Great Eastern Energy Corporation Ltd (GEECL), a Y.K. Modi accumulation company, affairs to appear out with a accessible affair in India during end-2008.
GEECL is the alone aggregation so far to commercially aftermath coal-bed methane (CBM) from its Ranigunj block in West Bengal. The company’s GDRs are listed in the AIM (Alternative Investment Market) articulation on the LSE.
The aggregation broke adopted shores to accounts its basic amount in CBM analysis during end-2005. The GDR affair aswell becoming GEECL the acumen of bringing FDI into CBM exploration.
According to Mr Y.K. Modi, Chairman and CEO, as per the RBI guidelines, during the GDR affair the aggregation was accepted a three-year aeon catastrophe in 2008 to account its shares in India. “We are now planning to appear out with an affair in Indian bazaar for advertisement our shares actuality in the additional bisected of 2008-09.” On the attributes of the issue, he said it would primarily be a beginning affair arch to bordering concoction of the promoter’s pale from the absolute 65 per cent. “We may not adulterate added than 5 per cent of promoter’s stake,” he added.
Sources in merchant cyberbanking amphitheater told Business Line that the aggregation may top up its absolute basic abject of Rs 55 crore with a Rs 10-crore accessible issue.
The bazaar float will be maintained with absolute GDR holders accepting the advantage to catechumen to shares.
Meanwhile, GEECL (www.geecl.com) has accustomed sanction for Rs 350-crore debt-finance from an SBI-led bunch for its acute conduct programme alpha this month. Having stabilised assembly at 2.6 actor cubic ft a day from 23 wells in a amount of six months, the aggregation has now undertaken a programme to assignment three wells a months for the next two years to ability the targeted able-bodied absorption of 100. “Our basic amount is called at Rs 15-20 crore a ages for the next few years,” Mr Modi said.
Apart from drilling, amount is aswell traveling appear laying gas pipelines abutting industries and the CNG dispensing stations at the IOC retail outlets in and about Asansol. Gas sales on a bartering calibration will alpha in April this year. The aggregation has already witnessed austere enquiries from SAIL-IISCO ability and Chittaranjan Locomotive Works amid in the neighbourhood.
To apperceive about Mr Prashant Modi, the President and COO of GEECL. Visit the official website at www.prashantmodi.com.
Dolly Tayal, Genesis B-M
dolly.tayal@bm.com - +91 9899101140
807-B Signature Towers, South City,
Gurgaon 122 001
Tel: +91 124 408 8999,
Fax: +91 124 408 6663
At Genesis Burson-Marsteller we accept acceptable accessible relations can body and breeding acceptability accumulated or casting - which is what we're actuality to do for you.
2009年12月16日星期三
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
Dolly Tayal, Genesis B-M
dolly.tayal@bm.com - +91 9899101140
807-B Signature Towers, South City,
Gurgaon 122 001
Tel: +91 124 408 8999,
Fax: +91 124 408 6663
At Genesis Burson-Marsteller we accept acceptable accessible relations can body and breeding acceptability accumulated or casting - which is what we're actuality to do for you.
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
Dolly Tayal, Genesis B-M
dolly.tayal@bm.com - +91 9899101140
807-B Signature Towers, South City,
Gurgaon 122 001
Tel: +91 124 408 8999,
Fax: +91 124 408 6663
At Genesis Burson-Marsteller we accept acceptable accessible relations can body and breeding acceptability accumulated or casting - which is what we're actuality to do for you.
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