Great East Energy Investors Show Confidence With $1.49 Million at $1.00/Share
February 20 2014 - 8:30AM
Marketwired
Great East Energy Investors Show Confidence With $1.49 Million at
$1.00/Share
NEW YORK, NY--(Marketwired - Feb 20, 2014) - Great East Energy,
Inc. (OTCQB: GASE) is currently priced at about $0.65/share which
is $0.35/share lower than where a group of private equity
shareholders with deep pockets put their money. Great East
Energy received $1,490,000 in private financing from a group of
confident investors who clearly see the company's acquisition of
162 square miles of producing clean energy assets in Ukraine
leading to a very bright future.
This confident investment was likely made easier when Great East
Energy received a second professional report confirming that there
are gross total reserves of 47 billion cubic feet of natural gas in
the company's licensed area. The good news for all investors
in the company is that Great East Energy stated this investment
will be used to further develop its estimated gross total reserves
of almost 50 billion cubic feet of natural gas.
In Europe, natural gas prices are three times higher than prices
here in the U.S., so the fact that these investors put up
$1,490,000 in return for restricted common shares that won't be
unrestricted for a year, speaks volumes for the amount of revenues
and profits they feel Great East Energy can develop from those
reserves.
In addition to the advantageous prices in Europe leading to a
windfall of cash for those companies who can produce and sell gas,
other key factors contributing to this bold investment are the fact
that Great East Energy acquired property that has been producing
gas since 2003, owns two gas processing facilities, and has over
eight miles of gas pipelines to their customers.
There is no intent to settle on the 162 square miles of assets
the company currently owns in Ukraine either. Stock Market
Media Group, a full service research and content development
investor relations firm, asked the company's CEO Timur Khromaev if
there are any expectations to continue to grow expand the footprint
in Ukraine and he said, "Sure! In our first stage, we want to
create the base for further rapid expansion. Then, we plan to
obtain Greenfield licenses and acquire underperforming, existing
operators that have room to grow aiming at expansion of Great East
Energy's area from 162 square miles to 1000 square miles."
This $1,490,000 financing will now allow Great East Energy to
implement North American capital, industry knowledge, and
technology to produce and sell even more natural gas to
customers. And, if these investors feel Great East Energy is
worth, at minimum, $1.00 per share now, retail investors should
feel confident that the company's share price will be exponentially
higher as the company grows.
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