GEECL Markets and Distributes Coal Bed Methane in India for the first time

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) August 21, 2007 -- Kolkata, July 14, 2007: Great Eastern Energy Corporation (GEECL) a part of YKM Holdings Group makes CBM available for commercial sale purpose for the first time in India at Asansol.

With the completion of the drilling of 23 vertical production wells by GEECL, Coal Bed Methane would be available in India for commercial sale purpose from 14th of July’07 priced at rupees 30 per Kg for CNG.

Speaking on this occasion, Dr. Manmohan Singh, Prime Minister said, “I am pleased to learn that Great Eastern Energy Corporation limited is making the first sale of its gas at Asansol. It is note worthy that this will be the first Coal Bed Methane sale in India..”

Speaking on the occasion, Mr. Prashant Modi, President and Chief Operating Officer, GEECL said, “We are proud to be India’s first private sector company that has ventured into Coal Bed Methane exploration, production, marketing and distribution. With the nation requiring higher energy sources to sustain its development pace, we are confident that CBM will play an important role as one of the prime energy source for the future generations.”

Steel & Sponge iron plants, Ceramic industries, Alloy Steel plants, bakeries, glass & chemical industries shall immensely benefit from CBM Supplies in and around Asansol area. GEECL has already signed an MOU with IOCL for sales and distribution of CBM as Piped Natural Gas and CNG. CNG retail outlets are being set up from Durgapur to Barakar.

About GEECL:

Great Eastern Energy Corporation Ltd. (GEECL), a part of the YKM Holdings Group, is the first Private Sector Company in India to explore, develop, distribute and market Coal Bed Methane. In December 2005, GEECL became the first Indian Company to be listed on the London Stock Exchange's Alternative Investment Market (AIM). The notional market capitalisation of the Company as of July 13, 2007 was GBP 172 million / US$ 350 million. Learn more about GEECL on www.geecl.com.

Prashant Modi - President & COO

Mr. Prashant joined the YK Modi Group in 1996 and was involved with the restructuring of a group company operating a significant tea estate business and its subsequent sale to Unilever. Prior to this he held positions at Qualcomm. Inc. in San Diego, USA and ANZ Investment Bank in London. He holds a degree from Boston University in Bachelor of Science in Business Administration. His concentration was in finance with a minor in economics. He has also completed an executive education program at Harvard Business School. He is responsible for the day to day affairs of the Great Eastern Energy Corporation Limited. Read more about Prashant Modi on www.prashantmodi.com

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