Dart Signs News CBM, Shale Gas Deals in China

Dart Energy has entered into agreements to establish four coal seam gas and one shale gas production sharing contracts in China. The letter of intent has been signed with Henan CBM (HCBM) and Hong Kong Prosperous Clean Energy Company (HPEC).

The four CBM blocks are located in Henan Province while the shale gas block is in Sichuan Province.

Under the terms of the deal, Dart, HCBM and HPEC will negotiate exclusively, and seek relevant Government approvals for, foreign cooperation PSCs in relation to some unconventional gas assets currently held by HCBM.

Dart will immediately commence a technical evaluation of the various areas, and associated due diligence.