Ann: Sino Gas - Funding for PSC Projects Imminent, page-6

re: Ann: Sino Gas - Funding for PSC Projects ... hi again rifici

as usual you seem to have a thorough grip on the total picture and explained the set up very clearly.

i have lost just about all my credibility here but on the other hand the seh board have gained significant credibility.

some details - what we dont know is at what point does the unknown party gains 51% of sge - is it immediately or is it on a progresive percentage basis proportional to the percentage of the ammount put in. ??

the make up of the sge board seems to be unknown except that gavin harper was on that board in 2010. it would be interesting to know who the other personell of that board are??

and why was the sge set up in the first place - was it to enable seh the freedom to make such agreements without the humbug of seh shareholder approval??

whether answers to the above make any difference i dont know. my first guess is that there is nothing sinister in any of this at all and there is a fair degree of commonallity of personell between the two boards

further, this is still only a non-obligatory letter of intent not an offer, and many details have to be sorted, so there is still away to go before it is a sewn up deal - particularly in these uncertain times

GK