China United Coalbed Methane Corp and Gladstone Power
Energy Corporation USA Holdings signed a production sharing agreement for the
exploration of coalbed methane (CBM) in Huangshi, Hubei province.
The CBM deposits of the 304-sq km contracted block are estimated at five billion cubic meters,
with coal resources estimated at 220 million tons.
Under the 30-year contract Gladstone will assume all risks and expenses of CBM exploration during the
During the development period both companies will
invest and share in CBM production.