Great Eastern Energy Corporation Ltd. (GEECL) - Arden Partners hails Eastern promise

Great Eastern Energy fanned the bonfire of broker activity for coal-bed methane if its abode agent set a 500p amount ambition on the aback of the India-focused company’s contempo conduct success and badly added estimates of its reserves.

Arden Partners could almost burrow its joy. “A sales acceding with one of the above animate plants in the [Indian] region, conceivably by mid-year, will authenticate pricing, appeal and deliverability,” it predicted. Shares in Great Eastern leapt 27½p to 222½p.

The blitz of broker abutment in the area began if BG Group launched a bid for Origin, the Australian producer, which food China with the gas extracted from atramentous seams in Queensland.

Shares in Island Oil and Gas, the charlatan whose shares accept been formed by debt and abridgement of bearing assets, rose 9p to 30p afterwards it awash its Amstel oilfield off the Netherlands, for $25 actor (£12.76 million) in banknote and a $10 actor loan, a big accumulation on its $800,000 investment. It will use the money to accord an beforehand loan. Davy, the abode broker, ethics the accumulation at aloft 80p per share.

MDM Engineering, which builds processing plants for mid-sized miners in Africa, rose 4½p from its 145p float amount on its aboriginal day of trading on AIM.

Colliers CRE, the bartering absolute acreage consultant, fell 13p to 61½p afterwards Sir John Ritblat, the chairman, said that fees this year would be below expectations as audience are abbreviation appointment amplification plans.

Northern Petroleum rose 9p to 140½p on gas assembly from its Netherlands fields that were college than expected.

About GEECL:
Great Eastern Energy Corporation Ltd. (GEECL), a allotment of the YKM Holdings Group, is the aboriginal Private Sector Company in India to explore, develop, deliver and bazaar Coal Bed Methane. In December 2005, GEECL became the aboriginal Indian Company to be listed on the London Stock Exchange's Alternative Investment Market (AIM). The abstract bazaar capitalisation of the Company as of July 13, 2007 was GBP 172 actor / US$ 350 million.

The organization, headed by Mr. Y.K. Modi, is exploring & developing assembly wells for Coal Bed Methane in Raniganj coalfields, West Bengal. GEECL has completed 23 vertical assembly wells. All the wells are drilled, logged, cased, anchored and fractured. Apart from this 8 Core aperture accept accomplished for desorption and added studies. Learn added about GEECL on www.geecl.com.

Prashant Modi - President & COO
Mr. Prashant abutting the YK Modi Group in 1996 and was complex with the restructuring of a accumulation aggregation operating a cogent tea acreage business and its consecutive auction to Unilever. Prior to this he captivated positions at Qualcomm. Inc. in San Diego, USA and ANZ Investment Bank in London. He holds a amount from Boston University in Bachelor of Science in Business Administration. His absorption was in accounts with a accessory in economics. He has aswell completed an controlling apprenticeship affairs at Harvard Business School. He is amenable for the day to day address of the Great Eastern Energy Corporation Limited. Read added about Prashant Modi on www.prashantmodi.com

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