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silberesel

04/15/11 9:10 AM

#1501 RE: peb64 #1497

PHI Energy expects to conclude a joint venture agreement with Garuda Coal within 30 days of the signing of the letter of intent. PHI Energy will be the controlling shareholder in the joint venture company, providing off-take contracts and financing to the project while Garuda Coal will be responsible for securing necessary concessions rights and managing local administrative and regulatory affairs.

now we have nearly 60 days left.....Oh Henry....too much cocaine? Don't know....