India's first commercial producer of coal bed methane - Great Eastern Energy Corporation Ltd is planning to raise funds by offloading upto 10% of it's shares through an IPO in 2013.

Great Eastern Energy Corporation is already listed on the LSE's AIM with a market cap of R2840Cr. GEECL was listed on London Stock Exchange's Alternative Investment Market in December'05 and in May 2010, the Company’s GDRs were admitted to the main market of the LSE.

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GEECL is a fully integrated, leading Indian Coal Bed Methane (CBM) company focused on the monetisation of natural gas from coal seams. GEECL is a vertically integrated gas supplier and is connected to customers in the Raniganj (South) block by an owned and operated dedicated pipeline network.

GEECL Stock Price



GEECL’s assets include the Raniganj (South) block (210 sq. km / 52,500 acres) in the Damodar Valley, 185 km from the city of Kolkata, West Bengal with an estimated Gas-in-Place of 2 TCF (As certified by Netherland, Sewell & Associates Inc), on which, GEECL commercialised CBM for the first time in India in 2007. In 2010, GEECL was awarded the Mannargudi block (667 sq. km / 166,750 acres) under the CBM round IV. The estimated Gas-in-Place as per the Directorate General of Hydrocarbons (DGH) is 0.98 TCF.

GEECL has also signed a franchise agreement with Indian Oil Corporation (IOC) and Bharat Petroleum Corporation to set up CNG dispensing stations at their outlets in the region. It is also planning to bid for ONGC's CBM blocks in eastern India

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