The Annual Shale Gas Technology & Equipment Event
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Fortune Oil Plc (FTO.L: News ) confirmed that it has purchased, on behalf of its Joint Venture with LIU Minghui, 33.91 million additional shares in China Gas Holdings Ltd or CGH, taking the overall Joint Venture holding in CGH to 385.03 million shares, representing 8.78% of CGH's issued share capital.
Fortune Oil noted that these shares have been acquired pursuant to the obligations under the Joint Venture agreement, as part of the Company's original contribution to the joint venture of HK$700 million.
Unconventional natural gas has become a global hotspot. It is changing the pattern of the world energy. Shale gas will become one of the three energy resources in the next 20 years. Read More >
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