Great Eastern Energy may bid for CBM blocks

The Great Eastern Energy Corporation (GEECL) is likely to be one of the bidders for the fourth round of Coal Bed Methane (CBM) block auction.
 "We are looking to bid for CBM blocks opened in fourth round of auction by the government, currently assessment of the resources opened under auction is being done," Chief Operating Officer GEECL Prashant Modi told reporters here today.

The ten blocks offered under CBM-IV auction by the government cover an area of about 5,000 square kilometres and are spread over Assam, Jharkhand, Orissa, Madhya Pradesh, Chattishgarh, Maharasthra and Tamilnadu.

The bidding for CBM blocks ends on October 12, for which the government is at present holding roadshows globally, sources said.

Currently, GEECL produces CBM from its block in Raniganj in West Bengal, which is spread across on aggregate area of 210 square kilometres, company statement said.

"The company has completed 30 wells as on July 2009, with 23 additional wells in various stages of completion, and has commissioned one gas gathering station," Modi said.

GEECL plans to dilute 10 per cent of company equity holding through initial public offering (IPO) route in India. "We plan to raise Rs 400 crore from the market by this year end, Modi said.

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Prashant Modi speaks about the Natural Gas

While various structure suppositions on the subject of "fracking" or coal mine methane, Prashant Modi elucidates that coalbed methane extraction is a more powerful, practical and more secure methodology to accumulate Natural gas.

According to Prashant Modi, the various misinterpretations including trademark gas have headed various customers and business dares to markdown the imperativeness holding all around. Nevertheless, various may be astonished to find that trademark gas is truly an extraordinarily commonsense, eco-obliging holding that could help improve economies and social requests over the globe.

Despite the way that GEECL and Prashant Modi have demonstrated the brisk progression happening in the vitality business and the standard gas market, he notes that there is still a considerable measure of myths influencing the advancement of this creative stock.

At Great Eastern Energy Corporation Limited (GEECL), Chief Operating Officer and President Prashant Modi endeavors to pass on new measures in India's vitality industry. Prashant Modi and his gathering continue augmenting operations in coalbed methane as a green alternative to fossil fills.

Prashant Modi urges the all inclusive community to take in all the more about normal gas and reality about this skilled holding.

Here are just several outlandish myths that have influenced many individuals a long way from this brain blowing fuel source:

Regular Gas is Not Eco-Friendly 

The fundamental disarray that, all things considered, influences the advancement and progression of normal gas stakes and usage is that it is not a green choice to fossil forces. In any case, it is crucial to appreciate that trademark gas is truly much cleaner and more secure for the earth than outdated fossil fuel possessions, for instance, oil and coal.

An endless section of general gas is methane, which is not hurtful and is truly renewable. Without a doubt, experts are making more unmistakable methodologies to mass produce general gas from regular waste materials, including sewage and garbage.

For Prashant Modi, it is principal for individuals when all is said in done to better perceive how regular gas could be seen as a renewable possession. Describing this advantage a long way from fossil fortifies is principal to help popular sentiment get a handle on the benefits that trademark gas can give.

Characteristic Gas is a Dangerous Explosive 

While trademark gas does hold the likelihood to touch off, various misconstrue this manufactured property to suggest that the benefit is a risky perilous that could begin demolition.

Trademark gas on its own is not a perilous. To be totally straightforward, for the resource for attempt and blast into flares the air must have a certain storing up of methane and the ignition source must be more than 1,000 degrees Fahrenheit.

Diverged from fossil forces and other essentialness holdings, trademark gas is truly less precarious and considerably more secure for open use. These qualities straightforwardness customer concerns, and additionally help more secure working conditions for those working at drill regions.

Characteristic Gas Will Run Out 

Though various countries, for instance, the United States—have adequately exploited endless stores of trademark gas, some now acknowledge that this advantage is compelled.

Geologists, investigators and other imperativeness industry experts have headed enough research to show that there are bounteous stores of trademark gas underneath the world's surface. Prashant Modi clears up that these stores may show significantly all the more expansive with further examination.

Notwithstanding the way that the current stores of trademark gas were by one methods or an alternate confined, Modi references the renewability of the advantage as "biomethane."

With further research and establishment, it is exceptionally possible that the imperativeness business could evaluate how to reliably convey regular gas from waste materials, or biomass; an answer that would make trademark gas holdings ever-bounteous.

Regular Gas is Unreliable 

Various customers now fathom that starting late, regular gas stores have stretched over the globe. Hence, Prashant Modi is focused on extending India's stores through GEECL coalbed methane extraction.

Disregarding the high holds of regular gas, various acknowledge that it is not a robust fuel and that it doesn't give the same number of livelihoods as people may think.

The truth is that general gas has various use and that its suitability continues increaing with more noticeable help, examination and research on the benefit.

According to Modi, it is fundamental to fathom that distinctive sorts of green, renewable imperativeness, for instance, sun fueled and wind power are customarily dependent on natural conditions. Interferences in these renewable establishments can make it hard to deliver strong imperativeness from normal holding.

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Origin and Growth of GEECL in Coal-Bed Methane

GEECL was initiated by the West Bengal Minister of Commerce and Industry, Mr Nirupem, who commented that the beginning of Coal-Bed Methane and compacted gas deals are certain to diminish contamination and convert the substance of industrialisation in the territory. India's head administrator, Dr Manmohan Singh additionally remarked, expressing that he was satisfied to catch wind of the deals, as the misuse of this regular asset will more likely than not be of incredible use in gathering the nation's steadily developing requirement for vitality.

GEECL company is in the investigation, improvement and result of a substance called coal cot methane, has proclaimed that it has started to offer its CBM to modern organizations, and its subsidiary item, packed regular gas, to fuelling stations found around Asansol city in Western Bengal. Prashant Modi, the CEO of the organization, has said that the current values they are getting are going in the middle of $13 and $16mfc.

Prashant Modi included that he and his administration group at GEECL were pleased to be the first organization inside the private segment to effectively investigate, deliver and circulate coal cot methane. Prashant Modi happened to say that the investment development of India relies on upon whether its vitality needs could be met, and coal cot methane will assume an imperative part in guaranteeing that they are.

Whilst GEECL has been included in the business for quite some time, Prashant Modi clarifies that it started its misuse of coal bunk methane in 2005, when it figured out how to raise the essential capital – more than £19 million by means of the affirmation of Gdrs (Global Depository Receipts) on money markets. Today, Prashant Modi gauges the estimation of the organization to be at £170 million. GEECL now holds the obliged permit it requirements for the investigation for coal bunk methane inside the Raniganj Coalfields hinder in Western Bengal, which is more than 210 sq km in size, and focused around the exploration led into the coal creases around this zone, the investigation is liable to yield immense measures of coal cot methane.

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"what's to come is brilliant for CBM" ,says Prashant Modi

Coal Bed Methane by Prashant Modi Expansion arrangements are in the works for CBM maker GEECL, as per Prashant Modi. The organization has been honored the Mannargudi CBM square, found in Tamil Nabu, in spite of the fact that generation has not started, Prashant Modi clarifies, as GEECL are even now anticipating natural freedom from the legislature. This has not dissuaded them nonetheless, Prashant Modi as of late declared that GEECL had offered for yet an alternate CBM piece placed in Raniganj. As they have no plan of venturing into customary coal mining, all venture cash is presently being put towards CBM creation opportunities.

Albeit Prashant Modi is for the most part extremely hopeful about the eventual fate of coal couch methane generation, he has expressed that it will in all probability keep on being a little player in the aggregate vitality sources utilized by the nation for the following couple of years. Then again, this will change as more wells are up and running, Prashant Modi predicts, as coal cot methane is naturally agreeable, as well as profoundly gainful for the residential business. In the event that appropriately investigated and created, it will have the capacity to meet around fifteen percent of the nation's vitality needs throughout the span of the following ten years.

GEECL has likewise been making headway with its gas pipeline development – its initial one compasses more than twelve kilometers from Asansol's Central Gathering Station, up to its Gas social occasion station. This pipeline, Prashant Modi includes, will be a piece of a system which is vertically coordinated and comprises of boring, CBM creation, methane squeezing and transportation, and in addition dissemination. The new gas pipeline is to pander to the vitality needs of those in the Asansol and Burnpur ranges, and will at a later stage give characteristic gas to Durgapur and Kulti. There are likewise arranges underway for pipeline development along the eastern coastline, after the organization got authorization from the National Highway Authority of India. Prashant Modi commented that he and the group at GEECL were exceptionally satisfied with the accomplishment of the pipeline, as this speaks to a critical turning point for the organization

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Prashant Modi's (President of GEECL) History

Mr. Prashant Modi joined GEECL in 1996 and has been dealing with its operations starting there and into the future. He is a visionary man who has made the association accomplish statures through his data and dedicated work. He has helped inconceivably in the cases of overcoming misfortune of GEECL. Mr. Prashant Modi has stamped region in the business with productive errands and change through GEECL. 

Mr. Prashant Modi is the pioneer who has focused obligation in the routine operations of the Company. He is accountable for customary operations of the Company and controlled the  Company's tries in association with the posting of the Company's Gdrs at the Alternate Investment Market in the London Stock Exchange in 2005 and 2006, and from that point on moving them to the essential heading gathering of the London Stock Exchange in May 2010. 

Mr. Prashant Modi has picked up a degree in Bachelor of Science in Business Administration from Boston University, USA with a significant in cash. Additionally, he should moreover be extolled for his relentless attempt to development them to the essential heading group of the London Stock Exchange. He was viable in accomplishing the same in May 2010. 

Mr. Prashant Modi takes after a direct rationality in life. He acknowledges, "We live and work in the gatherings where we work and consider our commitments to popular society vital." This demeanor has accomplished a discriminating change in the association's relationship with the agents and business associates. GEECL has grabbed various gas arrangements contract and Mous, transforming into a pioneer in the business. 

Mr. Prashant Modi is the man of obligation. Great Eastern Energy Corporation Limited, headed by him, has signified its region in the business with a stretching store results at the Raniganj (South) Block. The association, under Mr. Prashant Modi's bearing, is submitted in living up to expectations towards the general change of the business.

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A meeting with Prashant Modi

Great Eastern Energy Corp. (Geec.ln), the first organization to begin business generation of gas in a coal cot methane improvement in India, will put up to Us$500 million in the following three years to create its holds, in the east of the nation, a top organization official said.

The organization, which has officially put $50 million in value and raised $25 million through obligation financing, will settle an alternate $65 million of financing not long from now, Prashant Modi, President and Chief Operating Officer for GEECL told Dow Jones Newswires.

"We are putting about $140 million in the first stage, for the initial 100 wells. We'll bore up to an alternate 200 wells in the second stage after 2010, and the aggregate upstream speculation will be around $400-$500 million," Modi said.

The organization is additionally in chats with state-possessed Indian Oil Corp. (530965.by) to structure a joint wander organization for midstream and downstream operations, which would require an alternate $500-$700 million in speculation, pushing the general venture to over $1 billion-$1.2 billion, Modi said.

CBM tasks expect to catch methane gas implanted in coal creases that are unminable because of high water substance and weight.

Wells are penetrated into the coal stores and the regular gas discharged is layered and channeled to the business sectors.

Coal cot gas has been concentrated in the U.s. for as long as 15 years or somewhere in the vicinity, and this now records of around 7% of household regular gas yield.

In India, deliberations to muster enough nerve to maintain current high monetary development are social affair pace. India offered its initial seven CMB hinders in a sale six years back.

Presently, the administration has finished three rounds of offers and opened up 26 pieces totaling 13,600 sq kilometers to CBM penetrating.

The Directorate General of Hydrocarbons, India's upstream controller, says CBM assets in the honored pieces are assessed at 1.37 trillion cubic meters or 48.38 trillion cubic feet, with a yield capability of nearly 38 million standard cubic meters or 1.34 billion cubic feet of gas a day.

GEECL, which is recorded in London Stock Exchange's Alternative Investment Market, began business yield in late July.

As per Netherlands, Swell and Associates, an asset assessment organization, GEECL's piece contains an expected 1.92 trillion cubic feet of gas, or around 200 million barrels of oil proportional.

"With the current store assesses, the normal generation from 300 wells over the lifetime of the square will be around 350 million-400 million cubic feet or 8.4 million to 11.32 million cubic feet of gas a day," Prashant Modi said.

"The (IOC joint wander) organization is even now being situated up. It'll be a free organization for midstream and downstream operations. It'll put resources into pipelines, transportation and dissemination," Modi said.

Modi included GEECL is likewise arranging with modern purchasers for long haul off-take understandings and will probably settle an arrangement in the following six to eight months.

"We'll supply 25% of our creation for packed characteristic gas vehicles, 25% for little shoppers and half for offer modern clients," Modi said.

He included that discussions were underway with Damodar Valley Corp. furthermore Steel Authority of India (500113.by)-claimed Durgapur Steel Plant and Indian Iron and Steel Co. for long haul supply understandings.

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Methodology of Generating Electricity with Natural Gas by Prashant Modi

The essential non-private utilization of common gas is power era. As per Prashant Modi all inclusive, there is a steadily expanding requirement for power, which is coupled with the high expenses of sun based and wind vitality, as far as possible on commotion, water, and air contamination, and the decreased tolerances for hydro and atomic arrangements. This has brought about gas-let go power era turning into one of the not very many choices left for service organizations. Since the cost of fuel records for very nearly two thirds of the cost of power, the expense adequacy of the fuel utilized for its era is of foremost significance.

Coal has been the predominant fuel for a large portion of the power force plants far and wide. Then again, the greatest downside of this fuel is the contamination which it discharges amid ignition. Present day common gas power plants are much cleaner, also significantly more productive than coal plants. They are likewise cause less contamination and commotion, and are less expensive to build. Prashant Modi additionally says due to these components, getting grants to construct these plants is regularly far simpler than it would for the development of an atomic or coal plant.

There are a few various types of gas-fueled electric plants, including steam power and joined cycle plants. In a traditional steam force arrange, the regular gas is put in a steam generator, which then creates steam that powers a huge turbine, which accordingly produces power. Amid this process, the generator produces waste hotness, and the turbine low weight steam. The recent can now and then be utilized for warming, if the interest exists anyway it can't be utilized to create more power.

Interestingly, joined together cycle plants create power specifically from a common gas generator, after the gas is blazed in a turbine. Force is additionally created from steam, which is delivered from the hotness of the characteristic gas generator. Since common gas generators dependably run at high temperatures, Prashant Modi says that the steam produced from the hotness of the turbine has enough vitality to drive a second steam fueled turbine. In this way, joined together cycle plants are for the most part thought to be the most effective common gas power plants.

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