Foreign investment review board. The agreement has to be passed by the Goverment for the deal to proceed.When this happens it clears the way for the 50 million in drilling expenditure and then a Chinese equivalent this is a state run company so it seems like a formality.Cnooc are talking about a 20 billion lng plant if the can prove up the resource.There are gas companies all around this area which have proven resources.Exe are talking about 120 tcf of gas now this is huge .Shale coals are what has resurrected the American oil and gas industry it is big time with the new technology in use at the moment.In one of the Anns a small mention was made of the possibility of oil also.Talking with EXE they said that we have a tendency to understate what is the possibility in their tenements.Very good company and a huge JV what more could you ask for.
Good luck.
EXE Price at posting:
24.0¢ Sentiment: LT Buy Disclosure: Held
