Overview

Fully Integrated Coal Bed Methane (“CBM”) Producer

Pioneer of CBM in India

 First company to commercially produce CBM natural gas in

India (first CBM contract signed 2001)
 Listed on the London Stock Exchange since 2005 (LSE: GEEC)
 Raniganj (South) Block (100% interest), located in the heart of
West Bengal’s growing industrial belt
 Mannargudi Block (100% interest), located in Tamil Nadu

Uniquely positioned in a large gas market with fully integrated

operations

 Large certified reserves & resource base (595 Bcf 3P + 704 Bcf
3C + 1,689 Bcf 3U)
 Strong regional gas demand, growing production and cash flow
 Fully integrated and self-sufficient CBM operations, with self-
owned rigs, midstream facilities, and downstream infrastructure

www.geecl.com
2
Highlights

Strong Financial
World Class Position
Production
Reserves
(H1 FY 2019)

• H1 FY 2019 Production • OGIP increased to 9.25 • Revenue: $ 20.71m

18.27mmscfd Tcf (2005: 1.39 Tcf)
• EBITDA: $ 12.69m
• CBM recovery factor
increased to 60% from
55%, in the low estimate

www.geecl.com
3
Unique and Compelling Value Proposition

 Proven Track record as operator

First company to commercially produce CBM natural gas in India

 Delivered strong operational performance

World class efficiencies achieved

 Free market gas price

 Increased gas production every year

 Strict adherence and commitment to international QHSE standards

Accredited with ISO:9001, OHSAS:18001, and ISO:14001

 Committed to well being of the society

Ongoing Corporate Social Responsibility program

www.geecl.com
4
Environmental Stewardship Strategy In Development Of CBM
Maintaining International Quality, Health, Safety, & Environment Standards

 First CBM company in India to be accredited with ISO:9001, OHSAS:18001, and

ISO:14001

 Deviated drilling to maximize productivity and drainage capability while at the same
time reducing the footprint

 Use of self contained, extremely mobile rig to have a compact pad site with less
environmental disturbance

 Use of advance techniques in Well Bore integrity

 Strategic planning for pipeline connections to reduce gas flaring

www.geecl.com
5
A Responsible Partner To Our Local Communities
Improving The Well-Being Where We Operate

www.geecl.com
6
Board of Directors
Yogendra Kr Modi | Founder & Executive Chairman
 Founder of the Company and associated with it since its incorporation in 1992
 Has conceived, implemented and operated several large projects across several industries over five decades
 Was a member of the Dean’s Council at the John F. Kennedy School of Government, Harvard University
 Held senior roles (incl. president) of various national and international bodies (FICCI, ICC India, etc.)

Prashant Modi | Managing Director and CEO

 Associated with the Company since 1996 and is responsible for the day-to-day operations
 Holds executive roles of various national and international bodies (including president of ICC, India)
 Prior to joining the Company, also worked with ANZ Bank, London and Qualcomm Inc, USA
 Bachelor of Science in Business Administration from Boston University and taken several executive courses at Harvard Business School

Gurvirendra Singh Talwar (Rana Talwar) | Non-executive Independent Director

 Founder, Chairman and Managing Partner of Sabre Capital, a private equity and investment company focused on financial services
 Previously Chairman of Centurion Bank of Punjab and Director of Fortis Group (Belgium, Netherlands), Schlumberger Ltd. and Pearson plc.
 Before that he was associated with Standard Chartered PLC as Group Chief Executive and worked with Citigroup in various senior roles
 Holds a Bachelor of Arts (Hons.) degree in Economics from St. Stephen's College, University of Delhi

S. Sundareshan | Non-executive Independent Director

 Joined the Indian Administrative Services in 1976 and held many senior positions in the Government of India
 Served as Secretary in the Ministry of Petroleum and Natural Gas, and the Ministry of Heavy Industries and Public Enterprises
 Was a board member of ONGC, GAIL India Ltd., Indian Oil Corporation Ltd., and was the Chairman of Petronet LNG Ltd.
 Masters degree in arts from Mumbai University and MBA from University of Leeds, United Kingdom

Sushil Kumar Roongta | Non-executive Independent Director

 Bachelor degree in Engineering from Birla Institute of Technology & Science, Pilani
 Post Graduate Diploma in Business Management - International Trade from the Indian Institute of Foreign Trade, New Delhi
 Was the Executive Chairman of Steel Authority of India Ltd. and Talwandi Sabo Power Ltd. (Vedanta Ltd. group companies)

www.geecl.com
7
Our Assets

Raniganj (South) Block

• Licence area 210 km2

• 9.25 Tcf OGIP
• 595 Bcf 3P Gross Reserves
• Situated in West Bengal’s industrial belt
• Under Commercial Production
• Gas Gathering capacity 31.95 MMscfd
• CNG supply agreement with Indian Oil and
Bharat Petroleum

Mannargudi Block

• Licence area 667 km2

• 0.98 Tcf Gas in Place as per DGH
• Existing Pipeline Infrastructure
• Currently under Arbitration

www.geecl.com
8
Raniganj (South) Block Overview
High Quality Producing Asset

Location / Area Raniganj coalfield, West Bengal / 210 km2 Location Map
Operator 100% working interest

OGIP 9.25 Tcf

3P Reserves 595 Bcf

3C Reserves 704 Bcf

3U Resource 1,689 Bcf

Type of Coal High Volatile Bituminous

Number of Coal Seams 20 prospective / 10 correlatable

Coal Seam Depth 150-1,150m

Cumulative Thickness 10-70m

Gas Production (MMSCFD)

High-quality producing asset located in proximity to gas

demand centres with established infrastructure
 Spread over 210 km2 in the southwestern part of the
prolific Raniganj coalfield, about 200 km from Kolkata, and
adjacent to the Burnpur-Asansol industrial belt
 Coal seams are fairly continuous, well-matured, less
structurally disturbed and have adequate permeability
 Faulted seams, resulting in an increase in fluid flow in the
natural fracture system, which have an important bearing
in CBM productivity
 Consistently increasing production and sales with a well
established distribution network and customer base

www.geecl.com
9
Reserves Development
Raniganj (South) Block

Original Gas-In-Place (Tcf) Reserves (Bcf)

Nov 2009 Sep 2011 May 2012 Feb 2013
10.00
9.25 3000 Dec 2013 Nov 2014 Apr 2016 Jul 2017
9.00 594.7
8.00 2500
7.00 594.7
510.8
6.00 2000
5.00 517.2
543.4
2.62 1500 336.0
4.00 442.7
2.35 2.40 2.44 2.62 2.62 354.2
3.00 2.00 2.00 1000 289.6
1.92 259.1
2.00 1.39 77.9 186.7 276.8
500 53.6 139.3 258.1
1.00 7.32 124.0
47.5 90.12 187.73
0.00 0 27.82 45.63
17.0
Sep Jun Nov Sep May Feb Dec Nov ` Apr Jul Nov 1P 2P 3P
2005 2007 2009 2011 2012 2013 2013 2014 2016 2017 2018

Contingent Resources (Bcf)

Nov 2009 Sep 2011 May 2012 Feb 2013

Exhibited strong reserves development, significantly de- 3500 Dec 2013 Nov 2014 Apr 2016 Jul 2017
risking the field over time 704.4
3000
 9.25 Tcf OGIP – up from 1.39 Tcf in 2005 701.4
2500 600.3
 1P and 2P CAGR of over 45% (between 2009-17)
2000 419.8
 Increased CBM recovery estimates - from 30% to 60% in 590.8
424.1
the low case 1500
397.1
274.3 372.3
 3P reserves as well as contingent resources to migrate to 1000 375.7 257.3 298.9
169.9
1P as more wells are drilled in those areas 91.6
178.6
295.1
500 132.5
76.4 131.7
52.6 0
51.3 0
0 0
1C 2C 3C

www.geecl.com Source: Advance Resources International, Inc. (ARI)

10
Resources Update Shale Prospective Resources (Bcf)
Raniganj (South) Block

Original Gas-In-Place (Tcf) Shale Prospective Resource (Bcf)

1800.00

SHALE CBM Total

Classification Category Resources Resources Resources
(Tcf) (Tcf) (Tcf)

1200.00

Low
1.40 4.02
Estimate Contingent Resources (Bcf)
1689.30

600.00
Best
Original-Gas- 3.51 6.13
In-Place Estimate 2.62
883.00

347.20
High
6.63 9.25
Estimate 0.00
1U 2U 3U

www.geecl.com Source: Advance Resources International, Inc. (ARI)

11
Significant Reserves
Raniganj (South) Block

Total Future Net Revenues

Gross Recoverable ($ Million)
Classification Resource Type Category Gas
(Bcf) Discounted at 10%
Undiscounted
per annum

1P 336.00 $2,037.00 $675.50

Reserves* CBM 2P 510.80 $3,073.00 $965.90

3P 594.70 $3,535.10 $1,076.70

1C 397.10 $2,463.90 $253.20

Contingent
CBM 2C 600.30 $3,786.80 $385.20
Resources*

3C 704.40 $4,464.40 $448.70

1U 347.20 $1,250.10 $764.00

Prospective
SHALE 2U 883.00 $3,118.50 $1730.90
Resources**

3U 1,689.30 $5,775.50 $2,782.90

* As of July 31, 2017

** As of November 7, 2018

www.geecl.com Source: Advance Resources International, Inc. (ARI) 12

Directional / Deviated Drilling

Directional / deviated wells to increase drainage

 Intersecting multiple seams with each well

 Greater “in-coal” exposure than vertical wells

Multiple wells from the same geographic location

 Self contained, mobile rig, and a compact pad site

 Inter-location movement reduced resulting in
faster completion and lower costs; rig equipment
up / down in a few hours, not days
 Shared internal pipeline infrastructure and other
on-site facilities; otherwise required for each well
separately

Longer and more stable production profile than

conventional gas wells

 Long ramp-up period followed by gradual decline

 Estimated well life of 25-30 years

www.geecl.com
13
CBM Well vs Conventional Gas Well
Conventional Gas

Gas
Daily Production

Water

Time
CBM Production

Gas
Daily Production

Water

Dewatering Stable production Decline

Time
www.geecl.com
14
Gas Sales And Downstream Overview
Supplying a Growing Industrial Region

Durgapur

www.geecl.com
15
Gas Market
Gas market expected to remain strong

 LNG imports were the highest ever in the FY 2018

 From April – October 2018, India imported 21.39 MT (77 MMSCMD or 2.72 BCFD) of
LNG which was 13% higher than in the corresponding period last year

Liquid Fuel Price ($/MMBTU)

30 27.96
25.23 25.85
23.98 25.58
23.60 24.72
25 23.06
22.29

20 17.16 18.73
15.53 17.43 16.93 17.36 16.57
14.61 14.94
15

10

0
Mar Apr May Jun Jul Aug Sep Oct Nov
FO Commercial LPG

www.geecl.com
16
CNG Sales
A Portion Of Our Gas Is Sold As CNG For Vehicles

 Savings of ~ 55% by using CNG vis-à-vis using Petrol

www.geecl.com
17
Summary and Outlook

 Continue to increase production further

 Initial exploration for Shale Gas

 144 further wells planned to be drilled on the Raniganj (South) Block

 New gas pipeline of GAIL (India) Limited providing connectivity to Kolkata expected
to be in place by early 2020

 Under the Open Acreage Licensing Policy (OALP) the company will look for
opportunities in new areas

 Strong Indian economic outlook

www.geecl.com
18