On September 10, 2012, the Ministry of Land and Resources of the
People's Republic of China (the "MLR") announced the
commencement of China's second round of shale gas bidding (the
"Bidding"). Bidders are invited to bid for 20 blocks
located in eight provinces, with a total area of 20,002.16 square
kilometers. Both the largest and smallest tracts are located in
Hubei province, with the Hubei Hefeng block covering an area of
2,306.71 square kilometers and the Hubei Laifeng Xianfeng block
covering an area of 369.23 square kilometers.
Bids are due and scheduled to be opened on October 25, 2012.
Prospective bidders may obtain the bidding package on or before
September 14, 2012, by presenting their business license, documents
evidencing the satisfaction of the Exploration Qualification
requirement (as further described below), and other required
documents. We anticipate that the bidding package will be only in
Chinese.
