Great Eastern Discussion Threads

[lewseyfarm] 11/5/2009 21:24

hello anybody left in this share??????????????????

[lewseyfarm] 11/5/2009 21:23

Great Eastern Energy Corporation Limited (GECL), a company involved in the exploration, development and production of coal bed methane in India, announced that it has successfully commissioned its second natural gas pipeline extending 12.35 km from its Central Gathering Station in Asansol to Kulti, West Bengal from April 19 onwards. This is the Company's second Coal Bed Methane ("CBM") gas pipeline and will be part of a vertically integrated network consisting of drilling, production, compression transportation and distribution services.

This 12" steel pipeline is capable of carrying one (1) mmscmd of gas at 15 bar and will be catering to the requirements of customers in the Burnpur, Asansol, Neamatpur, and Kulti area.Prashant Modi, President and Chief Operating Officer, Great Eastern Energy Corporation Limited, commented: "Great Eastern Energy is delighted to commission its second trunk pipeline connecting its Central Gathering Station to Kulti, thus achieving another milestone in the construction of its pipelines and midstream infrastructure.

As of January 27, 2009, the Company had laid 31.97 km of the MDPE pipeline within its license area, connecting 22 wells to the Gas Gathering station. A contract for connecting the other wells has been finalized and work is expected to start within the next three weeks.

The Company has also laid 24.27 km of the steel pipeline, as on April 15, 2009, which connects the Central Gathering Station in Asansol to Durgapur through the towns of Nigha and Raniganj. The pipeline upto Nigha is nearing completion and partial testing of the same has commenced.



Source: Commodity Online

[dibbs] 03/9/2008 00:29

Good to see forward sales deals in place although the Kedia deal is for 5 years in total with a fixed price. It appears that they see gas prices remaining level for the next 5 years, can't see it myself, have they sold themselves short on that one? I'd expect prices in 5 years to be somewhat higher?

Not quite sure what to make of GEEC really on the current news.

Dibbs

[mw8156] 02/9/2008 19:27

Info on production not given in the latest trade update...

[mw8156] 02/9/2008 19:27

Info on production not given in the latest trade update...

[cyprussteve] 18/8/2008 20:36

Can anyone make head or tail of today's RNS ? - I am afraid much of the terminology is completely new to me !!
There is no indication as to the price of the IPO, although clearly there will be significant share dilution, albeit for good reasons.
The infrastructure is all in place, and, if they can rid themselves of their debt, it should become a "cash cow", in my humble opinion.
I believe there is a trading update due, as there was one late August last year, and, my feeling is that IF this is positive, they may be able to get the IPO away at a higher price than currently.
I would welcome all views on this,
Regards
Steve

[dorset64] 14/8/2008 22:33

Cheers Steve. Thanks also for the recent email of which was useful. I have found pretty much the info I need/wanted so far so am getting, eventually, pretty clued up now. Hows things, trust all is well.

[cyprussteve] 14/8/2008 22:27

A few more views on the above - extract below :
"GEECL plans to invest Rs 200 crore every year over the next three years to increase production to 35 million standard cubic feet per day (mmscfd) of gas by 2010 from the CBM field, which lies between Asansol and Raniganj in Burdwan district.
The company hopes to reach 5 mmscfd of gas production by the end of 2008 from 2.6 mmscfd now by drilling more wells.
GEECL has recently received a loan of Rs 350 crore from the State Bank of India to finance its project.
It has already spent Rs 250 crore on the project. Modi said investment would be Rs 500 crore every year from 2010 to reach the targeted level of 100 mmscfd of gas by 2014"
OK - it will require additional loans to achieve this - ( but given the Companys track record for obtaining finance, without share dilution ) - a target forecast of "100 mmscfd of gas by 2014" as against "5 mmscfd of gas production by the end of 2008" seems to me to offer a highly attractive growth opportunity, in a market that I feel is relatively safe. and , given the growth in the Indian population and economy, an increase of 20 times production in the next 6 years appears to me to be a rather attractive investment, and significantly in advance of a loan interest rate p.a. of say some 7 to 8 % !!
I would welcome other views as to the credibility of my calculations.
I have no doubt at all that from Mr Modi's previous track record that he knows EXACTLY what he is doing, as is witnessed by his own massive personal shareholding of over 60%.
Of course, as always, these are only my own views, and, in the current bear market there is no such thing as a "safe" share.
Regards
Steve

[dorset64] 12/8/2008 18:30

Hi Steve, still watching and eventually researching. What is the free float here and how much is taken by Directors/Insti's. I could look on the website but is this up to date figures?

How far along is the pipes laying plus is the customer for the pipes been signed yet. If you want to you can email me on the usual.

Trust all else is well and things are good with you at the moment.

Dorset.

[cyprussteve] 08/8/2008 21:58

An interesting read.

[cyprussteve] 24/7/2008 20:06

Off topic - for those intersted in a quality share for long term investment - may I suggest looking at GDP - no ramp intended, but I sincerely believe this one is worth your while researching.
Regards
Steve

[cyprussteve] 24/7/2008 18:42

Investor presentation - worth a read:

[cyprussteve] 24/7/2008 12:05

Share Tip below:

[gardenboy] 13/6/2008 20:08

interesting, thanks lasata

[lasata] 13/6/2008 15:57

Minesite:

June 13, 2008

India Plans To Increase Power Capacity Massively Over The Next Five Years, With Clean Coal As The Primary Energy Source


By TC Malhotra in New Delhi



The Indian Coal Minister, Mr. Santosh Bagrodia has announced that the federal government has made it mandatory that there should be 100 per cent washing of all Indian Coal. Inaugurating a conference on Clean Coal for Green Power in New Delhi, the minister said that to sustain Indian economic growth at eight per cent, the country requires energy security in the face of rising prices, as well as more power for sustaining the industrial and economic growth. The current thinking is that India's energy requirement by the end of its 11th Five Year Plan, which runs from 2007 to 2012, will be over 200,000 MW. That represents an addition of over 78,000 MW, or growth of about 40 per cent.
Around 79 per cent of the power generated in India is derived from coal. By the end of 11th Plan, the demand for coal should be roughly 732 million tonnes per year, up from the present level of 466 million tonnes. Presently, the annual incremental growth of coal production of coal is around six to seven per cent, and even that needs to go higher to around 10-12 per cent just to meet the immediate coal demand.

The minister highlighted that clean coal offers the benefits of lower ash content and fewer impurities. The ash content of some Indian coal is higher than 40 per cent. He also addressed concerns about pollution from the methane gas associated with coal deposits, recognizing that there are opportunities to commercially exploit that methane. And Mr Bagrodia also wants more recycling of power station emissions like carbon dioxide, sulphur dioxide and nitrous oxide. So looking ahead, the Indians are keen to lay the emphasis on clean coal technologies and those surrounding coal bed methane, coal mine methane, coal liquefaction and underground coal gasification.

Washing coal can reduce ash content by 10 per cent, while the resulting product is also more energy efficient. The pressure on the fly-ash disposal ponds would also be reduced as the material to be disposed of would be considerably less.

According to the minister the government is aiming at a capacity of 250 million tonnes per annum in the next five years. Another important area that the government is exploring is whether underground coal gasification can be taken up on non-minable deposits where commercial coal production is not possible. The government has identified around 229 coal blocks of which 182 coal blocks were allotted to various private public entrepreneurs with the aim of mining a further 100 million tonnes per annum to directly feed power generation in the country. The government has also sanctioned 26 coal blocks for the production of coal bed methane or for coal gasification. Commercial production has already started in the Raniganj Coalfields.

The Minister appealed to the experts gathered at the conference to concentrate on two prime issues: minimizing pollution and emissions through greater use of clean coal technologies, and addressing the high costs associated with these technologies. The minister appealed to coal companies to step forward to take up clean coal technologies so as to reduce emissions and minimize global warming.

Industry analysts say that coal is an abundant source of non-renewable fuel across the world, but the quality of coal varies significantly by region. Demand for coal has increased significantly over the past 30 years. This trend is expected to continue at an even faster rate in upcoming years, with most of the rise in demand coming from China and India. The increase in coal consumption stems mainly from the need for more electricity in both of these countries.

[gardenboy] 05/6/2008 20:30

nice day,

more GEEC news/info/media links here,

[ranag9] 04/6/2008 16:26

Let GEECL go public in India then see its real potential as a bagger. I assume £5/adr is not a dream but reality.India is starving for natural resources and they can soak world`s energy as a sponge.Consumption for 1bn population of these resources in India is continous.Still time to get in and think long term till Feb.2009 after that it is all happiness and my pension money grows.

[cyprussteve] 22/5/2008 10:19

I have just spoken to Tom Fyfen of Arden Partners, their house brokers - the info I managed to obtain was as follows:
1) The brokers note is only available to institutions, and he could not send it to me, but, when I pressed him he did confirm the target price as being £5.

2) He could not - or would not - give me a date for the Company being listed in India, which would hugely improve liquidity, and probably narrow the spread - but, he said " all is going to plan, and an RNS will be made when it is finalised"
3) Date of results confirmed as June 3rd.
4) I quizzed him about all the recent buys over the last few weeks at mid price , and he said I was making a "reasonable assumption" that it would be either Institutions or an extremely wealthy professional investor who had good relationships with his broker.
I wait with anticipation !
Ciao
Steve

[cyprussteve] 22/5/2008 08:55

Hi garden boy,
Do you have a copy of the Arden brokers note ? - if so, could you kindly email it to me at [e-mail]
Many thanks
Steve

[cyprussteve] 18/5/2008 18:21

There is clearly an Institution buying in almost daily at mid price and taking a large stake - with year end results due June 3rd, and the Chairmans massive holding of 64%, this Company has a great future, and I think will rise sharply on year end results, as it is currently very little known.
Regards
Steve

[ranag9] 15/5/2008 22:06

As already I have said. It is still time to get in.one Director has bought considerable shares recently and it is a perfect indication of its future strength. Soon they will have contract to supply methane gas to steel making plants and they are also with a company making Eletricity producing generators run on methane gas.Gas demand in India is enormous. They can filter dirty water and drink but can`t do anything without fuel.Potetial high so ...... Dyor.