Development of coal seam methane with the intervention of quasi-oil shares

A lone dong to abstain from voting on the oil shares (002207) announcement, the company intends to invest in the establishment of Xinjiang Oil Energy Development Co., Ltd., registered capital of 100 million yuan, operating coal, coalbed methane and other mineral resources exploration and development, operating sales.　　The motion was abstained by an independent director, Mr. Li Mingzhong, who agreed with the development and investment direction of the company, but considered that the company had insufficient human, financial and technical reserves and an excessive investment risk for the current investment project, and therefore abstained in the vote. The company also intends to 35 million yuan affiliated company Xinjiang Chong Yue Investment Co., Ltd., a wholly-owned subsidiary of Xinjiang Novo Bo Energy Investment Limited liability company 100% of the equity.　　The company owns the prospecting right of coal mine in Baicheng, Xinjiang, and the prospecting right of coal mine in Baicheng County, Xinjiang, the former is valued at 45.6103 million yuan and the value-added rate is as high as 1214%. After detailed investigation, the coal mine of Xinjiang Baicheng the total amount of 22.42 million tons of resources at all levels, the control of the intrinsic economic resources of 5.09 million tons, inferred the intrinsic economic resources of 17.33 million tons. (Nan)