Global Energy Ventures Extends Its LOI With CIMC Raffles

Global Energy Ventures Ltd (ASX: GEV), leader in developing global integrated marine compressed natural gas (CNG), projects has extended its Letter of Intent (LOI) with Yantai CIMC Raffles Offshore, Ltd ( CIMC Raffles) to build the CNG Optimum 200 ships.

Key Highlights:

· It is a six months extension to LOI to build the CNG Optimum 200MMscf ship;

· There is no change in the contract price range of USD 135-140 million per ship or delivery schedule of 30 months for the first ship.

At AEDT 01:13PM, the stock was trading at $0.140 per share, no change from its previous close.

· It is a six months extension to LOI to build the CNG Optimum 200MMscf ship;

· There is no change in the contract price range of USD 135-140 million per ship or delivery schedule of 30 months for the first ship.

At AEDT 01:13PM, the stock was trading at $0.140 per share, no change from its previous close.

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