Ann: Sino Gas - Funding for PSC Projects Imminent, page-2

re: Ann: Sino Gas - Funding for PSC Projects ... Can another fellow share-holder more business-minded than myself explain why selling 51% of a company is a smart move? My understanding of this announcement is that some 'soon to be named' entity (if the letter of intent is actually followed through) will be the new majority shareholder, and will have the further option to buy-out remaining shares at their whim? This could be a good thing or a bad thing depending on the price of any potential future take-over? Does this also mean a change of the board given that a majority shareholder has the right to have board representation, and are other shareholders happy to pass the future direction of the company (for better or worse) over to a new unknown party. Should the letter of intent be followed through, I presume this type of event would require shareholder approval? Or does it? Thank for any insight!