Henan CBM Development and Utilization Co., Ltd
Agre词汇量nd
Dart Energy PTE LTD
And
Hong Kong Prosperous Clean Energy Company Ltd
Letter of Intent on Cooperative Development of Unconventional Gas
Dated: May 20, 2013
Cooperating Parties:
Party A: Henan CBM Development and Utilization Co., Ltd
Party B: Dart Energy PTE LTD
Party C: Hong Kong Prosperous Clean Energy Company Ltd
A.Precondition to the Cooperation
B.
1.Party A is a business entity incorporated under the approval of Henan Provincial Government. It is responsible exclusively for coal bed methane (CBM) exploration, extraction and production, development and utilization in Henan Province and is the first provincial CBM development and utilization company in China. Party A has obtained the qualification to exclusively cooperate with foreign enterpris.
2.
3.Party B is a company incorporated and operating under the laws of Singapore. The company has the technical and capital capabilities of t asssing CBM resources, designing appraisal and pilot drilling programs and subject to technical success of tho programs, moving to developing and producing commercially viable CBM. It has developed innovative, low cost horizontal and vertical drilling technology that is instrumen
tal in establishing the sustainable growth of commercial CBM production and pre-drainage of veral coal mining areas.
4.
5.生活大爆炸第二季高清下载Party C focus on clean energy and is engaged in development and utilization of automotive new energy, including LPG, CNG and CBM. Now the company has eight CNG gas stations, two LPG gas stations and one L-CNG gas station in operation.
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7.It is the intention of the parties that Party A and Party B will cooperate and carry out exploration work in the 6 CBM blocks under the principle of “easier block/cherry-pick development first” subject to the condition that the choice is beneficial to all parties.
8.
9.As part of the process of entering into the PSCs, the parties wish to commence a techni
阿房宫赋知识点cal evaluation with a view to determining the feasibility and scale of CBM exploration and development within the corresponding areas. To this end, all parties agree to include a confidentiality clau in this LOI with the aim of facilitating the providing and sharing of appropriate data.
10.
11.accurateParty B and Party C agree to cover the costs to carry out the technical due diligence and evaluation, and the parties agree to formulate the indicative timetable for the negotiation of the PSC in details after the completion details after the completion of the technical due diligence and evaluation.formulaic
12.
C.Cooperation Intention
D.
1.Evaluation. The parties propo to carry out a technical commercial & legal evaluation of the feasible area lected by Party A to determine the potential for CBM resources. The evaluation shall also identify a preliminary view of the most promising areas for initial exploration activities, follow-up appraisal and potential development of a full-scale CBM project in the corresponding area.
2.
3.Technical data. Party A will u its best endeavors to coordinate the collection of technical data for the cooperated areas, as may be necessary to conduct the technical, commercial and legal evaluation. At the same time, Party A will also arrange for Party B and Party C to carry out site and underground mine visit(s) of the corresponding areas as appropriate and, if possible, carry out analysis of physical coal samples and available drill cores available from previous drill core programs undertaken in respect of the corresponding areas.
4.
数不胜数
Party A shall endeavor to arrange appropriate staff and party B and Party C’fire flys technical personnel to work together, in order to complete all the technical, commercial and legal evaluation, and efficiently handle the mutual interference issues that may be occur in the evaluation and mining guardrailwork.
5.The parties shall u their best endeavors to work co-operatively at all times within the scope of the content of the cooperation and shall, where possible, openly share information between them that will assist in accomplishing the objective and purpos of this LOI.
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7.Production Sharing Contract. All parties shall u their best endeavors to conclude and sign the PSCs. The rights and obligations of each party will be defined in PSCs. The PSCs shall be reported to the various competent government authorities after being signed, and shall subject to the approval of the relevant regulatory authorities and the Ministry of commerce of the People’s Republic of China and other government authorities.slept
