Acquire arrow company to complete delivery

China Petroleum (601857) August 23 announced that the subsidiary of PetroChina International Investment Co., Ltd. and the Australian Shell Energy Holdings Limited in a 50:50-percent consortium on March 19, 2010 with the Australian coal-bed gas company Arrow Power signed an equity acquisition agreement, The company buys all of Arrow's shares at a price of $4.7 per share and buys about $3.5 billion.　　Lasted 5 months, the current transaction has successfully passed Arrow Company shareholders meeting, the Chinese and Australian government departments of the approval process, August 23 completed delivery. According to the acquisition agreement between PetroChina and Shell with Arrow, the joint venture will hold Arrow Company's CBM assets in Queensland, Australia, and the domestic power business, Shell's CBM assets in Queensland, State Of, and Shell's Curtis Island (Curtis) in Gladstone City (Gladstone)　　Proposed liquefied natural gas production project. The deal is one of the most important acquisitions of PetroChina in overseas markets and the first time PetroChina has invested in coal-bed gas in Australia. PetroChina said Australia is rich in resources and that the company will continue to focus on opportunities for investment cooperation in Australia in the future.