The four blocks spread across 378km2 area in the Ordos Basin of Shaanxi Province.
Under the terms of the agreement, Triple Energy will acquire 75% operating stake in the WangFeng Block, which has four drilled wells, out of which two are under test production.
Located 50km from Wang Feng Hancheng City in Northeast Shaanxi Province, the WangFeng block has 95km2 of coal mining lease area.
The company will also acquire 75% stake in the Tongchuan block, which has eight CBM wells drilled, of which seven are undergoing production test.
Located in Tongchuan City town Qu Yao, the block covers an area of about 103km2 with four coal mines.
A field development plan is being carried out which would involve another six horizontal wells.
The field is expected to produce gas over a 10 year period which will be used as feedstock for a mini-power-generation station.
Power generated from the facility will be supplied to the nearby electrical grid.
The coal seams are mapped by 36 coal borehole wells and seismic data.
The assets considered for acquisition also include a first right of refusal over two undeveloped blocks.
