IN BRIEF (Page 14)

CBM project

Pacific Asia China Energy Inc (PACE) has announced it has reached an agreement with China United Coalbed Methane Company (CUCBM) to terminate the Huangshi CBM project located in Hubei province.

PACE will pay CUCBM $100,000 plus the outstanding accounts payable in return for waiving the remaining minimum exploration work commitment as specified by the terms of the Huangshi production sharing contract.