> CNPC (Hong Kong) Limited (SEHK: 0135), a listed oil and gas
> development company 56.66% owned by PetroChina Co., agreed to spend
> CNY 435,154,500 acquiring 177 million shares of China Natural Gas Co.,
> an urban piped gas distributor and supplier in China Mainland.

> The buyer has inked equity investment agreement with the existing
> shareholder of China Natural Gas, including China Huayou Group
> Corporation and the other four investors, on February 16, 2009

> CNPC (HK) will pay no less than 30% of the total consideration for the
> shares within ten working days after the target company is licensed by
> the Chinese government to accept foreign investment and own
> independent foreign currency accounts. The rest will be paid off in
> six months since China Natural Gas gets new business license.

> After the deal, CNPC (HK) will get a 51.01% stake in China Natural
> Gas, which is operating near 60 compacted natural gas stations in
> Sichuan and Shandong Provinces now.

> ****What is this going to do to the share price? CHNG today is cheaper
> than cheap for such a high revenue company. Can anyone give me some
> advice on this? It would be much appreciated!

> The "China Natural Gas Co." referred to in this news item is *not*
> CHNG.OB.  Not sure how the mix-up occurred or what company the news
> refers to, but CHNG.OB does not have 60 CNG stations in Sichuan and
> Shandong Provinces.  CHNG.OB operates Xi'an which is in the Shaanxi
> Province.  I believe they only have 30 CNG stations operating
> currently.

> On Feb 23, 10:33 am, kolllar...@hotmail.com wrote:

> > CNPC (Hong Kong) Limited (SEHK: 0135), a listed oil and gas
> > development company 56.66% owned by PetroChina Co., agreed to spend
> > CNY 435,154,500 acquiring 177 million shares of China Natural Gas Co.,
> > an urban piped gas distributor and supplier in China Mainland.

> > The buyer has inked equity investment agreement with the existing
> > shareholder of China Natural Gas, including China Huayou Group
> > Corporation and the other four investors, on February 16, 2009

> > CNPC (HK) will pay no less than 30% of the total consideration for the
> > shares within ten working days after the target company is licensed by
> > the Chinese government to accept foreign investment and own
> > independent foreign currency accounts. The rest will be paid off in
> > six months since China Natural Gas gets new business license.

> > After the deal, CNPC (HK) will get a 51.01% stake in China Natural
> > Gas, which is operating near 60 compacted natural gas stations in
> > Sichuan and Shandong Provinces now.

> > ****What is this going to do to the share price? CHNG today is cheaper
> > than cheap for such a high revenue company. Can anyone give me some
> > advice on this? It would be much appreciated!- Hide quoted text -

> - Show quoted text -