4.5 per shares, page-25

Of course this is not a done deal, either side can back out or attempt to change the deal. IMO GCL will want the deal to go through.

At 66% of the action inside China which GCL is involved in is quite considerable when one considers that China has one of the largest shale gas reserves in the world. This recently received a lot of publicity. What was not mooted a lot was the geological position of much of these reserves. Quite a bit of it is supposedly in geographically challenging locations.

It is not wise to underestimate the advantages of what amounts to a Chinese conglomerate being the major owner operator of a enterprise within China. They also consider the long term in far better detail than most western businesses.

If this venture proves viable, operationally cheaper and more easily implaced as touted than other new methods emerging, then that 33% could translate into a very considerable amount a number of years down the track.

As I said, strategically this seems like quite a cornerstone deal.