Released on = August 20, 2007, 2:03 am

Press Release Author = Megha Sabhlok

Industry = Industrial

Press Release Summary = CBM India's future Energy source priced at RS 30 per Kg as
CNG.

Press Release Body = Kolkata, July 14, 2007: Great Eastern Energy Corporation
(GEECL) a part of YKM Holdings Group and the pioneers in bringing in technology for
exploration and development of Coal Bed Methane 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. Initially 90% of the CBM would be
distributed among vehicles as CNG gas. GEECL is also setting up the first CBM
station in SE Asia and the same will be located in India in the city of Asansol in
West Bengal. Also, GEECL is the first company whose first field development plan has
been approved.

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. The commercial exploitation of Coal bed Methane will certainly help in
meeting India's growing energy needs."

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.

Mr Prashant Modi, Chairman and Chief Executive Officer, GEECL, further added,
"Investment in coal and gas transportation infrastructure, including gas gathering,
transportation and
distribution, are critical to move CBM from coal fields to local and more distant
end use markets."

Gas demand in India far exceeds supply and with the gap widening increasingly, there
is an urgent need for more supply. India has the sixth largest coal reserves in the
world and has massive quantities of CBM .The commercial prospects of CBM in India
are very high viable alternative to LPG, diesel, and petrol. Hence CBM is clearly
emerging as one of the viable and cleaner routes to energy security.

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.

The organization, headed by Mr. Y.K. Modi, is exploring & developing production
wells for Coal Bed Methane in Raniganj coalfields, West Bengal. GEECL has completed
23 vertical production wells. All the wells are drilled, logged, cased, cemented and
fractured. Apart from this 8 Core hole have drilled for desorption and other
studies. 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


Web Site = http://www.genesisbm.in

Contact Details = Megha Sabhlok, Genesis B-M
megha.sabhlok@bm.com
+ 91 9811710099