Unconventional Gas Business

On 20 April 2011, Century Excel Energy Technology (Beijing) Company Limited (“Century Excel”), a 51% owned subsidiary of the Group, and Heilongjiang Coal Geology Bureau (“Heilongjiang CG Bureau”) entered into a memorandum whereby the parties agreed to establish an Unconventional Gas R&D Centre in Heilongjiang to establish a strategic co-operation relationship.

 

Major terms of the Memorandum:
  • Co-operate in provision of services in exploration and development of unconventional gas;
  • Heilongjiang CG Bureau provides geological data on coal fields and minerals with research staff ;
  • Century Excel provides advanced equipment and technology as well as research and development work by technical experts (advanced equipment to be imported including high pressure & high flow rate Nitrogen pumper, artificial lift system such as Jet-pump, etc.).