SOURCE: Great East Energy, Inc.

Great East Energy, Inc.

June 13, 2014 08:15 ET

Great East Energy Inc. Changes Name to GASE Energy, Inc.

NEW YORK, NY and KIEV, UKRAINE--(Marketwired - Jun 13, 2014) - GASE Energy, Inc. (OTCQB: GASE) (the "Company" or "GASE") which controls over 160 square miles of producing, clean energy, natural gas holdings through two local operating companies, today announced FINRA'a approval of the Company's name change to GASE Energy, Inc. The name change will be effective as of today, June 13, 2014. GASE Energy's OTCQB ticker will remain "GASE."

"As we look to expand our business operations into retail CNG in the fourth quarter of this year, our management, sales, and marketing teams agree that 'GASE Energy' will better reflect our diversified operations and future position in the Ukrainian market," stated Timur Khromaev, CEO of GASE. "We are poised to launch our Company's new brand and all associated marketing materials in the third quarter. We believe our approach to the retail market and eventual sales of our compressed natural gas at retail CNG stations requires a fresh brand for consumer recognition, in addition to the value it fosters with new commercial customers are targeting. We will also re-launch our Website which we will announce to the market and our shareholders once it goes live."

About GASE:
GASE Energy, Inc. is a producing, development stage company targeting the growing independent natural gas production industry of Ukraine, as Europe's second-largest country by land mass makes energy self-sufficiency from Russia a priority. With Ukraine natural gas priced over three times U.S. levels, the energy industry holds compelling economics as well. Through its local operating subsidiaries NPK-KONTAKT and LISPROMGAZ, the completion of GASE's well development activities are planned to result in a multi-million dollar inward investment into Ukraine.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
This press release contains forward-looking statements made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward looking statements are based upon the current plans, estimates and projections of the Company's management and are subject to risks and uncertainties, which could cause actual results to differ from the forward looking statements. Such statements include, among others, those concerning market and industry segment growth and demand and acceptance of new and existing resources; any projections of sales, earnings, revenue, margins or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements regarding future economic conditions or performance; uncertainties related to conducting business in Ukraine, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. Therefore, you should not place undue reliance on these forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: business conditions in Ukraine, general economic conditions; geopolitical events and regulatory changes, availability of capital, the Company's ability to maintain its competitive position and dependence on key management. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

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