1. The PROJECT: In China, TPC will have three main products: coalbed methane (CBM), electricity, and carbon credits. The markets for CBM and electricity in China are large and growing rapidly; and by satisfying these markets in an environmentally-friendly way can generate a large supply of carbon credits. Over the last quarter century, the Chinese economy has performed much better than the world average and also than most developed countries. This has resulted in China becoming the world s second largest consumer of energy products, after the United States, with about consumption of 1.4 billion tonnes of oil-equivalent in 2005 (approximately one tonne per person). However, the composition of energy production is unbalanced. China s energy industry is dominated by coal, which accounted for more than 65 percent of total energy production during 2000-05. By contrast, natural gas amounted to only 2.4 percent of total primary energy production. The Government has set a target for the share of natural gas in total energy production in 2010 of eight percent. Along with the serious environmental issue caused by the heavy reliance on coal, scarcity of energy is another important issue. It has the potential to act as a serious constraint on economic development, since the country s economic growth is mainly built on an economic structure characterized by high-energy consumption and low energy-efficiency. China possesses the world s third largest reserves of CBM. The total volume of CBM resources at depth 300-2,000 meters in onshore bituminous and anthracite coal fields is almost 32 trillion cubic meters, of which 10 trillion cubic meters can be exploited. It is TPC s intention to apply the company s extensive resources and capabilities in CBM development to activities in developing countries that have significant CBM potential and also offer significant opportunities for carbon emission reduction via mine emission reduction and the replacement of coal-generated electricity with methane-generated electricity. TPC regards China as the market with most potential for CBM development. It is conducting promising negotiations with two national petroleum companies (Petro China and Sinopec), and has won active support from key industry players in the Xinjiang Autonomous Region. TPC s strategy in China is to create value and cash flow by exploiting oil and gas reserves. The company will rely on its experience, expertise, contacts and creative abilities to identify, evaluate, acquire, and implement profitable projects. Since value and cash flow generation with minimal risk is the goal, multi-faceted projects will be considered. 2. THE PRODUCT a. Coalbed Methane Coalbed methane (CBM) is a type of non-conventional natural gas. It contains virtually 100 percent methane (CH4) and is often sourced in the shallow depths of coal seams with high water pressure. It is generated either from a biological process involving microbial action or from a thermal process associated with increasing heat as the depth of the coal seam increases. Unlike conventional energy sources such as coal and oil, CBM is a clean-burning fuel.
TrueStar Petroleum Corporation is Vancouver-based company (British Columbia, Canada) with a phone number 6046696952. Our data show that the company is located at the address: 333 Seymour St. The company has a web site: www.truestar-petroleum.com.
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