GROUP ENTITIES – POSITRON GAS LIMITED

POSITRON GAS LIMITED

Positron Gas Limited (PGL) was incorporated in 2015 for developing the business of Coal Bed Methane Gas in India. PGL is an associate company of Positron Energy Private Limited (PEPL) a leading Energy Sector Consulting company. PEPLentered into gas offtake arrangement with ONGCL to process CBM gas from ONGC’s Parbatpur block. PEPLhas been into the business of distributing Natural Gas in form of Coal Bed Methane (“CBM”) Gas in Compressed to the industries in Jharkhand since 2009.PEPL has acquired 0.5 acre land in Parbatpur adjacent to the ONGC gas exploration area for offtake & compression of the gas with Gas Compressors. Compressed Natural Gas (CNG) stored at 250 bar in High pressure cylinders and mounted on trucks shall be transported from CNG mother Station, Parbatpur to demand centres and shall come back for refilling to the same mother station after decanting.

PGL entered into a gas supply agreement with PEPL after being granted a provisional NOC by Petroleum & Natural Gas Regulatory Board (PNGRB) for supply of Natural Gas (CBM) to the industrial consumers in Jharkhand and has been successfully operating in the region since last few years. PGL supplies compressed CBM gas through cascades further to be supplied to CGD companies for their CNG stations and directly as fuel to Industries in and around Bokaro. This helps in reducing the carbon footprint in the various cities of Jharkhand. PGL contributes to create a clean environment for our future generation by placing the CBM gas from local Jharia blocks to cater to the ever-increasing energy demand of this region as a cleaner and economic fuel option for the energy requirement in and around Bokaro, Jamshedpur and other areas.Presently the gas demand for CNG for vehicles & Industries of Jamshedpur & Bokaro is being carried out as per need to ensure and make India Atmanirbhar. The CBM gas is replacing costly imported fuels. Methane in CBM is one of the cleanest fuels on earth and hence its usage should be encouraged and promoted. Our country being an energy deficit country with more than 85% of its Oil and Gas being imported , replacing them with CBM available in Coal seams of Jharkhand makes it a sensible thing to do in being Atmanirbhar ( Self sufficient) in in our energy needs.

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Downstream Operations Summary

Everest Kanto Cylinders Ltd (“EKCL”) and Positron Energy Private Limited (“PEPL”) have an equity stake of 72.65 % & 27.35% respectively in Calcutta Compressions & Liquefaction Engineering Limited ((“CC&L”).

CC&L has an existing gas purchase agreement with ONGC for supply of 50,000 scmd of CBM gas from ONGC’s Jharia fields at Parbatpur, Bokaro in Jharkhand. Jharia fields are supposed to have largest reserves of CBM gas in Asia and are expected to produce around 400,000 scmd.

CC&L is supplying CBM Gas to Industries in Bokaro and Dhanbad for supply of 50,000 scmd of Coal Bed Methane (“CBM”) gas. CC&L is supplying CBM gas to industries in and around Bokaro. CC&L has obtained all necessary Licenses, approvals, NOC’s from various Sate and Central Government agencies. Key approvals are NOC from Petroleum and Natural Gas Regulatory Board (PNGRB), NOC from State Pollution Control Board, NOCs from civil administration esp. Dy. Commissioner, Superintendent of Police, License from Chief Factories Inspector & Petroleum Explosive Safety Organization (PESO) & necessary registrations with Sales Tax authorities have also been completed.