EMAIL DETAILS

Great update Jimmy. Thank you! Have a great weekend and see you in the office Tuesday.

Devon Archer
646 436 3745

> On May 23, 2014, at 4:53 PM, James Bulger <jbulger@thorntonai.com> wrote:
>
> Gentlemen
> During the weekly BHR call last night Lindsay informed the whole China team excluding Jonathan about the message you both conveyed during the morning call with Lindsay. She was very clear to all on the phone that the signing of an investment contract with Gouxin or BOC or PICC is task number 1. Lindsay asked me to say a few words about the need for a contracted Chinese anchor investor. The message cannot be any more clear. I know this has been a refrain with Jonathan since the beginning it is now absolutely clear and reinforced with the whole BHR China team. The other point we beat home was that for the Western pitch the Deck must be more sector specific focused.
> Our call yesterday morning was good it gave Lindsay the empowerment she needed to kick ass and make changes and keep them focused she is on her way to Beijing to work with the BHR boys for 3 days next week.
> Andy, Ming and Jonathan were meeting Gouxin during the day Friday (last night) so we should get a good update from Jonathan on Tuesday. I also heard last night Gouxin wants to put in RMB 5 billion, RMB 3 billion as an LP and RMB 2 billion as some sort of seperately managed GP and co invest. We need to keep this thing very simple in the beginning so we can get a contract executed ASAP
> Sorry for being long winded just thought you should know all this before we see jonathan on Tuesday.
> Mike Leonard will circulate on Monday his high level research on the KAZ/Sino energy business so you both can review prior to your trip.
> Thanks
> Jimmy
>
>
> --
> James J. Bulger
> Chairman
> Thornton Group LLC
> 14 Beacon Street, Suite 804A
> Boston, MA 02108
> Office tel: 617.248.9440