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Great Eastern Energy Corp Ltd - Indian coal bed methane company - Says it will now start shale exploration programme after executing an amendment to its Petroleum Mining Lease.
Chief Executive Officer says: ‘We are thrilled to achieve this significant milestone by executing an amendment to our PML and will now commence our Shale Programme. Given the large potential Shale Gas resource in our Raniganj (South) block of up to 6.63 TCF of original gas in place, it provides an exciting and excellent growth opportunity for the company.’
Great Eastern says it will now make plans for the initial core wells in the Shale Programme, and then progress to a development plan to drill pilot production wells once the results have been obtained.
Current stock price: up 3.8% at 24.90 pence
12-month change: up 99%
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