subsidiary of BJ Services Company, USA). With this development, Great Eastern Energy becomes the first company in India to commence commercial drilling of CBM wells in India. The estimated investment outlay for the first 100 wells programme of Great Eastern Energy is 5.75 billion Indian rupees (#73 million) Mr. Y.K. Modi, Chairman and Managing Director, Great Eastern Energy said: "We are delighted to be moving forward with our drilling programme and utilising the expertise and knowledge of these world class service providers in the construction of our CBM wells. Although CBM is a new concept in India I am confident that the Company will increase shareholder value with this exciting drilling programme". | gardenboy | |
04/1/2006 18:49 | So anyone into or been into this stock........ | lukee2 | |
21/12/2005 18:09 | and a director bought some too.... The Company was notified on 20 December 2005 that Paul Zuckerman, a non-executive Director, purchased 17,000 GDRs each representing 5 ordinary shares of 1 INR in the Company on 13th December 2005 at a price of 115p each. The aggregate holding of Paul Zuckerman following this purchase is 17,000 GDRs. | gardenboy | |
19/12/2005 09:22 | signed form ( W8 den ) needed at Share Centre before any dealing in this share in order to satisfy their compliance dept. (to protect me/ them in cases of double taxation apparently ) no problem buying at Barclays though. | gardenboy | |
17/12/2005 00:07 | Busy chap this Mr Modi...... | philmiboots | |
17/12/2005 00:06 | lol!....did a search on him and nothing came up! - you've obviously got a better engine than me, Phil :~) ps. I missed out the Kumar ! | gardenboy | |
16/12/2005 23:59 | NEW DELHI OCT. 17. Yogendra Kumar Modi was today elected the next President of the Federation of Indian Chambers of Commerce and Industry, succeeding A. C. Muthiah as head of the premier Indian industry body. Mr. Modi, Chairman of YKM Holdings and Great Eastern Energy Corporation, will assume office after the 76th Annual Session of the chamber later this year, according to a FICCI announcement. He is also the Chairman of Modi Telecommunications, a radio paging service firm and Indianpurchase.com Infoware. A member of the Dean's Council at the John F Kennedy School of Government, Harvard University, the FICCI's President-elect had earlier headed the banking and finance committee of the organisation. He is also president of the All India Alkali Manufacturers Association. (Should help if investing in this outfit brings on indigestion) ;o) | philmiboots |
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