Great Eastern Energy - Report on Payments to Government

Great Eastern Energy

02/09/2020 07:00

RNS Number : 7269X

Great Eastern Energy Corp Ltd

02 September 2020

 

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement

 

02 September 2020

 

Great Eastern Energy Corporation Limited

("Great Eastern" or "the Company")

 

Report on Payments to Government

 

As required to be disclosed under the Disclosure and Transparency Rules of the UK Financial Conduct Authority, the Company has made the following payments to the Government of India and the West Bengal State Government for the financial year ended March 31, 2020:

 

1.   Income Tax - US$ 982,718

 

2.   Royalty - US$ 2,202,868

 

3.   Production Level Payment - US$ 550,717

 

The payments were made in Indian Rupees and converted into US$ based on the average foreign exchange rate for the said year.

 

For further information please contact:
Great Eastern Energy Corporation Limited
www.geecl.com
Yogendra Kr. Modi
Executive Chairman
+44 (0) 20 3470 0470
Prashant Modi
Managing Director & CEO
Jonathan Keeling
VP - Investor Relations
+44 (0) 7717 559 522
SP Angel Corporate Finance LLP
+44 (0) 20 3470 0470
Rob Rees
Richard Hail
Caroline Rowe


 

About the Company

 

A fully integrated gas production, development and exploration Company in India. Gas is being produced from the Raniganj (South) block in West Bengal, which covers 210 sq. km with 9.25 TCF of Original Gas-in-Place. The Company's second license is the Mannargudi block in Tamil Nadu, which covers 667 sq. km with 0.98 TCF of Original Gas-in-Place.

 

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