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-- Ross is participating in first auction for the natural gas blocks through EXCO with a JV partner in Chinese.
-- Investing in China shale gas is like investing in Wild West. It is still the early days. China has a lot of reserves but has only drilled about 63 wells so far. They have a long way to go, but there is lot of potential.
-- China's economy is slowing but still has 6% growth expected which is much better than a lot of western nations.
-- It is a lot harder to drill in the kind of reserve and geography China has than the U.S. It will be costly to drill, but low labor cost will compensate for that.
-- Main issue with drilling in China is water, as fracking uses a lot of water, but overall drilling will still be much cheaper in China than the U.S.
Credit and source: www.cnbc.com, CNBC
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