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Great Eastern Energy Corp Ltd - Asansol, India-based coal bed methane company - Posts higher profit in the financial year that ended March 31, as ‘average gas sale prices remained strong’.
Pretax profit climbs to $8.4 million from $6.7 million a year ago. Revenue grows to $27.2 million from $26.3 million.
Says its high estimate of original gas in place at Raniganj is 10.62 trillion cubic feet, 15% above the prior estimate. Best estimate of aggregated original gas in place of 6.13 trillion cubic feet remains unchanged, firm adds.
Current stock price: 20.70 pence
12-month change: up 21%
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