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To: t4texas who wrote (161098)	12/15/2011 1:38:07 PM
From: Dennis Roth	1 Recommendation Read Replies (1) of 206092

Cnooc, Sinopec Vie Over Fracking Chinese Oil Producers and Saudi Aramco Compete for $2 Billion Stake in U.S. Shale-Gas Services Company online.wsj.com excerpt: Frac Tech is close to agreeing to joint ventures with Sinopec in China, Saudi Aramco in the Mideast and Repsol YPF SA in Argentina, according to the person familiar with Frac Tech. The Fort Worth, Texas, company would take a 49% stake in each project, with the foreign partner taking the remainder. A consortium led by Singaporean state-owned investment firm Temasek Holdings Pty. Ltd. and including sovereign-wealth funds Korea Investment Corp., China Investment Corp. and the Abu Dhabi Investment Council owns 70% of Frac Tech. The rest is held by U.S. natural-gas company Chesapeake Energy Corp. The stake sale up for bid likely would involve Frac Tech issuing new shares and a partial stake sale by existing shareholders, the person familiar with the matter said. The funds raised would help Frac Tech's international expansion.

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