The company will be undergoing a 304.44 for 1 reverse split with shareholders owning less than 15,222 shares being unaffected by split. For more details, read the company's SEC filing. Pertinent details are in the section titled "The Reverse Split" (surprisingly enough). Here is an excerpt:
At the time of the Reverse Split, holders of outstanding shares of Common Stock will receive one share of post-Reverse Split Common Stock for each 304.44 shares of pre-Reverse Split Common Stock held as of the close of business on the date the Amendment is filed. No fractional shares of Common Stock will be issued in connection with the Reverse Split. All fractional share amounts resulting from the Reverse Split will be rounded up to the next whole new share. In connection with the Reverse Split, the Company's Board of Directors, in its sole discretion, may provide special treatment to shareholders to preserve round lot holders (i.e., holders owning at least 100 shares) after the Reverse Split. In the event the Board determines to provide such special treatment, shareholders holding 30,444 or fewer shares of Common Stock, but at least 15,222 shares of Common Stock, will receive 100 shares of Common Stock after the Reverse Split, and persons holding less than 15,222 shares of Common Stock would not be affected. The terms and conditions of special treatment afforded to the Company's shareholders to preserve round lot shareholders, if any, including the record dates for determining which shareholders may be eligible for such special treatment, will be established in the discretion of the Board of Directors.
The last quote I can see shows a price of $0.013 per share. Now for the bad news. The split should take effect 20 days after the date of mailing the notice to the shareholder's of record at the close of business 10/16/06. You need three days for a stock trade to "settle," so you must buy any shares today (Oct. 11) if you want to be a shareholder of record in time. The company will also be changing its name on this date, and most likely, will change its stock symbol too. I do not know what the new symbol will be, but the new name will be Sino Gas International Holdings, Inc.
As always, do your own due diligence before investing. This is neither financial advice nor a solicitation to buy or sell any security. Any number of things can happen with these plays, so I recommend only investing what you are comfortable losing.