Leyshon Energy Seeks to Exploit Opportunities in China

John Manzoni, chairman of Leyshon Energy, told shareholders at its AGM of the opportunities for the company in Cnina.

He said: "China is short of energy. It is increasingly dependent on imports for both gas and oil and is under intense environmental pressure to reduce its reliance on coal."

"I am pleased to say that we have positioned ourselves on the front line of these reforms and have already been offered opportunities to work with the major state owned energy Companies CNOOC, Sinopec and of course we already have a close co-operation with CNPC on our Zijinshan gas project in the Ordos Basin.

"These reforms are now being implemented at an increasing pace and we are witnessing rising gas prices, additional financial incentives to invest in unconventional gas and more clarity in the underlying regulatory framework. All of which are encouraging for future investment in the sector."

Mr Manzoni confirmed that Leyshon is actively looking for acquisition opportunities in China to grow the company and have received very strong indications of financial support should it find the right opportunity.

(iii.co.uk  Edited by Topco)