Great East Energy, Inc. has announced plans to increase its land holdings to up to 1,000 square miles. "In our first stage, we want to create the base for further rapid expansion," said GASE CEO Timur Khromaev in an interview with Stock Market Media Group. "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 1,000 square miles," he stated.
Great East Energy is currently working to further develop its estimated gross total reserves of 47 billion cubic feet (BCF) of natural gas in the GASE license area. GASE is publically traded in the U.S. and is a fully-reporting company with the SEC whose wholly-owned subsidiary controls two companies which have been producing gas since 2003, own two gas processing facilities, and over eight miles of gas pipelines to their customers.