This is an extract from the official communication of MIE to the HK Stock Exchange, regarding the Purchase Price of Sino Gas,China natural gas environment."
"The Consideration was determined on normal commercial terms after arm’s length
negotiations between the Company and the Purchaser with reference to a number of factors,
including but not limited to the 2P Reserves stated in the independent technical reserve
reports for both Linxing PSC and Sanjiaobei PSC as at 31 December 2015, the latest
production/flow rate, gas sales volume, gas price, existing infrastructure, financial
information of the Target Company and the strategic value of the assets under the macro
This clearly stated that the buyer, as logical, had a full access to all the technical data of Sino Gas.
The DD regarding the operations has already been done, what is under completion it's only the Accounting DD.
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This is an extract from the official communication of MIE to the...
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