is the current turf no good ?

I was interested in red's comment "looking for gas acquisitions in China is another way of saying the current turf is no good."

The restructuring certainly at this stage leaves a lot of questions unanswered but if the above was true and having already reached TD on ZJS7, would the following have been published in the Company announcement:

"Leyshon Energy will be focussed on the exploration and commercialisation of the Zijinshan project and has appointed a Board of Directors with an enviable track record in acquisition growth looking to exploit opportunities in the oil and gas sector."


"Benefits of Energy Separation to Leyshon Resources' Shareholders

The Directors believe that the principal advantages to shareholders of the proposed Energy Separation are as follows:
· Shareholders will continue to retain their current indirect interest in the Zijinshan Gas Project through their pro rata shareholding in Leyshon Energy."


"It will allow the Company to focus on the Mt Leyshon Gold Project, and other mineral investment opportunities whilst enabling Leyshon Energy to focus on the Zijinshan Gas Project as well as actively seeking other investment and acquisition opportunities in the oil and gas sector in China and elsewhere.
· It provides a strategic opportunity to develop Leyshon Energy as a stand-alone company which can continue to explore and commercialise the Zijinshan Gas Project and should enable a more transparent market value to be placed on the Zijinshan Gas Project."

To my mind to place that much emphasis on Zijinshan as part of the seperation makes it highly unlikely that they are upping sticks.
And if they do it would certainly tarnish their credibility in my eyes.

ps Perhaps this was the most salient statement above:

"Shareholders will continue to retain their current indirect interest in the Zijinshan Gas Project through their pro rata shareholding in Leyshon Energy."

We are talking about a future event here, with even the date of the EAGM still to be decided.