Deep Energy Resources Ltd arm selected as CBM developer for Jharia CBM Block-I

Deep Energy Resources Ltd has announced that the agreement signing ceremony of Coal India Limited's first commercial extraction of Coal Bed methane (CBM) project was concluded between our subsidiary i.e. Prabha Energy Private Limited (PEPL) and Bharat Coking Coal Limited (BCCL), a subsidiary of Coal India Limited at BCCL's HQ, Dhanbad on 20th September, 2021.

Prabha Energy Private Limited (PEPL), a subsidiary of Deep Energy Resources Limited, is selected as CBM Developer for "Jharia CBM Block-I (Jharia Coalfield, BCCL Leasehold Area)" through International Competitive bidding.

PEPL is focusing on CBM Exploration & Production business and is also having 25% participating interest alongwith Joint Operatorship in North Karanpura CBM block which is currently under advanced development phase. It has expertise in upstream, midstream and downstream activities relating to exploration and production of Coal Bed Methane.

Shares of DEEP ENERGY RESOURCES LIMITED was last trading in BSE at Rs. 40.65 as compared to the previous close of Rs. 42. The total number of shares traded during the day was 6199 in over 54 trades.

The stock hit an intraday high of Rs. 42 and intraday low of 40.35. The net turnover during the day was Rs. 255699.

Source : Equity Bulls

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