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    REGISTRATION
      RIGHTS AGREEMENT

     

    This
      Registration Rights Agreement (this "Agreement")
      is made
      and entered into as of September 7, 2007, by and among Sino Gas International
      Holdings, Inc., a Utah corporation (the "Company"),
      and
      the investors signatory hereto (each a "Investor"
      and
      collectively, the "Investors").

     

    This
      Agreement is made pursuant to the Securities Purchase Agreement, dated as of
      the
      date hereof among the Company and the Investors (the "Purchase
      Agreement").

     

    The
      Company and the Investors hereby agree as follows: 

     

    1.    Definitions.
      Capitalized terms used and not otherwise defined herein that are defined in
      the
      Purchase Agreement will have the meanings given such terms in the Purchase
      Agreement. As used in this Agreement, the following terms have the respective
      meanings set forth in this Section 1:

     

    "2008
      Delivery Date"
      means
      the date on which the 2008 Make Good Shares are required to be delivered to
      the
      Investors by the Company pursuant to Section 4.12 of the Purchase
      Agreement.

     

    "Advice"
      has
      the
      meaning set forth in Section 6(d).

     

    "Commission
      Comments" means
      written comments pertaining
      solely to Rule 415 which
      are
      received by the Company from the Commission (a copy of which shall have been
      provided by the Company to the Holders) to a filed Registration Statement which
      requires the Company to limit the amount of shares which may be included therein
      to a number of shares which is less than such amount sought to be included
      therein as filed with the Commission.

     

    "Effective
      Date"
      means,
      as to a Registration Statement, the date on which such Registration Statement
      is
      first declared effective by the Commission.

     

    “Effectiveness
      Date”
      means

     

    (a)
      with
      respect to the initial Registration Statement required to be filed under Section
      2(a), the earlier of: (i) the 150th day following the Closing Date and (ii)
      the
      third Trading Day following the date on which the Company is notified by the
      Commission that the initial Registration Statement will not be reviewed or
      is no
      longer subject to further review and comments;

     

    (b)
      with
      respect to a Registration Statement required to be filed under Section 2(b),
      the
      earlier of: (i) the 90th
      day
      following the Filing
      Date and
      (ii)
      the third Trading Day following the date on which the Company is notified by
      the
      Commission that such Registration Statement will not be reviewed or is no longer
      subject to further review and comments; provided,
      however,
      that in
      no event shall the Effectiveness Date of a Registration Statement required
      to be filed under Section 2(b), be
      earlier than the earliest date on which, based on SEC Guidance, the SEC will
      declare effective such Registration Statement.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (c)
      with
      respect to a Registration Statement required to be filed under Section 2(c),
      the
      earlier of: (i) the 150th
      day
      following the date on which the Company becomes eligible to utilize Form S-3
      to
      register the resale of Common Stock (provided,
      that, if the Commission reviews and has written comments to such filed
      Registration Statement that would require the filing of a pre-effective
      amendment thereto with the Commission, then the Effectiveness Date under this
      clause (c)(i) shall be the 180th
      day
      following such date);
      and
      (ii) the third Trading Day following the date on which the Company is notified
      by the Commission that the Registration
      Statement will not be reviewed or is no longer subject to further review and
      comments; and 

     

    (d)
      with
      respect to a Registration Statement required to be filed under Section 2(d),
      the
      earlier of: (i) the 150thth
      day
      following the 2008 Delivery Date (provided, that, if the Commission reviews
      and
      has written comments to such filed Registration Statement that would require
      the
      filing of a pre-effective amendment thereto with the Commission, then the
      Effectiveness Date under this clause (d)(i) shall be the 180th
      day
      following the 2008 Delivery Date), and (ii) the fifth Trading Day following
      the
      date on which the Company is notified by the Commission that the
      Registration Statement will not be reviewed or is no longer subject to further
      review and comments.

     

    "Effectiveness
      Period"
      means,
      as to any Registration Statement required to be filed pursuant to this
      Agreement, the period commencing on the Effective Date of such Registration
      Statement and ending on the earliest to occur of (a) the second anniversary
      of
      such Effective Date, (b) such time as all of the Registrable Securities covered
      by such Registration Statement have been publicly sold by the Holders of the
      Registrable Securities included therein, or (iii) such time as all of the
      Registrable Securities covered by such Registration Statement may be sold by
      the
      Holders pursuant to Rule 144(k) as determined by the counsel to the Company
      pursuant to a written opinion letter to such effect, such opinion to be
      delivered within five days of an Investors’ written request, addressed and
      acceptable to the Company's transfer agent and the affected
      Holders.

     

    "Exchange
      Act"
      means
      the Securities Exchange Act of 1934, as amended.

     

    "Filing
      Date"
      means

     

    (a)
      with
      respect to the initial Registration Statement required to be filed under Section
      2(a), the 45th
      day
      following the Closing Date; 

     

    (b)
      with
      respect to any
      Registration Statements
      required
      to be filed under Section 2(b),
      each
      such Registration Statement shall be filed by the
      later
      of (i) for
      the
      initial Registration Statement required to be filed under Section 2(b),
30
      days
      after the
      six-month anniversary of the Effective Date of the Registration Statement
      required to be filed under Section 2(a) (or
      thirty
      days following the earliest practical date on which the Company is permitted
      by
      SEC Guidance to file such additional Registration Statement, if earlier)
and for
      all
      subsequent Registration Statements, 30 days after the six-month anniversary
      of
      the Effective Date of the immediately preceding Registration Statement required
      to be filed under Section 2(b), (ii)
      the
      60th
      day
      following such time as 75%
      of all
      Registrable Securities which are included in the Registration Statement required
      to be filed under Section 2(a) have been sold
      and for
      all subsequent Registration Statements, the 60th
      day
      following such time as 75% of all Registrable Securities which are included
      in
      the immediately preceding Registration Statement required to be filed under
      Section 2(b) have been sold, as applicable;

     

    
      
        
        

      

      
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    (c)
      with
      respect to a Registration Statement required to be filed under Section 2(c),
      the
      60th day following the date on which the Company becomes eligible to utilize
      Form S-3 to register the resale of Common Stock;
      

     

    (d)
      with
      respect to the Registration Statement required to be filed under Section 2(d),
      the 45th
      day
      following the 2008 Delivery Date;
      and
 

     

    (e)
      If
      any
      Filing Date or Effectiveness Date occurs on a date which is not a Trading Day,
      the Filing Date or Effectiveness Date, as the case may be, shall the next day
      which is a Trading Day.

     

    "Holder"
      or
"Holders"
      means
      the holder or holders, as the case may be, from time to time of Registrable
      Securities.

     

    “Indemnified
      Party”
      has the
      meaning set forth in Section 5(c).

     

    “Indemnifying
      Party”
      has the
      meaning set forth in Section 5(c).

     

    “Losses”
      has the
      meaning set forth in Section 5(a).

     

    “New
      York Courts”
      means
      the state and federal courts sitting in the City of New York, Borough of
      Manhattan.

     

    "Proceeding"
      means an
      action, claim, suit, investigation or proceeding (including, without limitation,
      an investigation or partial proceeding, such as a deposition), whether commenced
      or threatened.

     

    “Prospectus”
      means
      the prospectus included in a Registration Statement (including, without
      limitation, a prospectus that includes any information previously omitted from
      a
      prospectus filed as part of an effective registration statement in reliance
      upon
      Rule 430A promulgated under the Securities Act), as amended or supplemented
      by
      any prospectus supplement, with respect to the terms of the offering of any
      portion of the Registrable Securities covered by a Registration Statement,
      and
      all other amendments and supplements to the Prospectus, including post-effective
      amendments, and all material incorporated by reference or deemed to be
      incorporated by reference in such Prospectus.

     

    “Registrable
      Securities”
      means:
      (i) the Shares, (ii) any shares of Common Stock issuable upon the exercise
      of warrants issued to any placement agent (the
      “Placement
      Agent Warrants”)
      as
      compensation in connection with the financing that is the subject of the
      Purchase Agreement,
      (iii)
      the 2008 Make Good
      Shares,
      as
      applicable,
      and
(iv)
      any
      securities issued or issuable upon any stock split, dividend or other
      distribution, recapitalization or similar event, or any price
      adjustment as
      a
      result of such stock splits, reverse stock splits or similar events with
      respect to any of the securities referenced in (i),
      (ii),
      or
      (iii)
      above.

     

    
      
        
        

      

      
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    "Registration
      Statement"
      means
      the initial registration statement required to be filed in accordance with
      Section 2(a) and any additional registration statement(s) required to be filed
      under Section 2(b),
      2(c)
      and
      2(d),
      including (in each case) the Prospectus, amendments and supplements to such
      registration statements or Prospectus, including pre- and post-effective
      amendments, all exhibits thereto, and all material incorporated by reference
      or
      deemed to be incorporated by reference therein.

     

    "Rule
      144"
      means
      Rule 144 promulgated by the Commission pursuant to the Securities Act, as such
      Rule may be amended from time to time, or any similar rule or regulation
      hereafter adopted by the Commission having substantially the same effect as
      such
      Rule.

     

    "Rule
      415"
      means
      Rule 415 promulgated by the Commission pursuant to the Securities Act, as such
      Rule may be amended from time to time, or any similar rule or regulation
      hereafter adopted by the Commission having substantially the same effect as
      such
      Rule.

     

    "Rule
      424"
      means
      Rule 424 promulgated by the Commission pursuant to the Securities Act, as such
      Rule may be amended from time to time, or any similar rule or regulation
      hereafter adopted by the Commission having substantially the same effect as
      such
      Rule.

     

    "Securities
      Act"
      means
      the Securities Act of 1933, as amended.

     

    "Shares"
      means
      the shares of Common Stock issued or issuable to the Investors pursuant to
      the
      Purchase Agreement.

     

    2.    Registration.

     

    (a) On
      or
      prior to the applicable Filing Date, the Company shall prepare and file with
      the
      Commission a Registration Statement covering the resale of all Registrable
      Securities
      (other
      than the 2008 Make Good Shares)
      for an
      offering to be made on a continuous basis pursuant to Rule 415, on Form SB-2
      (or
      on such other form appropriate for such purpose). Such Registration Statement
      shall contain (except if otherwise required pursuant to written comments
      received from the Commission upon a review of such Registration Statement,
      other
      than as to the characterization of any Holder as an underwriter, which shall
      not
      occur without such Holder’s consent) the "Plan of Distribution" attached hereto
      as Annex A. The Company shall cause such Registration Statement to be declared
      effective under the Securities Act as
      soon as
      possible but, in any event, no later than its Effectiveness Date, and shall
      use
      its reasonable best efforts to keep the Registration Statement continuously
      effective during the entire Effectiveness Period. The
      initial Registration Statement shall contain only 1) the Shares, 2) the
      Placement Agent Warrant Shares
      and (3)
      the securities set forth on Schedule 3.1(x) to the Purchase
      Agreement. 
      If
      the
      amount of securities which may be included in the Registration Statement filed
      pursuant to this Section 2(a) is limited due to Commission
      Comments, then
      in
      no such event shall the number of Shares included
      in such Registration
      Statement
      be
      reduced unless and until the other securities of the Company included in such
      registration statement are first entirely excluded from the Registration
      Statement in accordance with the next sentence. If required by the preceding
      sentence, securities of
      the
      Company shall
      be
      reduced in their entirety and if necessary on a pro-rata basis  from
      such
      Registration Statement (in the following order): first, any
      securities of the Company to be included in such Registration Statement pursuant
      to Section 6(b) and, second,.
      any Registrable
      Securities
      held by
      Roth Capital Partners, LLC. By 5:00 p.m. (New York City time) on the first
      Business Day immediately following the Effective Date of such Registration
      Statement, the Company shall file with the Commission in accordance with Rule
      424 under the Securities Act the final prospectus to be used in connection
      with
      sales pursuant to such Registration Statement (whether or not such filing is
      technically required under such Rule). 

     

    
      
        
        

      

      
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    (b) If
      all of
      the Registrable Securities to be included in the Registration Statement filed
      pursuant to Section 2(a) cannot be so included due to Commission Comments,
      then
      the Company shall prepare and file by the applicable
      Filing
      Date for such Registration Statement(s),
      such
      number of
      additional Registration Statements
      as may be necessary in order to ensure that
      all
      Registrable Securities are
      covered
      by an existing and effective Registration Statement. Accordingly,
      if for example, an initial Registration Statement is filed under Section 2(b)
      to
      register Registrable Securities removed from a Registration Statement filed
      under Section 2(a) due to Commission Comments and Commission Comments again
      require shares to be removed for such newly filed Registration Statement under
      this Section 2(b), then the Company will prepare and file additional
      Registration Statements until such time as all such required shares are covered
      by effective Registration Statements. Any Registration Statements to be filed
      under this Section shall be
      for an
      offering to be made on a continuous basis pursuant to Rule 415, on Form SB-2
      (or
      on such other form appropriate for such purpose). Such Registration Statement
      shall contain (except if otherwise required pursuant to written comments
      received from the Commission upon a review of such Registration Statement,
      other
      than as to the characterization of any Holder as an underwriter, which shall
      not
      occur without such Holder’s consent) the "Plan of Distribution" attached hereto
      as Annex
      A.
      The
      Company shall cause such Registration Statement to be declared effective under
      the Securities Act as soon as possible but, in any event, by its Effectiveness
      Date, and shall use its reasonable best efforts to keep such Registration
      Statement continuously effective under the Securities Act during the entire
      Effectiveness Period. If
      the
      amount of securities which may be included in the Registration Statement filed
      pursuant to this Section 2(b)
      is
      limited due to Commission Comments, then
      in
      no such event shall the number of Shares included
      in such Registration
      Statement
      be
      reduced unless and until the other securities of the Company included in such
      registration statement are first entirely excluded from the Registration
      Statement in accordance with the next sentence. If required by the preceding
      sentence securities of
      the
      Company shall
      be
      reduced in their entirety and if necessary on a pro-rata basis  from
      such
      Registration Statement (in the following order): first, any
      securities of the Company to be included in such Registration Statement pursuant
      to Section 6(b) and, second,
      any Registrable
      Securities
      held by
      Roth Capital Partners, LLC. By
      5:00
      p.m. (New York City time) on the first Business Day immediately following the
      Effective Date of such Registration Statement, the Company shall file with
      the
      Commission in accordance with Rule 424 under the Securities Act the final
      prospectus to be used in connection with sales pursuant to such Registration
      Statement (whether or not such filing is technically required under such Rule).
      

     

    
      
        
        

      

      
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    (c) Following
      any date on which the Company becomes eligible to use a registration statement
      on Form S-3 to register the Registrable Securities for resale, the Company
      shall
      file a registration statement on Form S-3 covering the Registrable Securities
      (or a post-effective amendment on Form S-3 to the then effective Registration
      Statement) by the Filing Date for such Registration Statement and declared
      effective as soon as possible thereafter, but in any event prior to the
      Effectiveness Date therefor. Such Registration Statement shall contain (except
      if otherwise required pursuant to written comments received from the Commission
      upon a review of such Registration Statement, other than as to the
      characterization of any Holder as an underwriter, which shall not occur without
      such Holder’s consent) the "Plan of Distribution" attached hereto as
Annex
      A.
      The
      Company shall use its reasonable best efforts to keep such Registration
      Statement continuously effective under the Securities Act during the entire
      Effectiveness Period. By 5:00 p.m. (New York City time) on the first Business
      Day immediately following the Effective Date of such Registration Statement,
      the
      Company shall file with the Commission in accordance with Rule 424 under the
      Securities Act the final prospectus to be used in connection with sales pursuant
      to such Registration Statement (whether or not such filing is technically
      required under such Rule). 

     

    (d) On
      or
      prior to the applicable Filing Date, the Company shall prepare and file with
      the
      Commission a Registration Statement covering the resale of the 2008 Make Good
      Shares on Form SB-2 or Form S-3 if the Company is then eligible to utilize
      such
      Form (or on such other form appropriate for such purpose) and shall cause such
      Registration Statement to be filed by the Filing Date for such Registration
      Statement and declared effective under the Securities Act as soon as possible
      thereafter, but in any event prior to the Effectiveness Date therefor. Such
      Registration Statement shall contain (except if otherwise required pursuant
      to
      written comments received from the Commission upon a review of such Registration
      Statement, other than as to the characterization of any Holder as an
      underwriter, which shall not occur without such Holder’s consent) the "Plan of
      Distribution" attached hereto as Annex A. The Company shall use its reasonable
      best efforts to keep such Registration Statement continuously effective under
      the Securities Act during the entire Effectiveness Period which is applicable
      to
      it. By 5:00 p.m. (New York City time) on the first Business Day immediately
      following the Effective Date of such Registration Statement, the Company shall
      file with the Commission in accordance with Rule 424 under the Securities Act
      the final prospectus to be used in connection with sales pursuant to such
      Registration Statement (whether or not such filing is technically required
      under
      such Rule). 

     

    
      
        
        

      

      
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    (e) If
      (i)
      any
      Registration Statement is not filed on or prior to its applicable Filing Date
      covering the Registrable Securities required under this Agreement to
      be
      included therein (if the Company files a Registration Statement without
      affording the Holders the opportunity to review and comment on the same as
      required by Section 3(a) hereof, the Company shall not be deemed to have
      satisfied this clause (i)), or (ii)
      any
      Registration Statement is not declared effective by the Commission on or prior
      to its required Effectiveness Date, or if by the third Business Day immediately
      following the applicable Effective Date the Company shall not have filed a
      “final” prospectus for the Registration Statement with the Commission under Rule
      424(b) in accordance with Section 2(a), 2(b),
      2(c)
      or
      2(d)
      herein,
      as the case may be (whether or not such a prospectus is technically required
      by
      such Rule), or (iii) after its applicable Effective Date, without regard for
      the
      reason thereunder or efforts therefor, such Registration Statement ceases for
      any reason to be effective and available to the Holders as to all Registrable
      Securities which it covers at any time prior to the expiration of its
      Effectiveness Period for more than an aggregate of 20 Trading Days (which need
      not be consecutive) (any such failure or breach being referred to as an
“Event,”
      and for
      purposes of clauses (i) or (ii) the date on which such Event occurs, or for
      purposes of clause (iii) the date which such 20 Trading Day-period is exceeded,
      being referred to as “Event
      Date”),
      then
      in addition to any other rights available to the Holders or under applicable
      law: the Company shall pay to each Holder an amount in cash, as partial
      liquidated damages and not as a penalty, equal to 1.0% of the aggregate
      Investment Amount paid by such Holder for Shares pursuant to the Purchase
      Agreement, together with interest, if applicable. The
      Company shall pay any liquidated damages to Holders within five days of the
      first day of the month after which each 30-day period in which such liquidated
      damages have accrued. If the Company fails to pay any liquidated damages
      pursuant to this Section in full within seven days after the date payable,
      the
      Company will pay interest thereon at a rate of 12% per annum (or such lesser
      maximum amount that is permitted to be paid by applicable law) to the Holder,
      accruing daily from the date such liquidated damages are due until such amounts,
      plus all such interest thereon, are paid in full. The
      parties agree that the Company will not be liable for liquidated damages under
      this Agreement with respect to any Placement Agent Warrant Shares. In no event
      will the Company be liable for liquidated damages under this Agreement in excess
      of 1.0% of the aggregate Investment Amount of the Holders in any 30-day period
      and the maximum aggregate liquidated damages payable to a Holder under this
      Agreement shall be ten percent (10%) of the aggregate Investment Amount paid
      by
      such Holder pursuant to the Purchase Agreement. The partial liquidated damages
      pursuant to the terms hereof shall apply on a daily pro-rata basis for any
      portion of a month prior to the cure of an Event. The Company shall not be
      liable for liquidated damages under this Agreement as to any Registrable
      Securities which are not permitted by the Commission to be included in a
      Registration Statement due solely to Commission Comments from the time that
      it
      is determined that such Registrable Securities are not permitted to be
      registered solely due to Commission Comments until such time as the provisions
      of this Agreement as to the next applicable Registration Statement required
      to
      be filed hereunder are triggered, in which case the provisions of this Section
      2(e)
      shall
      once again apply, if applicable.

     

    (f) Each
      Holder agrees to furnish to the Company a completed Questionnaire in the form
      attached to this Agreement as Annex
      B
      (a
“Selling
      Holder Questionnaire”).
      The
      Company shall not be required to include the Registrable Securities of a Holder
      in a Registration Statement and shall not be required to pay any liquidated
      or
      other damages under Section 2(e)
      to any
      Holder who fails to furnish to the Company a fully completed Selling Holder
      Questionnaire at least three Trading Days prior to the Filing Date (subject
      to
      the requirements set forth in Section 3(a)). 

     

    3.    Registration
      Procedures.

     

    In
      connection with the Company’s registration obligations hereunder, the Company
      shall:

     

    (a) Not
      less
      than four Trading Days prior to the filing of a Registration Statement or any
      related Prospectus or any amendment or supplement thereto, the Company shall
      furnish to each Holder copies of the “Selling Stockholders” section of such
      document, the “Plan of Distribution” and any risk factor contained in such
      document that addresses specifically this transaction or the Selling
      Stockholders, as proposed to be filed which documents will be subject to the
      review of such Holder. Each Holder shall have three Trading Days to comment
      in
      writing. Failure to comment thereon within such time shall be deemed approval.
      The Company shall not file a Registration Statement, any Prospectus or any
      amendments or supplements thereto in which the “Selling Stockholder” section
      thereof differs from the disclosure received from a Holder in its Selling Holder
      Questionnaire (as amended or supplemented). The Company shall not file a
      Registration Statement, any Prospectus or any amendments or supplements thereto
      in which it (i) characterizes any Holder as an underwriter, (ii)
      excludes a particular Holder due to such Holder refusing to be named as an
      underwriter, or (iii) reduces the number of Registrable Securities being
      registered on behalf of a Holder except in accordance with Article 2 of this
      Agreement, without such Holder’s express written authorization.

     

    
      
        
        

      

      
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    (b) (i)
      Prepare and file with the Commission such amendments, including post-effective
      amendments, to each Registration Statement and the Prospectus used in connection
      therewith as may be necessary to keep such Registration Statement continuously
      effective as to the applicable Registrable Securities for its Effectiveness
      Period and prepare and file with the Commission such additional Registration
      Statements in order to register for resale under the Securities Act all of
      the
      Registrable Securities; (ii) cause the related Prospectus to be amended or
      supplemented by any required Prospectus supplement, and as so supplemented
      or
      amended to be filed pursuant to Rule 424; (iii) respond as promptly as
      reasonably possible to any comments received from the Commission with respect
      to
      each Registration Statement or any amendment thereto; (iv) make available to
      the
      Holders true and complete copies of all correspondence from and to the
      Commission relating to such Registration Statement that would not result in
      the
      disclosure to the Holders of material and non-public information concerning
      the
      Company; and (v) comply in all material respects with the provisions of the
      Securities Act and the Exchange Act with respect to the Registration Statements
      and the disposition of all Registrable Securities covered by each Registration
      Statement. 

     

    (c) Notify
      the Holders as promptly as reasonably possible (and, in the case of (i)(A)
      below, not less than three Trading Days prior to such filing and, in the case
      of
      (v) below, not less than three Trading Days prior to the financial statements
      in
      any Registration Statement becoming ineligible for inclusion therein) (i)(A)
      when a Prospectus or any Prospectus supplement or post-effective amendment
      to a
      Registration Statement is proposed to be filed; (B) when the Commission notifies
      the Company whether there will be a "review" of such Registration Statement
      and
      whenever the Commission comments in writing on such Registration Statement
      (the
      Company shall make available true and complete copies thereof and all written
      responses thereto to each of the Holders that pertain to the Holders as a
      Selling Stockholder or to the Plan of Distribution, but not information which
      the Company believes would constitute material and non-public information);
      and
      (C) with respect to each Registration Statement or any post-effective amendment,
      when the same has become effective; (ii) of any request by the Commission or
      any
      other Federal or state governmental authority for amendments or supplements
      to a
      Registration Statement or Prospectus or for additional information; (iii) of
      the
      issuance by the Commission of any stop order suspending the effectiveness of
      a
      Registration Statement covering any or all of the Registrable Securities or
      the
      initiation of any Proceedings for that purpose; (iv) of the receipt by the
      Company of any notification with respect to the suspension of the qualification
      or exemption from qualification of any of the Registrable Securities for sale
      in
      any jurisdiction, or the initiation or threatening of any Proceeding for such
      purpose; and (v) of the occurrence of any event or passage of time that makes
      the financial statements included in a Registration Statement ineligible for
      inclusion therein or any statement made in such Registration Statement or
      Prospectus or any document incorporated or deemed to be incorporated therein
      by
      reference untrue in any material respect or that requires any revisions to
      such
      Registration Statement, Prospectus or other documents so that, in the case
      of
      such Registration Statement or the Prospectus, as the case may be, it will
      not
      contain any untrue statement of a material fact or omit to state any material
      fact required to be stated therein or necessary to make the statements therein,
      in light of the circumstances under which they were made, not
      misleading.

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

     

    (d) Use
      its
      reasonable best efforts to avoid the issuance of, or, if issued, obtain the
      withdrawal of (i) any order suspending the effectiveness of a Registration
      Statement, or (ii) any suspension of the qualification (or exemption from
      qualification) of any of the Registrable Securities for sale in any
      jurisdiction, at the earliest practicable moment.

     

    (e) Make
      available to each Holder, without charge, at least one conformed copy of each
      Registration Statement and each amendment thereto, including financial
      statements and schedules and, to the extent requested by such Holder, all
      documents incorporated or deemed to be incorporated therein by reference and
      all
      exhibits thereto (including those previously furnished) promptly after the
      filing of such documents with the Commission.

     

    (f) Promptly
      deliver to each Holder, without charge, as many copies of each Prospectus or
      Prospectuses (including each form of prospectus) and each amendment or
      supplement thereto as such Persons may reasonably request. The Company hereby
      consents to the use of such Prospectus and each amendment or supplement thereto
      by each of the selling Holders in connection with the offering and sale of
      the
      Registrable Securities covered by such Prospectus and any amendment or
      supplement thereto.

     

    (g) Prior
      to
      any public offering of Registrable Securities, register or qualify such
      Registrable Securities for offer and sale under the securities or Blue Sky
      laws
      of all jurisdictions within the United States as any Holder may request, to
      keep
      each such registration or qualification (or exemption therefrom) effective
      during the Effectiveness Period and to do any and all other acts or things
      necessary or advisable to enable the disposition in such jurisdictions of the
      Registrable Securities covered by the Registration Statements. 

     

    (h) Cooperate
      with the Holders to facilitate the timely preparation and delivery of
      certificates representing Registrable Securities to be delivered to a transferee
      pursuant to the Registration Statements, which certificates shall be free,
      to
      the extent permitted by the Purchase Agreement, of all restrictive legends,
      and
      to enable such Registrable Securities to be in such denominations and registered
      in such names as any such Holders may request.

     

    (i) Upon
      the
      occurrence of any event contemplated by Section 3(c)(v), as promptly as
      reasonably possible, prepare a supplement or amendment, including a
      post-effective amendment, to the affected Registration Statements or a
      supplement to the related Prospectus or any document incorporated or deemed
      to
      be incorporated therein by reference, and file any other required document
      so
      that, as thereafter delivered, no Registration Statement nor any Prospectus
      will
      contain an untrue statement of a material fact or omit to state a material
      fact
      required to be stated therein or necessary to make the statements therein,
      in
      light of the circumstances under which they were made, not
      misleading.

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

     

    4.    Registration
      Expenses.
      All
      fees and expenses incident to the performance of or compliance with this
      Agreement by the Company shall be borne by the Company whether or not any
      Registrable Securities are sold pursuant to a Registration Statement. The fees
      and expenses referred to in the foregoing sentence shall include, without
      limitation, (i) all registration and filing fees (including, without limitation,
      fees and expenses (A) with respect to filings required to be made with any
      Trading Market on which the Common Stock is then listed for trading, and (B)
      in
      compliance with applicable state securities or Blue Sky laws), (ii) printing
      expenses (including, without limitation, expenses of printing certificates
      for
      Registrable Securities and of printing prospectuses if the printing of
      prospectuses is reasonably requested by the holders of a majority of the
      Registrable Securities included in the Registration Statement), (iii) messenger,
      telephone and delivery expenses, (iv) fees and disbursements of counsel for
      the
      Company, (v) Securities Act liability insurance, if the Company so desires
      such
      insurance, and (vi) fees and expenses of all other Persons retained by the
      Company in connection with the consummation of the transactions contemplated
      by
      this Agreement. In addition, the Company shall be responsible for all of its
      internal expenses incurred in connection with the consummation of the
      transactions contemplated by this Agreement (including, without limitation,
      all
      salaries and expenses of its officers and employees performing legal or
      accounting duties), the expense of any annual audit and the fees and expenses
      incurred in connection with the listing of the Registrable Securities on any
      securities exchange as required hereunder.

     

    5.    Indemnification.

     

    (a) Indemnification
      by the Company.
      The
      Company shall, notwithstanding any termination of this Agreement, indemnify
      and
      hold harmless each Holder, the officers, directors, agents, investment advisors,
      partners, members and employees of each of them, each Person who controls any
      such Holder (within the meaning of Section 15 of the Securities Act or Section
      20 of the Exchange Act) and the officers, directors, agents and employees of
      each such controlling Person, to the fullest extent permitted by applicable
      law,
      from and against any and all losses, claims, damages, liabilities, costs
      (including, without limitation, reasonable costs of preparation and reasonable
      attorneys' fees) and expenses (collectively, "Losses"),
      as
      incurred, arising out of or relating to any untrue or alleged untrue statement
      of a material fact contained in any Registration Statement, any Prospectus
      or
      any form of prospectus or in any amendment or supplement thereto or in any
      preliminary prospectus, or arising out of or relating to any omission or alleged
      omission of a material fact required to be stated therein or necessary to make
      the statements therein (in the case of any Prospectus or form of prospectus
      or
      supplement thereto, in light of the circumstances under which they were made)
      not misleading, except to the extent, but only to the extent, that (1) such
      untrue statements or omissions are based solely upon information regarding
      such
      Holder furnished in writing to the Company by such Holder expressly for use
      therein, or to the extent that such information relates to such Holder or such
      Holder's proposed method of distribution of Registrable Securities and was
      reviewed and expressly approved in writing by such Holder expressly for use
      in
      the Registration Statement, such Prospectus or such form of Prospectus or in
      any
      amendment or supplement thereto (it being understood that the Holder has
      approved Annex A hereto for this purpose) or (2) in the case of an occurrence
      of
      an event of the type specified in Section 3(c)(ii)-(v), the use by such Holder
      of an outdated or defective Prospectus after the Company has notified such
      Holder in writing that the Prospectus is outdated or defective and prior to
      the
      receipt by such Holder of an Advice or an amended or supplemented Prospectus,
      but only if and to the extent that following the receipt of the Advice or the
      amended or supplemented Prospectus the misstatement or omission giving rise
      to
      such Loss would have been corrected. The Company shall notify the Holders
      promptly of the institution, threat or assertion of any Proceeding of which
      the
      Company is aware in connection with the transactions contemplated by this
      Agreement.

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

     

    (b) Indemnification
      by Holders.
      Each
      Holder shall, severally and not jointly, in proportion to the respective number
      of shares included by each such Holder, if Registrable Securities are included
      in the securities as to which such registration, qualification or compliance
      is
      being effected, notwithstanding any termination of this Agreement, indemnify
      and
      hold harmless the Company, its directors, officers, agents and employees, each
      Person who controls the Company (within the meaning of Section 15 of the
      Securities Act and Section 20 of the Exchange Act), and the directors, officers,
      agents or employees of such controlling Persons, to the fullest extent permitted
      by applicable law, from and against all Losses, as incurred, arising solely
      out
      of or based solely upon: (x) such Holder's failure to comply with the prospectus
      delivery requirements of the Securities Act or (y) any untrue statement of
      a
      material fact contained in any Registration Statement, any Prospectus, or any
      form of prospectus, or in any amendment or supplement thereto, or arising solely
      out of or based solely upon any omission of a material fact required to be
      stated therein or necessary to make the statements therein not misleading to
      the
      extent, but only to the extent that, (1) such untrue statements or omissions
      are
      based solely upon information regarding such Holder furnished in writing to
      the
      Company by such Holder expressly for use therein, or to the extent that such
      information relates to such Holder or such Holder's proposed method of
      distribution of Registrable Securities and was reviewed and expressly approved
      in writing by such Holder expressly for use in the Registration Statement (it
      being understood that the Holder has approved Annex A hereto for this purpose),
      such Prospectus or such form of Prospectus or in any amendment or supplement
      thereto or (2) in the case of an occurrence of an event of the type specified
      in
      Section 3(c)(ii)-(v), the use by such Holder of an outdated or defective
      Prospectus after the Company has notified such Holder in writing that the
      Prospectus is outdated or defective and prior to the receipt by such Holder
      of
      an Advice or an amended or supplemented Prospectus, but only if and to the
      extent that following the receipt of the Advice or the amended or supplemented
      Prospectus the misstatement or omission giving rise to such Loss would have
      been
      corrected. In no event shall the liability of any selling Holder hereunder
      be
      greater in amount than the dollar amount of the net proceeds received by such
      Holder upon the sale of the Registrable Securities giving rise to such
      indemnification obligation.

     

    (c) Conduct
      of Indemnification Proceedings.
      If any
      Proceeding shall be brought or asserted against any Person entitled to indemnity
      hereunder (an "Indemnified
      Party"),
      such
      Indemnified Party shall promptly notify the Person from whom indemnity is sought
      (the "Indemnifying
      Party")
      in
      writing, and the Indemnifying Party shall assume the defense thereof, including
      the employment of counsel reasonably satisfactory to the Indemnified Party
      and
      the payment of all fees and expenses incurred in connection with defense
      thereof; provided, that the failure of any Indemnified Party to give such notice
      shall not relieve the Indemnifying Party of its obligations or liabilities
      pursuant to this Agreement, except (and only) to the extent that it shall be
      finally determined by a court of competent jurisdiction (which determination
      is
      not subject to appeal or further review) that such failure shall have
      proximately and materially adversely prejudiced the Indemnifying
      Party.

     

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

     

    An
      Indemnified Party shall have the right to employ separate counsel in any such
      Proceeding and to participate in the defense thereof, but the fees and expenses
      of such counsel shall be at the expense of such Indemnified Party or Parties
      unless: (1) the Indemnifying Party has agreed in writing to pay such fees and
      expenses; (2) the Indemnifying Party shall have failed promptly to assume the
      defense of such Proceeding and to employ counsel reasonably satisfactory to
      such
      Indemnified Party in any such Proceeding; or (3) the named parties to any such
      Proceeding (including any impleaded parties) include both such Indemnified
      Party
      and the Indemnifying Party, and such Indemnified Party shall have been advised
      by counsel that a conflict of interest is likely to exist if the same counsel
      were to represent such Indemnified Party and the Indemnifying Party (in which
      case, if such Indemnified Party notifies the Indemnifying Party in writing
      that
      it elects to employ separate counsel at the expense of the Indemnifying Party,
      the Indemnifying Party shall not have the right to assume the defense thereof
      and such counsel shall be at the expense of the Indemnifying Party). The
      Indemnifying Party shall not be liable for any settlement of any such Proceeding
      effected without its written consent, which consent shall not be unreasonably
      withheld. No Indemnifying Party shall, without the prior written consent of
      the
      Indemnified Party, effect any settlement of any pending Proceeding in respect
      of
      which any Indemnified Party is a party, unless such settlement includes an
      unconditional release of such Indemnified Party from all liability on claims
      that are the subject matter of such Proceeding.

     

    All
      fees
      and expenses of the Indemnified Party (including reasonable fees and expenses
      to
      the extent incurred in connection with investigating or preparing to defend
      such
      Proceeding in a manner not inconsistent with this Section) shall be paid to
      the
      Indemnified Party, as incurred, within ten Trading Days of written notice
      thereof to the Indemnifying Party (regardless of whether it is ultimately
      determined that an Indemnified Party is not entitled to indemnification
      hereunder; provided, that the Indemnifying Party may require such Indemnified
      Party to undertake to reimburse all such fees and expenses to the extent it
      is
      finally judicially determined that such Indemnified Party is not entitled to
      indemnification hereunder).

     

    (d) Contribution.
      If a
      claim for indemnification under Section 5(a) or 5(b) is unavailable to an
      Indemnified Party (by reason of public policy or otherwise), then each
      Indemnifying Party, in lieu of indemnifying such Indemnified Party, shall
      contribute to the amount paid or payable by such Indemnified Party as a result
      of such Losses, in such proportion as is appropriate to reflect the relative
      fault of the Indemnifying Party and Indemnified Party in connection with the
      actions, statements or omissions that resulted in such Losses as well as any
      other relevant equitable considerations. The relative fault of such Indemnifying
      Party and Indemnified Party shall be determined by reference to, among other
      things, whether any action in question, including any untrue or alleged untrue
      statement of a material fact or omission or alleged omission of a material
      fact,
      has been taken or made by, or relates to information supplied by, such
      Indemnifying Party or Indemnified Party, and the parties' relative intent,
      knowledge, access to information and opportunity to correct or prevent such
      action, statement or omission. The amount paid or payable by a party as a result
      of any Losses shall be deemed to include, subject to the limitations set forth
      in Section 5(c), any reasonable attorneys' or other reasonable fees or expenses
      incurred by such party in connection with any Proceeding to the extent such
      party would have been indemnified for such fees or expenses if the
      indemnification provided for in this Section was available to such party in
      accordance with its terms.

     

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

    

     

    The
      parties hereto agree that it would not be just and equitable if contribution
      pursuant to this Section 5(d) were determined by pro rata allocation or by
      any
      other method of allocation that does not take into account the equitable
      considerations referred to in the immediately preceding paragraph.
      Notwithstanding the provisions of this Section 5(d), no Holder shall be required
      to contribute, in the aggregate, any amount in excess of the amount by which
      the
      proceeds actually received by such Holder from the sale of the Registrable
      Securities subject to the Proceeding exceeds the amount of any damages that
      such
      Holder has otherwise been required to pay by reason of such untrue or alleged
      untrue statement or omission or alleged omission.

     

    The
      indemnity and contribution agreements contained in this Section are in addition
      to any liability that the Indemnifying Parties may have to the Indemnified
      Parties.

     

    6.    Miscellaneous.
      

     

    (a) Remedies.
      In the event of a breach by the Company or by a Holder, of any of their
      obligations under this Agreement, each Holder or the Company, as the case may
      be, in addition to being entitled to exercise all rights granted by law and
      under this Agreement, including recovery of damages, will be entitled to
      specific performance of its rights under this Agreement. The Company and each
      Holder agree that monetary damages would not provide adequate compensation
      for
      any losses incurred by reason of a breach by it of any of the provisions of
      this
      Agreement and hereby further agrees that, in the event of any action for
      specific performance in respect of such breach, it shall waive the defense
      that
      a remedy at law would be adequate.

     

    (b) No
      Piggyback on Registrations.
      Except
      as and to the extent specified in Schedule 3.1(x) to the Purchase Agreement,
      neither the Company nor any of its security holders (other than the Holders
      in
      such capacity pursuant hereto) may include securities of the Company in a
      Registration Statement other than the Registrable Securities, and the Company
      shall not during the Effectiveness Period enter into any agreement providing
      any
      such right to any of its security holders. 

     

    (c) Compliance.
      Each
      Holder covenants and agrees that it will comply with the prospectus delivery
      requirements of the Securities Act as applicable to it in connection with sales
      of Registrable Securities pursuant to the Registration Statement.

     

    
      
        
        

      

      
        13

        
          

        

      

      
        
        

      

    

     

    (d) Discontinued
      Disposition.
      Each
      Holder agrees by its acquisition of such Registrable Securities that, upon
      receipt of a notice from the Company of the occurrence of any event of the
      kind
      described in Section 3(c), such Holder will forthwith discontinue disposition
      of
      such Registrable Securities under the Registration Statement until such Holder's
      receipt of the copies of the supplemented Prospectus and/or amended Registration
      Statement or until it is advised in writing (the "Advice")
      by the
      Company that the use of the applicable Prospectus may be resumed, and, in either
      case, has received copies of any additional or supplemental filings that are
      incorporated or deemed to be incorporated by reference in such Prospectus or
      Registration Statement. The Company may provide appropriate stop orders to
      enforce the provisions of this paragraph.

     

    (e) Piggy-Back
      Registrations.
      If at
      any time during the Effectiveness Period there is not an effective Registration
      Statement covering all of the Registrable Securities and the Company shall
      determine to prepare and file with the Commission a registration statement
      relating to an offering for its own account or the account of others under
      the
      Securities Act of any of its equity securities, other than on Form S-4 or Form
      S-8 (each as promulgated under the Securities Act) or their then equivalents
      relating to equity securities to be issued solely in connection with any
      acquisition of any entity or business or equity securities issuable in
      connection with stock option or other employee benefit plans, then the Company
      shall send to each Holder written notice of such determination and, if within
      fifteen calendar days after receipt of such notice, any such Holder shall so
      request in writing, the Company shall include in such registration statement
      all
      or any part of such Registrable Securities not theretofor registered such holder
      requests to be registered, subject to customary underwriter cutbacks applicable
      to holders of registration rights.

     

    (f) Amendments
      and Waivers.
      The
      provisions of this Agreement, including the provisions of this Section 6(f),
      may
      not be amended, modified or supplemented, and waivers or consents to departures
      from the provisions hereof may not be given, unless the same shall be in writing
      and signed by the Company and the Holders of no less than two-thirds in interest
      of the then outstanding Registrable Securities. 

     

    (g) Notices.
      Any and
      all notices or other communications or deliveries required or permitted to
      be
      provided hereunder shall be in writing and shall be deemed given and effective
      on the earliest of (a) the date of transmission, if such notice or communication
      is delivered via facsimile (provided the sender receives a machine-generated
      confirmation of successful transmission) at the facsimile number specified
      in
      this Section prior to 6:30 p.m. (New York City time) on a Trading Day, (b)
      the
      next Trading Day after the date of transmission, if such notice or communication
      is delivered via facsimile at the facsimile number specified in this Section
      on
      a day that is not a Trading Day or later than 6:30 p.m. (New York City time)
      on
      any Trading Day, (c) the Trading Day following the date of mailing, if sent
      by
      U.S. nationally recognized overnight courier service, or (d) upon actual receipt
      by the party to whom such notice is required to be given. The address for such
      notices and communications shall be as follows:

     

    
      	 	
              If to the Company:

            	
              Sino
                Gas International Holdings, Inc.

            
	 	 	
              The
                Farmhouse

            
	 	 	
              558
                Lime Rock Road

            
	 	 	
              Lime
                Rock, Connecticut 06039

            
	 	 	
              Attention:
                President

            

    

     

    
      
        
        

      

      
        14

        
          

        

      

      
        
        

      

    

     

    
      	 	
              With a copy to:

            	
              Guzov
                Ofsink, LLC

            
	 	 	
              600
                Madison Avenue, 14th Floor

            
	 	 	
              New
                York, New York 10022

            
	 	 	
              Facsimile:
                (212) 688-7273

            
	 	 	
              Attn.:
                Darren L. Ofsink, Esq.

            
	 	 	 
	 	
              If
                to a Investor: 

            	
              To
                the address set forth under such Investor's name on the signature
                pages
                hereto.

            
	 	 	 
	 	
              If
                to any other Person who is then the registered Holder:

            
	 	 	 
	 	 	
              To
                the address of such Holder as it appears in the stock transfer books
                of
                the Company

            

    

     

    or
      such
      other address as may be designated in writing hereafter, in the same manner,
      by
      such Person.

     

    (h) Successors
      and Assigns.
      This
      Agreement shall inure to the benefit of and be binding upon the successors
      and
      permitted assigns of each of the parties and shall inure to the benefit of
      each
      Holder. The Company may not assign its rights or obligations hereunder without
      the prior written consent of each Holder. Each Holder may assign their
      respective rights hereunder in the manner and to the Persons as permitted under
      the Purchase Agreement.

     

    (i) Execution
      and Counterparts.
      This
      Agreement may be executed in any number of counterparts, each of which when
      so
      executed shall be deemed to be an original and, all of which taken together
      shall constitute one and the same Agreement. In the event that any signature
      is
      delivered by facsimile transmission, such signature shall create a valid binding
      obligation of the party executing (or on whose behalf such signature is
      executed) the same with the same force and effect as if such facsimile signature
      were the original thereof.

     

    (j) Governing
      Law.
      All
      questions concerning the construction, validity, enforcement and interpretation
      of this Agreement shall be governed by and construed and enforced in accordance
      with the internal laws of the State of New York, without regard to the
      principles of conflicts of law thereof. Each party agrees that all Proceedings
      concerning the interpretations, enforcement and defense of the transactions
      contemplated by this Agreement (whether brought against a party hereto or its
      respective Affiliates, employees or agents) will be commenced in the New York
      Courts. Each party hereto hereby irrevocably submits to the exclusive
      jurisdiction of the New York Courts for the adjudication of any dispute
      hereunder or in connection herewith or with any transaction contemplated hereby
      or discussed herein, and hereby irrevocably waives, and agrees not to assert
      in
      any Proceeding, any claim that it is not personally subject to the jurisdiction
      of any New York Court, or that such Proceeding has been commenced in an improper
      or inconvenient forum. Each party hereto hereby irrevocably waives personal
      service of process and consents to process being served in any such Proceeding
      by mailing a copy thereof via registered or certified mail or overnight delivery
      (with evidence of delivery) to such party at the address in effect for notices
      to it under this Agreement and agrees that such service shall constitute good
      and sufficient service of process and notice thereof. Nothing contained herein
      shall be deemed to limit in any way any right to serve process in any manner
      permitted by law. Each party hereto hereby irrevocably waives, to the fullest
      extent permitted by applicable law, any and all right to trial by jury in any
      Proceeding arising out of or relating to this Agreement or the transactions
      contemplated hereby. If either party shall commence a Proceeding to enforce
      any
      provisions of this Agreement, then the prevailing party in such Proceeding
      shall
      be reimbursed by the other party for its attorney’s fees and other costs and
      expenses incurred with the investigation, preparation and prosecution of such
      Proceeding.

     

    
      
        
        

      

      
        15

        
          

        

      

      
        
        

      

    

     

    (k) Cumulative
      Remedies.
      The
      remedies provided herein are cumulative and not exclusive of any remedies
      provided by law.

     

    (l) Severability.
      If any
      term, provision, covenant or restriction of this Agreement is held by a court
      of
      competent jurisdiction to be invalid, illegal, void or unenforceable, the
      remainder of the terms, provisions, covenants and restrictions set forth herein
      shall remain in full force and effect and shall in no way be affected, impaired
      or invalidated, and the parties hereto shall use their reasonable efforts to
      find and employ an alternative means to achieve the same or substantially the
      same result as that contemplated by such term, provision, covenant or
      restriction. It is hereby stipulated and declared to be the intention of the
      parties that they would have executed the remaining terms, provisions, covenants
      and restrictions without including any of such that may be hereafter declared
      invalid, illegal, void or unenforceable.

     

    (m) Headings.
      The
      headings in this Agreement are for convenience of reference only and shall
      not
      limit or otherwise affect the meaning hereof.

     

    (n) Independent
      Nature of Investors' Obligations and Rights.
      The
      obligations of each Investor under this Agreement are several and not joint
      with
      the obligations of each other Investor, and no Investor shall be responsible
      in
      any way for the performance of the obligations of any other Investor under
      this
      Agreement. Nothing contained herein or in any Transaction Document, and no
      action taken by any Investor pursuant thereto, shall be deemed to constitute
      the
      Investors as a partnership, an association, a joint venture or any other kind
      of
      entity, or create a presumption that the Investors are in any way acting in
      concert or as a group with respect to such obligations or the transactions
      contemplated by this Agreement or any other Transaction Document. Each Investor
      acknowledges that no other Investor will be acting as agent of such Investor
      in
      enforcing its rights under this Agreement. Each Investor shall be entitled
      to
      independently protect and enforce its rights, including without limitation
      the
      rights arising out of this Agreement, and it shall not be necessary for any
      other Investor to be joined as an additional party in any Proceeding for such
      purpose. The Company acknowledges that each of the Investors has been provided
      with the same Registration Rights Agreement for the purpose of closing a
      transaction with multiple Investors and not because it was required or requested
      to do so by any Investor.

     

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    IN
      WITNESS WHEREOF, the parties have executed this Registration Rights Agreement
      as
      of the date first written above.

     

    
      	 	
              SINO
                GAS INTERNATIONAL HOLDINGS, INC.

            	 
	 	 	 	 
	 	
              By:

            	/s/
              Chen Fang	 
	 	 	
              Name:
                Chen Fang

            	 
	 	 	
              Title:
                Chief Financial Officer

            	 

    

     

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    IN
      WITNESS WHEREOF, the parties have executed this Registration Rights Agreement
      as
      of the date first written above.

    

    
      	 	
              NAME
                OF INVESTING ENTITY

            	 
	 	 	 
	 	
              
                SEI
                  Private Trust Co FAO The JM Smucker Co Investor Trust
                  

                

              

            	 
	 	 	 	 
	 	
              By:

            	
              /s/
                Zach Easton

            	 
	 	 	
              Name:
                Zach
                Easton

            	 
	 	 	
              Title:

            	 
	 	 	 	 
	 	
              ADDRESS
                FOR NOTICE

            	 
	 	 	 	 
	 	
              c/o:
                

            	 	 
	 	 	 	 
	 	
              Street:
                

            	 	 
	 	 	 	 
	 	
              City/State/Zip:
                

            	 	 
	 	 	 	 
	 	
              Attention:
                

            	 	 
	 	 	 	 
	 	
              Tel:

            	 	 
	 	 	 	 
	 	
              Fax:

            	 	 
	 	 	 	 
	 	
              Email:

            	 	 

    

    

    
      
        
        

      

      
        18

        
          

        

      

      
        
        

      

    

    
       

      IN
        WITNESS WHEREOF, the parties have executed this Registration Rights Agreement
        as
        of the date first written above.

      

      
        	 	
                NAME
                  OF INVESTING ENTITY

              	 
	 	 	 
	 	
                
                  
                    Ancora
                      Greater China Fund, LP 

                      

                    

                  

                

              	 
	 	 	 	 
	 	
                By:

              	
                /s/
                  John
                  P. Micklitsch

              	 
	 	 	
                Name:
                  John
                  P. Micklitsch

              	 
	 	 	
                Title:
                  VP

              	 
	 	 	 	 
	 	
                ADDRESS
                  FOR NOTICE

              	 
	 	 	 	 
	 	
                c/o:
                  

              	 	 
	 	 	 	 
	 	
                Street:
                  

              	 	 
	 	 	 	 
	 	
                City/State/Zip:
                  

              	 	 
	 	 	 	 
	 	
                Attention:
                  

              	 	 
	 	 	 	 
	 	
                Tel:

              	 	 
	 	 	 	 
	 	
                Fax:

              	 	 
	 	 	 	 
	 	
                Email:

              	 	 

      

      

      
        
          
          

        

        
          19

          
            

          

        

        
          
          

        

      

       

         

        IN
          WITNESS WHEREOF, the parties have executed this Registration Rights Agreement
          as
          of the date first written above.

        

        
          	 	
                  NAME
                    OF INVESTING ENTITY

                	 
	 	 	 
	 	
                  
                    
                      Jayhawk
                        Private Equity Co-Invest Fund, L.P.

                      

                    

                  

                	 
	 	 	 	 
	 	
                  By:

                	
                  /s/
                    Michael
                    D. Schmitz

                	 
	 	 	
                  Name:
                    Michael
                    D. Schmitz

                	 
	 	 	
                  Title:
                    CFO

                	 
	 	 	 	 
	 	
                  ADDRESS
                    FOR NOTICE

                	 
	 	 	 	 
	 	
                  c/o:
                    

                	 	 
	 	 	 	 
	 	
                  Street:
                    

                	 	 
	 	 	 	 
	 	
                  City/State/Zip:
                    

                	 	 
	 	 	 	 
	 	
                  Attention:
                    

                	 	 
	 	 	 	 
	 	
                  Tel:

                	 	 
	 	 	 	 
	 	
                  Fax:

                	 	 
	 	 	 	 
	 	
                  Email:

                	 	 

        

        

        
          
            
            

          

          
            20

            
              

            

          

          
            
            

          

        

         

      

    

    
      IN
        WITNESS WHEREOF, the parties have executed this Registration Rights Agreement
        as
        of the date first written above.

      

      
        	 	
                NAME
                  OF INVESTING ENTITY

              	 
	 	 	 
	 	
                
                  
                    Jayhawk
                      Private Equity Fund, L.P.

                    

                  

                

              	 
	 	 	 	 
	 	
                By:

              	
                /s/
                  Michael
                  D. Schmitz

              	 
	 	 	
                Name:
                  Michael
                  D. Schmitz

              	 
	 	 	
                Title:

              	 
	 	 	 	 
	 	
                ADDRESS
                  FOR NOTICE

              	 
	 	 	 	 
	 	
                c/o:
                  

              	 	 
	 	 	 	 
	 	
                Street:
                  

              	 	 
	 	 	 	 
	 	
                City/State/Zip:
                  

              	 	 
	 	 	 	 
	 	
                Attention:
                  

              	 	 
	 	 	 	 
	 	
                Tel:

              	 	 
	 	 	 	 
	 	
                Fax:

              	 	 
	 	 	 	 
	 	
                Email:

              	 	 

      

      

      
        
          
          

        

        
          21

          
            

          

        

        
          
          

        

      

       

    

    
      IN
        WITNESS WHEREOF, the parties have executed this Registration Rights Agreement
        as
        of the date first written above.

      

      
        	 	
                NAME
                  OF INVESTING ENTITY

              	 
	 	 	 
	 	
                
                  
                    Enable
                      Opportunity Partners LP

                    

                  

                

              	 
	 	 	 	 
	 	
                By:

              	
                /s/
                  Brendan
                  O’Neil

              	 
	 	 	
                Name:
                  Brendan
                  O’Neil

              	 
	 	 	
                Title:
                  Principal & Portfolio Manager

              	 
	 	 	 	 
	 	
                ADDRESS
                  FOR NOTICE

              	 
	 	 	 	 
	 	
                c/o:
                  

              	 	 
	 	 	 	 
	 	
                Street:
                  

              	 	 
	 	 	 	 
	 	
                City/State/Zip:
                  

              	 	 
	 	 	 	 
	 	
                Attention:
                  

              	 	 
	 	 	 	 
	 	
                Tel:

              	 	 
	 	 	 	 
	 	
                Fax:

              	 	 
	 	 	 	 
	 	
                Email:

              	 	 

      

      

      
        
          
          

        

        
          22

          
            

          

        

        
          
          

        

      

       

      IN
        WITNESS WHEREOF, the parties have executed this Registration Rights Agreement
        as
        of the date first written above.

      

      
        	 	
                NAME
                  OF INVESTING ENTITY

              	 
	 	 	 
	 	
                
                  
                    Enable
                      Growth Partners LP

                    

                  

                

              	 
	 	 	 	 
	 	
                By:

              	
                /s/
                  Brendan
                  O’Neil

              	 
	 	 	
                Name:
                  Brendan
                  O’Neil

              	 
	 	 	
                Title:
                  Principal & Portfolio Manager

              	 
	 	 	 	 
	 	
                ADDRESS
                  FOR NOTICE

              	 
	 	 	 	 
	 	
                c/o:
                  

              	 	 
	 	 	 	 
	 	
                Street:
                  

              	 	 
	 	 	 	 
	 	
                City/State/Zip:
                  

              	 	 
	 	 	 	 
	 	
                Attention:
                  

              	 	 
	 	 	 	 
	 	
                Tel:

              	 	 
	 	 	 	 
	 	
                Fax:

              	 	 
	 	 	 	 
	 	
                Email:

              	 	 

      

      

      
        
          
          

        

        
          23

          
            

          

        

        
          
          

        

      

       

      IN
        WITNESS WHEREOF, the parties have executed this Registration Rights Agreement
        as
        of the date first written above.

      

      
        	 	
                NAME
                  OF INVESTING ENTITY

              	 
	 	 	 
	 	
                
                  
                    Pierce
                      Diversified Strategy Master Fund LLC

                    

                  

                

              	 
	 	 	 	 
	 	
                By:

              	
                /s/
                  Brendan
                  O’Neil

              	 
	 	 	
                Name:
                  Brendan
                  O’Neil

              	 
	 	 	
                Title:
                  

              	 
	 	 	 	 
	 	
                ADDRESS
                  FOR NOTICE

              	 
	 	 	 	 
	 	
                c/o:
                  

              	 	 
	 	 	 	 
	 	
                Street:
                  

              	 	 
	 	 	 	 
	 	
                City/State/Zip:
                  

              	 	 
	 	 	 	 
	 	
                Attention:
                  

              	 	 
	 	 	 	 
	 	
                Tel:

              	 	 
	 	 	 	 
	 	
                Fax:

              	 	 
	 	 	 	 
	 	
                Email:

              	 	 

      

      

      
        
          
          

        

        
          24

          
            

          

        

        
          
          

        

      

       

      IN
        WITNESS WHEREOF, the parties have executed this Registration Rights Agreement
        as
        of the date first written above.

      

      
        	 	
                NAME
                  OF INVESTING ENTITY

              	 
	 	 	 
	 	
                
                  
                    Heller
                      Capital Investments, LLC

                    

                  

                

              	 
	 	 	 	 
	 	
                By:

              	
                /s/
                  Ronald
                  J. Heller

              	 
	 	 	
                Name:
                  Ronald
                  J. Heller

              	 
	 	 	
                Title:
                  CEO

              	 
	 	 	 	 
	 	
                ADDRESS
                  FOR NOTICE

              	 
	 	 	 	 
	 	
                c/o:
                  

              	 	 
	 	 	 	 
	 	
                Street:
                  

              	 	 
	 	 	 	 
	 	
                City/State/Zip:
                  

              	 	 
	 	 	 	 
	 	
                Attention:
                  

              	 	 
	 	 	 	 
	 	
                Tel:

              	 	 
	 	 	 	 
	 	
                Fax:

              	 	 
	 	 	 	 
	 	
                Email:

              	 	 

      

      

      
        
          
          

        

        
          25

          
            

          

        

        
          
          

        

      

       

      IN
        WITNESS WHEREOF, the parties have executed this Registration Rights Agreement
        as
        of the date first written above.

      

      
        	 	
                NAME
                  OF INVESTING ENTITY

              	 
	 	 	 
	 	
                
                  
                    CGM
                      as c/f Ronald I. Heller IRA

                    

                  

                

              	 
	 	 	 	 
	 	
                By:

              	
                /s/
                  Ronald
                  J. Heller

              	 
	 	 	
                Name:
                  Ronald
                  J. Heller

              	 
	 	 	
                Title:

              	 
	 	 	 	 
	 	
                ADDRESS
                  FOR NOTICE

              	 
	 	 	 	 
	 	
                c/o:
                  

              	 	 
	 	 	 	 
	 	
                Street:
                  

              	 	 
	 	 	 	 
	 	
                City/State/Zip:
                  

              	 	 
	 	 	 	 
	 	
                Attention:
                  

              	 	 
	 	 	 	 
	 	
                Tel:

              	 	 
	 	 	 	 
	 	
                Fax:

              	 	 
	 	 	 	 
	 	
                Email:

              	 	 

      

      

      
        
          
          

        

        
          26

          
            

          

        

        
          
          

        

      

       

      IN
        WITNESS WHEREOF, the parties have executed this Registration Rights Agreement
        as
        of the date first written above.

      

      
        	 	
                NAME
                  OF INVESTING ENTITY

              	 
	 	 	 
	 	
                
                  
                    Whitebox
                      Intermarket Partners, LP

                    

                  

                

              	 
	 	 	 	 
	 	
                By:

              	
                /s/
                  Jonathan
                  Wood

              	 
	 	 	
                Name:
                  Jonathan
                  Wood

              	 
	 	 	
                Title:
                  Director / CEO

              	 
	 	 	 	 
	 	
                ADDRESS
                  FOR NOTICE

              	 
	 	 	 	 
	 	
                c/o:
                  

              	 	 
	 	 	 	 
	 	
                Street:
                  

              	 	 
	 	 	 	 
	 	
                City/State/Zip:
                  

              	 	 
	 	 	 	 
	 	
                Attention:
                  

              	 	 
	 	 	 	 
	 	
                Tel:

              	 	 
	 	 	 	 
	 	
                Fax:

              	 	 
	 	 	 	 
	 	
                Email:

              	 	 

      

      

      
        
          
          

        

        
          27

          
            

          

        

        
          
          

        

         

      

      IN
        WITNESS WHEREOF, the parties have executed this Registration Rights Agreement
        as
        of the date first written above.

      

      
        	 	
                NAME
                  OF INVESTING ENTITY

              	 
	 	 	 
	 	
                
                  
                    Midsouth
                      Investor Fund LP
                      

                    

                  

                

              	 
	 	 	 	 
	 	
                By:

              	
                /s/
                  Lyman
                  Heidtke

              	 
	 	 	
                Name:
                  Lyman
                  Heidtke

              	 
	 	 	
                Title:
                  G.P.

              	 
	 	 	 	 
	 	
                ADDRESS
                  FOR NOTICE

              	 
	 	 	 	 
	 	
                c/o:
                  

              	 	 
	 	 	 	 
	 	
                Street:
                  

              	 	 
	 	 	 	 
	 	
                City/State/Zip:
                  

              	 	 
	 	 	 	 
	 	
                Attention:
                  

              	 	 
	 	 	 	 
	 	
                Tel:

              	 	 
	 	 	 	 
	 	
                Fax:

              	 	 
	 	 	 	 
	 	
                Email:

              	 	 

      

      

      
        
          
          

        

        
          28

          
            

          

        

        
          
          

        

      

       

      IN
        WITNESS WHEREOF, the parties have executed this Registration Rights Agreement
        as
        of the date first written above.

      

      
        	 	
                NAME
                  OF INVESTING ENTITY

              	 
	 	 	 
	 	
                
                  
                    Precept
                      Capital Management

                    

                  

                

              	 
	 	 	 	 
	 	
                By:

              	
                /s/
                  D.
                  Blair Baker

              	 
	 	 	
                Name:
                  D.
                  Blair Baker

              	 
	 	 	
                Title:
                  Man Member, Precept Managment LLC.

              	 
	 	 	 	 
	 	
                ADDRESS
                  FOR NOTICE

              	 
	 	 	 	 
	 	
                c/o:
                  

              	 	 
	 	 	 	 
	 	
                Street:
                  

              	 	 
	 	 	 	 
	 	
                City/State/Zip:
                  

              	 	 
	 	 	 	 
	 	
                Attention:
                  

              	 	 
	 	 	 	 
	 	
                Tel:

              	 	 
	 	 	 	 
	 	
                Fax:

              	 	 
	 	 	 	 
	 	
                Email:

              	 	 

      

      

      
        
          
          

        

        
          29

          
            

          

        

        
          
          

        

      

       

      IN
        WITNESS WHEREOF, the parties have executed this Registration Rights Agreement
        as
        of the date first written above.

      

      
        	 	
                NAME
                  OF INVESTING ENTITY

              	 
	 	 	 
	 	
                
                  
                    Straus
                      Partners LP

                    

                  

                

              	 
	 	 	 	 
	 	
                By:

              	
                /s/
                  Craig
                  Connors

              	 
	 	 	
                Name:
                  Craig
                  Connors

              	 
	 	 	
                Title:
                  CFO

              	 
	 	 	 	 
	 	
                ADDRESS
                  FOR NOTICE

              	 
	 	 	 	 
	 	
                c/o:
                  

              	 	 
	 	 	 	 
	 	
                Street:
                  

              	 	 
	 	 	 	 
	 	
                City/State/Zip:
                  

              	 	 
	 	 	 	 
	 	
                Attention:
                  

              	 	 
	 	 	 	 
	 	
                Tel:

              	 	 
	 	 	 	 
	 	
                Fax:

              	 	 
	 	 	 	 
	 	
                Email:

              	 	 

      

      

      
        
          
          

        

        
          30

          
            

          

        

        
          
          

        

      

       

      IN
        WITNESS WHEREOF, the parties have executed this Registration Rights Agreement
        as
        of the date first written above.

      

      
        	 	
                NAME
                  OF INVESTING ENTITY

              	 
	 	 	 
	 	
                
                  
                    Straus
                      GEPT Partners LP

                    

                  

                

              	 
	 	 	 	 
	 	
                By:

              	
                /s/
                  Craig
                  Connors

              	 
	 	 	
                Name:
                  Craig
                  Connors

              	 
	 	 	
                Title:

              	 
	 	 	 	 
	 	
                ADDRESS
                  FOR NOTICE

              	 
	 	 	 	 
	 	
                c/o:
                  

              	 	 
	 	 	 	 
	 	
                Street:
                  

              	 	 
	 	 	 	 
	 	
                City/State/Zip:
                  

              	 	 
	 	 	 	 
	 	
                Attention:
                  

              	 	 
	 	 	 	 
	 	
                Tel:

              	 	 
	 	 	 	 
	 	
                Fax:

              	 	 
	 	 	 	 
	 	
                Email:

              	 	 

      

      

      
        
          
          

        

        
          31

          
            

          

        

        
          
          

        

      

       

      IN
        WITNESS WHEREOF, the parties have executed this Registration Rights Agreement
        as
        of the date first written above.

      

      
        	 	
                NAME
                  OF INVESTING ENTITY

              	 
	 	 	 
	 	
                
                  
                    T.
                      Rowe Price Small Cap Value Fund, Inc.

                    

                  

                

              	 
	 	 	 	 
	 	
                By:

              	
                /s/
                  Gregory
                  A. McCrickard

              	 
	 	 	
                Name:
                  Gregory
                  A. McCrickard

              	 
	 	 	
                Title:
                  VP

              	 
	 	 	 	 
	 	
                ADDRESS
                  FOR NOTICE

              	 
	 	 	 	 
	 	
                c/o:
                  

              	 	 
	 	 	 	 
	 	
                Street:
                  

              	 	 
	 	 	 	 
	 	
                City/State/Zip:
                  

              	 	 
	 	 	 	 
	 	
                Attention:
                  

              	 	 
	 	 	 	 
	 	
                Tel:

              	 	 
	 	 	 	 
	 	
                Fax:

              	 	 
	 	 	 	 
	 	
                Email:

              	 	 

      

      

      
        
          
          

        

        
          32

          
            

          

        

        
          
          

        

      

       

      IN
        WITNESS WHEREOF, the parties have executed this Registration Rights Agreement
        as
        of the date first written above.

      

      
        	 	
                NAME
                  OF INVESTING ENTITY

              	 
	 	 	 
	 	
                
                  
                    Vision
                      Opportunity Master Fund, Ltd.

                    

                  

                

              	 
	 	 	 	 
	 	
                By:

              	
                
                  Adam
                    Benowitz

                

              	 
	 	 	
                Name:
                  Adam
                  Benowitz

              	 
	 	 	
                Title:

              	 
	 	 	 	 
	 	
                ADDRESS
                  FOR NOTICE

              	 
	 	 	 	 
	 	
                c/o:
                  

              	 	 
	 	 	 	 
	 	
                Street:
                  

              	 	 
	 	 	 	 
	 	
                City/State/Zip:
                  

              	 	 
	 	 	 	 
	 	
                Attention:
                  

              	 	 
	 	 	 	 
	 	
                Tel:

              	 	 
	 	 	 	 
	 	
                Fax:

              	 	 
	 	 	 	 
	 	
                Email:

              	 	 

      

      

      
        
          
          

        

        
          33

          
            

          

        

        
          
          

        

         

Annex
      A

     

    Plan
      of
      Distribution

     

    The
      Selling Stockholders and any of their pledgees, donees, transferees, assignees
      and successors-in-interest may, from time to time, sell any or all of their
      shares of Common Stock on any stock exchange, market or trading facility on
      which the shares are traded or quoted or in private transactions. These sales
      may be at fixed or negotiated prices. The Selling Stockholders may use any
      one
      or more of the following methods when selling shares:

     

    
      	
              ·

            	
              ordinary
                brokerage transactions and transactions in which the broker-dealer
                solicits purchasers;

            

    

     

    
      	
              ·

            	
              block
                trades in which the broker-dealer will attempt to sell the shares
                as agent
                but may position and resell a portion of the block as principal to
                facilitate the transaction;

            

    

     

    
      	
              ·

            	
              purchases
                by a broker-dealer as principal and resale by the broker-dealer for
                its
                account;

            

    

     

    
      	
              ·

            	
              an
                exchange distribution in accordance with the rules of the applicable
                exchange;

            

    

     

    
      	
              ·

            	
              privately
                negotiated transactions;

            

    

     

    
      	
              ·

            	
              to
                cover short sales made after the date that this Registration Statement
                is
                declared effective by the Securities and Exchange Commission;
                

            

    

     

    
      	
              ·

            	
              broker-dealers
                may agree with the Selling Stockholders to sell a specified number
                of such
                shares at a stipulated price per
                share;

            

    

     

    
      	
              ·

            	
              a
                combination of any such methods of sale;
                and

            

    

     

    
      	
              ·

            	
              any
                other method permitted pursuant to applicable
                law.

            

    

     

    The
      Selling Stockholders may also sell shares under Rule 144 under the Securities
      Act, if available, rather than under this prospectus.

     

    Broker-dealers
      engaged by the Selling Stockholders may arrange for other brokers-dealers to
      participate in sales. Broker-dealers may receive commissions or discounts from
      the Selling Stockholders (or, if any broker-dealer acts as agent for the
      purchaser of shares, from the purchaser) in amounts to be negotiated. The
      Selling Stockholders do not expect these commissions and discounts to exceed
      what is customary in the types of transactions involved.

     

    In
      connection with the sale of our common stock or interests therein, the selling
      stockholders may enter into hedging transactions with broker-dealers or other
      financial institutions, which may in turn engage in short sales of the common
      stock in the course of hedging the positions they assume. The selling
      stockholders may also sell shares of our common stock short and deliver these
      securities to close out their short positions, or loan or pledge the common
      stock to broker-dealers that in turn may sell these securities. The selling
      stockholders may also enter into option or other transactions with
      broker-dealers or other financial institutions or the creation of one or more
      derivative securities which require the delivery to such broker-dealer or other
      financial institution of shares offered by this prospectus, which shares such
      broker-dealer or other financial institution may resell pursuant to this
      prospectus (as supplemented or amended to reflect such
      transaction).

     

    
      
        
        

      

      
        34

        
          

        

      

      
        
        

      

    

     

    The
      Selling Stockholders may from time to time pledge or grant a security interest
      in some or all of the Shares owned by them and, if they default in the
      performance of their secured obligations, the pledgees or secured parties may
      offer and sell shares of Common Stock from time to time under this prospectus,
      or under an amendment to this prospectus under Rule 424(b)(3) or other
      applicable provision of the Securities Act of 1933 amending the list of selling
      stockholders to include the pledgee, transferee or other successors in interest
      as selling stockholders under this prospectus.

     

    Upon
      the
      Company being notified in writing by a Selling Stockholder that any material
      arrangement has been entered into with a broker-dealer for the sale of Common
      Stock through a block trade, special offering, exchange distribution or
      secondary distribution or a purchase by a broker or dealer, a supplement to
      this
      prospectus will be filed, if required, pursuant to Rule 424(b) under the
      Securities Act, disclosing (i) the name of each such Selling Stockholder and
      of
      the participating broker-dealer(s), (ii) the number of shares involved, (iii)
      the price at which such the shares of Common Stock were sold, (iv)the
      commissions paid or discounts or concessions allowed to such broker-dealer(s),
      where applicable, (v) that such broker-dealer(s) did not conduct any
      investigation to verify the information set out or incorporated by reference
      in
      this prospectus, and (vi) other facts material to the transaction. In addition,
      upon the Company being notified in writing by a Selling Stockholder that a
      donee
      or pledgee intends to sell more than 500 shares of Common Stock, a supplement
      to
      this prospectus will be filed if then required in accordance with applicable
      securities law.

     

    The
      Selling Stockholders also may transfer the shares of Common Stock in other
      circumstances, in which case the transferees, pledgees or other successors
      in
      interest will be the selling beneficial owners for purposes of this
      prospectus.

     

    The
      Selling Stockholders and any broker-dealers or agents that are involved in
      selling the shares may be deemed to be "underwriters" within the meaning of
      the
      Securities Act in connection with such sales. In such event, any commissions
      received by such broker-dealers or agents and any profit on the resale of the
      shares purchased by them may be deemed to be underwriting commissions or
      discounts under the Securities Act. Discounts, concessions, commissions and
      similar selling expenses, if any, that can be attributed to the sale of Shares
      will be paid by the Selling Stockholder and/or the purchasers. Each Selling
      Stockholder has represented and warranted to the Company that it acquired the
      securities subject to this registration statement in the ordinary course of
      such
      Selling Stockholder’s business and, at the time of its purchase of such
      securities such Selling Stockholder had no agreements or understandings,
      directly or indirectly, with any person to distribute any such securities.
      

     

    
      
        
        

      

      
        35

        
          

        

      

      
        
        

      

    

     

    The
      Company has advised each Selling Stockholder that it may not use shares
      registered on this Registration Statement to cover short sales of Common Stock
      made prior to the date on which this Registration Statement shall have been
      declared effective by the Commission. If a Selling Stockholder uses this
      prospectus for any sale of the Common Stock, it will be subject to the
      prospectus delivery requirements of the Securities Act. The Selling Stockholders
      will be responsible to comply with the applicable provisions of the Securities
      Act and Exchange Act, and the rules and regulations thereunder promulgated,
      including, without limitation, Regulation M, as applicable to such Selling
      Stockholders in connection with resales of their respective shares under this
      Registration Statement.

     

    The
      Company is required to pay all fees and expenses incident to the registration
      of
      the shares, but the Company will not receive any proceeds from the sale of
      the
      Common Stock. The Company has agreed to indemnify the Selling Stockholders
      against certain losses, claims, damages and liabilities, including liabilities
      under the Securities Act. 

     

    
      
        
        

      

      
        36

        
          

        

      

      
        
        

      

    

     

    Annex
      B

     

    SINO
      GAS INTERNATIONAL HOLDINGS, INC.

     

    Selling
      Securityholder Notice and Questionnaire

     

    The
      undersigned beneficial owner of common stock (the “Common
      Stock”),
      of
      Sino Gas International Holdings, Inc., a Utah corporation (the “Company”)
      understands that the Company has filed or intends to file with the Securities
      and Exchange Commission (the “Commission”)
      a
      Registration Statement for the registration and resale of the Registrable
      Securities, in accordance with the terms of the Registration Rights Agreement,
      dated as of September __, 2007 (the “Registration
      Rights Agreement”),
      among
      the Company and the Investors named therein. A copy of the Registration Rights
      Agreement is available from the Company upon request at the address set forth
      below. All capitalized terms used and not otherwise defined herein shall have
      the meanings ascribed thereto in the Registration Rights Agreement.

     

    The
      undersigned hereby provides the following information to the Company and
      represents and warrants that such information is accurate:

     

    QUESTIONNAIRE

     

    
      
        	
                1.

              	
                Name.

              
	 	 	 
	 	
                (a)

              	
                Full
                  Legal Name of Selling Securityholder

              
	 	 	  

	 	 	 
	 	
                (b)

              	
                Full
                  Legal Name of Registered Holder (if not the same as (a) above)
                  through
                  which Registrable Securities Listed in Item 3 below are
                  held:

              
	 	 	  

	 	 	 
	 	
                (c)

                 

              	
                Full
                  Legal Name of Natural Control Person (which means a natural person
                  who
                  directly or indirectly alone or with others has power to vote or
                  dispose
                  of the securities covered by this questionnaire):

              
	 	 	  

	 	 	 
	
                2.
                  Address for Notices to Selling Securityholder:

              
	  

	  

	  

	 	 	 
	Telephone:	  

	
                Fax:

              	 

	 Contact Person:	  

	 	 

      

       

      
        
          
          

        

        
          37

          
            

          

        

        
          
          

        

      

       

      
        	
                3.
                  Beneficial Ownership of Registrable
                  Securities:

              
	 	 	 
	 	 	
                Type
                  and Principal Amount of Registrable Securities beneficially
                  owned:

              
	 	 	  

	 	 	  

	 	 	  

	 	 	 
	
                4.
                  Broker-Dealer Status:

              
	 
	 	
                (a)

              	
                Are
                  you a broker-dealer?

              
	 	 	
                Yes
                  o   No
                  o

              
	 	 	 
	 	
                Note:

              	
                If
                  yes, the Commission’s staff has indicated that you should be identified as
                  an underwriter in the Registration Statement.

              
	 	 	 
	 	
                (b)

              	
                Are
                  you an affiliate of a broker-dealer?

                 

              
	 	 	
                Yes
                  o     No
                  o

              
	 	 	 
	 	
                (c)

              	
                If
                  you are an affiliate of a broker-dealer, do you certify that you
                  bought
                  the Registrable Securities in the ordinary course of business,
                  and at the
                  time of the purchase of the Registrable Securities to be resold,
                  you had
                  no agreements or understandings, directly or indirectly, with any
                  person
                  to distribute the Registrable Securities?

              
	 	 	 
	 	 	
                
                  Yes
                    o     No
                    o

                

              
	 	 	 
	 	
                Note:

              	
                If
                  no, the Commission’s staff has indicated that you should be identified as
                  an underwriter in the Registration Statement.

              
	 	 	 
	
                5.
                  Beneficial Ownership of Other Securities of the Company Owned by
                  the
                  Selling Securityholder.

              
	 
	 	
                Except
                  as set forth below in this Item 5, the undersigned is not the beneficial
                  or registered owner of any securities of the Company other than
                  the
                  Registrable Securities listed above in Item 3.

              
	 	 
	 	 	
                Type
                  and Amount of Other Securities beneficially owned by the Selling
                  Securityholder:

              
	 	 	  

	 	 	  

	 	 	  

	 	 	 

      

       

      
        
          
          

        

        
          38

          
            

          

        

        
          
          

        

      

       

      
        	
                6.
                  Relationships with the Company:

              
	 	 	 
	 	
                Except
                  as set forth below, neither the undersigned nor any of its affiliates,
                  officers, directors or principal equity holders (owners of 5% of
                  more of
                  the equity securities of the undersigned) has held any position
                  or office
                  or has had any other material relationship with the Company (or
                  its
                  predecessors or affiliates) during the past three
                  years.

              
	 	 
	 	
                State
                  any exceptions here:

              
	 	  

	 	  

      

    

     

     

    7.
      The
      Company has advised each Selling Stockholder that it may not use shares
      registered on the Registration Statement to cover short sales of Common Stock
      made prior to the date on which the Registration Statement is declared effective
      by the Commission, in accordance with 1997 Securities and Exchange Commission
      Manual of Publicly Available Telephone Interpretations Section A.65. If a
      Selling Stockholder uses the prospectus for any sale of the Common Stock, it
      will be subject to the prospectus delivery requirements of the Securities Act.
      The Selling Stockholders will be responsible to comply with the applicable
      provisions of the Securities Act and Exchange Act, and the rules and regulations
      thereunder promulgated, including, without limitation, Regulation M, as
      applicable to such Selling Stockholders in connection with resales of their
      respective shares under the Registration Statement.

     

    The
      undersigned agrees to promptly notify the Company of any inaccuracies or changes
      in the information provided herein that may occur subsequent to the date hereof
      and prior to the Effective Date for the Registration Statement.

     

    By
      signing below, the undersigned consents to the disclosure of the information
      contained herein in its answers to Items 1 through 6 and the inclusion of such
      information in the Registration Statement and the related prospectus. The
      undersigned understands that such information will be relied upon by the Company
      in connection with the preparation or amendment of the Registration Statement
      and the related prospectus.

     

    IN
      WITNESS WHEREOF the undersigned, by authority duly given, has caused this Notice
      and Questionnaire to be executed and delivered either in person or by its duly
      authorized agent.

     

    
      	
              Dated:
                

            	  	 	
              Beneficial Owner:
                

            	   	 
	 	 	 	 	 	 

    

    

    
      	 	
              By:

            	  
	 
	 	 	
              Name:

            	 
	 	 	
              Title:

            	 

    

     

    
      
        
        

      

      
        39

        
          

        

      

      
        
        

      

    

     

    PLEASE
      FAX A COPY OF THE COMPLETED AND EXECUTED NOTICE AND QUESTIONNAIRE, AND RETURN
      THE ORIGINAL BY OVERNIGHT MAIL, TO:

     

    [               ]

     

    
      
        
        

      

      
        40Unassociated Document

    MAKE
      GOOD ESCROW AGREEMENT

     

    This
      Make
      Good Escrow Agreement (this “Agreement”), dated as of September 7, 2007, is
      entered into by and among Sino Gas International Holdings, Inc., a Utah
      corporation (the “Company”), each of the parties listed below who are Investors
      in the private offering of securities of the Company under the SPA (as
      hereinafter defined), and Manufacturers and Traders Trust Company (the “Escrow
      Agent”).

     

    WHEREAS,
      each of the Investors are simultaneously entering into a Securities Purchase
      Agreement, dated as of the date hereof (the “SPA”), evidencing their
      participation in the Company’s private offering of securities contemplated under
      the SPA (the “Offering”); 

     

    WHEREAS,
      as an inducement to the Investors to participate in the Offering and as set
      forth in the SPA, the Company has agreed to place the “Escrow Shares” (as
      hereinafter defined) into escrow for the benefit of the Investors in the event
      the Company fails to satisfy the conditions set forth in Section 4.12 of the
      SPA;

     

    WHEREAS,
      pursuant to the requirements of the SPA, the Company and the Investors have
      agreed to establish an escrow on the terms and conditions set forth in this
      Agreement;

     

    WHEREAS,
      the Escrow Agent has agreed to act as escrow agent pursuant to the terms and
      conditions of this Agreement; and

     

    WHEREAS,
      all capitalized terms used but not defined herein shall have the respective
      meanings assigned them in the SPA.

     

    NOW,
      THEREFORE, in consideration of the mutual promises of the parties and the terms
      and conditions hereof, the parties hereby agree as follows:

     

    1. Appointment
      of Escrow Agent.
      The
      Investors and the Company hereby appoint Manufacturers
      and Traders Trust Company as
      Escrow
      Agent to act in accordance with the terms and conditions set forth in this
      Agreement, and Escrow Agent hereby accepts such appointment and agrees to act
      in
      accordance with such terms and conditions.

     

    2. Establishment
      of Escrow.
      Upon the
      execution of this Agreement, the Company shall deliver to the Escrow Agent
      stock
      certificates evidencing in the aggregate 1,500,000 shares (the “Escrow Shares”)
      of the Company’s Common Stock registered in the names of the Investors as set
      forth on Exhibit
      B
      attached
      hereto. 

     

    3. Representations
      of the Company.
      The
      Company hereby represents and warrants to the Investors as follows:

     

    (i) The
      Escrow Shares are duly authorized and validly issued, and if and when
      distributed to the Investors hereunder, will be fully paid and nonassessable
      shares of the Company, and free and clear of all Liens, other than those
      existing pursuant to federal securities laws.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (ii) Except
      as
      set forth in Schedule 3.1 to the Purchase Agreement, the execution, delivery
      and
      performance of this Agreement and other instruments contemplated herein will
      not
      (1) conflict with or violate any provision of the Company’s or any Subsidiary’s
      certificate or articles of incorporation, bylaws or other organizational or
      charter documents, or (2) conflict with, or constitute a default (or an event
      that with notice or lapse of time or both would become a default) under, result
      in the creation of any Lien upon any of the properties or assets of the Company
      or any Subsidiary, or give to others any rights of termination, amendment,
      acceleration or cancellation (with or without notice, lapse of time or both)
      of,
      any agreement, credit facility, debt or other instrument (evidencing a Company
      or Subsidiary debt or otherwise) or other understanding to which the Company
      or
      any Subsidiary is a party or by which any property or asset of the Company
      or
      any Subsidiary is bound or affected, or (3) result in a violation of any law,
      rule, regulation, order, judgment, injunction, decree or other restriction
      of
      any court or governmental authority to which the Company or a Subsidiary is
      subject (including federal and state securities laws and regulations and the
      rules and regulations of any self regulatory organization (including any Trading
      Market) to which the Company or its securities is subject), or by which any
      property or asset of the Company or a Subsidiary is bound or affected and which
      the Escrow Shares may be bound except in the case of each of clauses (1), (2)
      and (3), such as could not, individually or in the aggregate, have or reasonably
      be expected to result in a Material Adverse Effect.

     

    (iii) This
      Agreement constitutes the legal obligation of the Company, enforceable against
      it in accordance with its terms, except as such enforceability may be limited
      by
      applicable bankruptcy, insolvency, reorganization, moratorium, liquidation
      or
      similar laws relating to, or affecting generally the enforcement of, creditors’
rights and remedies or by other equitable principles of general
      application.

     

    4. Disbursement
      of Escrow Shares. (a)
      Not
      later than five business days after the filing of the Company’s Annual Report on
      Form 10-K or Form 10-KSB, as the case may be, for the fiscal year ended December
      31, 2008, the Company shall deliver to the Escrow Agent and all of the Investors
      written notice (the “ATNI Company Notice”) which notice shall (1) set forth the
      2008 Guaranteed ATNI amount and a statement indicating whether the Company
      believes it met or achieved the 2008 Guaranteed ATNI amount, (2) include a
      statement (the “ATNI Statement”) indicating how such amount was calculated and
      (3) include a copy of the report of the Company’s independent registered public
      accounting firm which report shall include an evaluation of the Company’s
      internal control over financial report for the fiscal year ended December 31,
      2008. 

     

    (b) Within
      20
      business days of receipt of the ATNI Company Notice, T. Rowe Price, on behalf
      of
      the Investors, shall submit a written notice (the “Investors’ Notice”) to the
      Escrow Agent and the other Investors indicating whether the Escrow Shares shall
      be either (1) released and returned to the Company or (2) distributed in
      accordance with Exhibit
      B
      attached
      hereto. The Escrow Agent shall immediately forward a copy of such notice to
      the
      Company. If, within 10 business days after receipt of the Investors’ Notice, no
      notice of objection to such Investors’ Notice has been filed by the Company in
      accordance with the provisions of Section 4(c), Escrow Agent shall promptly
      disburse the Escrow Shares in accordance with the instructions contained in
      the
      Investors’ Notice.

    

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    (c) If
      the
      Company objects to the Investors’ instructions contained in the Investors’
Notice, then within 10 business days after receipt of the Investors’ Notice, the
      Company shall submit written notice of such objection to the Escrow Agent and
      each of the Investors. In the event of a Company objection pursuant to this
      Section 4(c), the Escrow Agent shall retain the Escrow Shares and not return
      them to the Company or distribute them to the Investors. The Escrow Agent shall
      retain the Escrow Shares until the question of whether the Escrow Shares shall
      be returned to the Company or distributed to the Investors shall have been
      determined (i) by an agreement in writing executed by the Company and each
      of
      the Investors or (ii) by a final, nonappealable order of a court of competent
      jurisdiction. The Company and the Investors shall deliver to Escrow Agent an
      executed copy of such agreement or a certified copy of such final judgment
      directing the Escrow Agent to return the Escrow Shares to the Company or
      distribute the Escrow Shares to the Investors as specified in such agreement
      or
      final decision, as the case may be, after which the Escrow Agent shall promptly
      return or distribute the Escrow Shares accordingly. 

    

    5. Duration. This
      Agreement shall terminate upon the distribution of all
      the Escrow Shares in accordance with the provisions of Section 4.12 of the
      SPA
      and this Agreement. 

     

    6. Escrow
      Shares. If
      any
      Escrow Shares are deliverable to the Investors pursuant to the SPA and in
      accordance with this Agreement, the Company covenants and agrees to cooperate
      with its transfer agent, and the Company agrees to use its best efforts, to
      aid
      the Escrow Agent in issuing the Escrow Shares pursuant hereto. Until such time
      as the Escrow Shares are required to be delivered pursuant to the SPA and in
      accordance with this Agreement, any dividends payable in respect of the Escrow
      Shares and all voting rights applicable to the Escrow Shares shall be retained
      by the Company. Should the Escrow Agent receive dividends or voting materials,
      such items shall not be held by the Escrow Agent, but shall be promptly passed
      on to the Company and shall not be invested or held for any time longer than
      is
      needed to deliver such items to the Company. In the event that the Escrow
      Agent receives a communication requiring the conversion of the Escrow
      Shares to cash or the exchange of the Escrow Shares for that of another entity,
      the Escrow Agent shall solicit and follow the written instructions of the
      Company; provided,
      that
      the cash or exchanged shares are instructed to be redeposited into the Escrow
      Account. The Company shall be responsible for all taxes resulting from any
      such
      conversion or exchange.

     

    7. Interpleader. Should
      any controversy arise among the parties hereto with
      respect to this Agreement or with respect to the right to receive the Escrow
      Shares, Escrow Agent shall have the right to consult counsel and/or to institute
      an appropriate interpleader action to determine the rights of the parties.
      Escrow Agent is also hereby authorized to institute an appropriate interpleader
      action upon receipt of a written letter of direction executed by the parties
      so
      directing Escrow Agent. If Escrow Agent is directed to institute an appropriate
      interpleader action, it shall institute such action not prior to thirty (30)
      days after receipt of such letter of direction and not later than sixty (60)
      days after such date. Any interpleader action instituted in accordance with
      this
      Section 7 shall be filed in any court of competent jurisdiction in the State
      of
      New York, and the Escrow Shares in dispute shall be deposited with the court
      and
      in such event Escrow Agent shall be relieved of and discharged from any and
      all
      obligations and liabilities under and pursuant to this Agreement with respect
      to
      the Escrow Shares.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    8. Exculpation
      and Indemnification of Escrow Agent. (a)
      Escrow
      Agent is not a party to, and is not bound by or charged with notice of any
      agreement out of which this escrow may arise. Escrow Agent acts under this
      Agreement as a depositary only and is not responsible or liable in any manner
      whatsoever for the sufficiency, correctness, genuineness or validity of the
      subject matter of the escrow, or any part thereof, or for the form or execution
      of any notice given by any other party hereunder, or for the identity or
      authority of any person executing any such notice. Escrow Agent will have no
      duties or responsibilities other than those expressly set forth herein. Escrow
      Agent will be under no liability to anyone by reason of any failure on the
      part
      of any party hereto (other than Escrow Agent) or any maker, endorser or other
      signatory of any document to perform such person’s or entity’s obligations
      hereunder or under any such document. Except for this Agreement and instructions
      to Escrow Agent pursuant to the terms of this Agreement, Escrow Agent will
      not
      be obligated to recognize any agreement between or among any or all of the
      persons or entities referred to herein, notwithstanding its knowledge
      thereof.

     

    (b) Escrow
      Agent will not be liable for any action taken or omitted by it, or any action
      suffered by it to be taken or omitted, in good faith and in the exercise of
      its
      own best judgment, and may rely conclusively on, and will be protected in acting
      upon, any order, notice, demand, certificate, or opinion or advice of counsel
      (including counsel chosen by Escrow Agent), statement, instrument, report or
      other paper or document (not only as to its due execution and the validity
      and
      effectiveness of its provisions, but also as to the truth and acceptability
      of
      any information therein contained) which is reasonably believed by Escrow Agent
      to be genuine and to be signed or presented by the proper person or persons.
      The
      duties and responsibilities of the Escrow Agent hereunder shall be determined
      solely by the express provisions of this Agreement and no other or further
      duties or responsibilities shall be implied, including, but not limited to,
      any
      obligation under or imposed by any laws of the State of New York upon
      fiduciaries.

     

    (c) Escrow
      Agent will be indemnified and held harmless by the Company from and against
      any
      expenses, including reasonable attorneys’ fees and disbursements, damages or
      losses suffered by Escrow Agent in connection with any claim or demand, which,
      in any way, directly or indirectly, arises out of or relates to this Agreement
      or the services of Escrow Agent hereunder; except, that if Escrow Agent is
      guilty of willful misconduct, fraud or gross negligence under this Agreement,
      then Escrow Agent will bear all losses, damages and expenses arising as a result
      of such willful misconduct, fraud or gross negligence except for consequential
      damages. Promptly after the receipt by Escrow Agent of notice of any such demand
      or claim or the commencement of any action, suit or proceeding relating to
      such
      demand or claim, Escrow Agent will notify the other parties hereto in writing.
      For the purposes hereof, the terms “expense” and “loss” will include all amounts
      paid or payable to satisfy any such claim or demand, or in settlement of any
      such claim, demand, action, suit or proceeding settled with the express written
      consent of the parties hereto, and all costs and expenses, including, but not
      limited to, reasonable attorneys’ fees and disbursements, paid or incurred in
      investigating or defending against any such claim, demand, action, suit or
      proceeding. The provisions of this Section 8 shall survive the termination
      of
      this Agreement.

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    9. Compensation
      of Escrow Agent. The
      Company will pay Escrow Agent in accordance with
Exhibit
      A
      attached
      hereto for all services rendered by Escrow Agent hereunder.

     

    10. Resignation
      and Discharge of Escrow Agent. At
      any time, upon ten (10) days’ prior written notice to the
      Company and the Investors, Escrow Agent may resign from its duties as Escrow
      Agent hereunder. At any time, upon ten (10) days’ prior written notice to the
      Escrow Agent, the Company and the Investors holding two-thirds (66 2/3%) of
      the
      Shares may discharge the Escrow Agent from its duties as Escrow Agent hereunder.
      As soon as practicable after its resignation or discharge, Escrow Agent will
      promptly turn over to a successor escrow agent appointed jointly by the Company
      and the Investors the Escrow Shares held hereunder upon presentation of a
      document appointing the new escrow agent and evidencing its acceptance thereof.
      If, by the end of the 10-day period following the giving of notice of
      resignation by Escrow Agent the Company and the Investors shall have failed
      to
      appoint a successor escrow agent, then (a) Escrow
      Agent’s sole responsibility after that time shall be to retain and safeguard the
      Escrow Shares until receipt of a designation of successor Escrow Agent or joint
      written instructions by the Company and the Investors or a final, nonappealable
      order of a court of competent jurisdiction and (b) Escrow
      Agent may interplead the Escrow Shares into the registry of any court having
      jurisdiction.

     

    11. Records. Escrow
      Agent shall maintain accurate records of all
      transactions hereunder. Promptly after the termination of this Agreement or
      as
      may reasonably be requested by the parties hereto from time to time before
      such
      termination, Escrow Agent shall provide the parties hereto, as the case may
      be,
      with a complete copy of such records, certified by Escrow Agent to be a complete
      and accurate account of all such transactions. The authorized representatives
      of
      each of the parties hereto shall have access to such books and records at all
      reasonable times during normal business hours upon reasonable notice to Escrow
      Agent. 

     

    12. Notice. All
      notices, communications and instructions required or desired to be given under
      this Agreement must be in writing and shall be deemed to be duly given if sent
      by either (i) (A) U.S. first class, registered or certified mail, return receipt
      requested or (B) overnight courier, to the address listed on the signature
      pages
      hereto or (ii) by facsimile at the facsimile number specified on the signature
      pages hereto.

     

    13. Execution
      in Counterparts. This
      Agreement may be executed in counterparts, each of
      which shall be deemed an original, but all of which together shall constitute
      one and the same instrument.

     

    14. Assignment
      and Modification. This
      Agreement and the rights and obligations hereunder of
      any of the parties hereto may not be assigned without the prior written consent
      of the other parties hereto, except that the parties hereby agree that the
      Company’s obligation to transfer Escrow Shares to Investors pursuant to this
      Agreement shall continue to run to the benefit of an Investor who shall have
      transferred or sold all or any portion of its Shares, and that Investors shall
      have the right to assign its rights to receive all or any such Escrow Shares
      to
      other Persons in conjunction with negotiated sales or transfers of any of its
      Escrow Shares. Subject to the foregoing, this Agreement will be binding upon
      and
      inure to the benefit of each of the parties hereto and their respective
      successors and permitted assigns and no other Person will acquire or have any
      rights under, or by virtue of, this Agreement. No portion of the Escrow Shares
      shall be subject to interference or control by any creditor of any party hereto,
      or be subject to being taken or reached by any legal or equitable process in
      satisfaction of any debt or other liability of any such party hereto prior
      to
      the disbursement thereof to such party hereto in accordance with the provisions
      of this Agreement. No provision of this Agreement may be waived or amended
      except in a written instrument signed by the Escrow Agent, the Company and
      the
      Investors holding at least two-thirds (66 2/3%) of the Shares. No waiver of
      any
      default with respect to any provision, condition or requirement of this
      Agreement shall be deemed to be a continuing waiver in the future or a waiver
      of
      any subsequent default or a waiver of any other provision, condition or
      requirement hereof, nor shall any delay or omission of either party to exercise
      any right hereunder in any manner impair the exercise of any such right.

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    15. Applicable
      Law. This Agreement shall be governed by and
      construed in accordance with the laws of the State of New York without giving
      effect to the principles of conflicts of laws thereof.

     

    16. Headings. The
      headings contained in this Agreement are for convenience
      of reference only and shall not affect the construction of this
      Agreement.

     

    17. Attorneys’
      Fees. If
      any
      action at law or in equity, including an action for declaratory relief, is
      brought to enforce or interpret the provisions of this Agreement, the prevailing
      party shall be entitled to recover reasonable attorneys’ fees from the other
      party (unless such other party is the Escrow Agent), which fees may be set
      by
      the court in the trial of such action or may be enforced in a separate action
      brought for that purpose, and which fees shall be in addition to any other
      relief that may be awarded.

     

    18. Merger
      or Consolidation. Any
      corporation or association into which the Escrow Agent may be converted or
      merged, or with which it may be consolidated, or to which it may sell or
      transfer all or substantially all of its corporate trust business and assets
      as
      a whole or substantially as a whole, or any corporation or association resulting
      from any such conversion, sale, merger, consolidation or transfer to which
      the
      Escrow Agent is a party, shall be and become the successor escrow agent under
      this Agreement and shall have and succeed to the rights, powers, duties,
      immunities and privileges as its predecessor, without the execution or filing
      of
      any instrument or paper or the performance of any further act.

     

    [REMAINDER
      OF PAGE INTENTIONALLY BLANK-

    SIGNATURE
      PAGES TO FOLLOW]

    

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    IN
      WITNESS WHEREOF, the parties have duly executed this Agreement as of the date
      set forth opposite their respective names.

     

    
      	                            
    SINO
              GAS INTERNATIONAL HOLDINGS,
              INC.
	 	 
	 	By:	
              /s/
                Chen Fang

            
	 	 	Name:
              Chen Fang
	 	 	Title:
              Chief Financial Officer
	 	 	 
	 	Address
              for Notice:
	 	
            	 
	 	
              MANUFACTURERS
                AND TRADERS TRUST

              COMPANY

            
	 	 
	 	By:	
              /s/ Ronald Kruppa

            
	 	 	Name:
              Ronald Kruppa
	 	 	Title: Vice
              President
	 	
            	 
	 	Address
              for Notice:

    

     

    [REMAINDER
      OF PAGE INTENTIONALLY BLANK-

    SIGNATURE
      PAGES FOR INVESTORS TO FOLLOW]

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    
      	 	INVESTORS
	
            	
            
	 	
              SEI
                Private Trust Co FAO The JM Smucker Co Investor Trust

            
	 	 	 
	 	By:	
              /s/ Zach Easton

            
	 	 	Name: Zach
              Easton
	 	 	Title:

    

     

    
      	 	Address
              for Notice:	
                

            
	 	 
	 	 
              
	 	 
	 	 
              

    

     

    
      	 	 Facsimile:	
                

            

    

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

    
       

      
        	 	INVESTORS
	
              	
              
	 	
                
                  Ancora
                    Greater China Fund, LP

                

              
	 	 	 
	 	By:	
                /s/ John
                  P. Micklitsch

              
	 	 	Name: John
                P. Micklitsch
	 	 	Title:
                VP

      

       

      
        
          	 	Address
                  for Notice:	
                     

                
	 	 
	 	  

	 	 
	 	 
                  

        

         

        
          	 	 Facsimile:	
                    

                

        

      

      
        
          
          

        

        
          9

          
            

          

        

        
          
          

           

          
            	 	INVESTORS
	
                  	
                  
	 	
                    
                      Jayhawk
                        Private Equity Co-Invest Fund, L.P.

                    

                  
	 	 	 
	 	By:	
                    /s/ Michael
                      D. Schmitz

                  
	 	 	Name: Michael
                    D. Schmitz
	 	 	Title:
                    CFO

          

          
             

            
              
                	 	Address
                        for Notice:	
                          

                      
	 	 
	 	 
                        
	 	 
	 	 
                        

              

               

              
                	 	 Facsimile:	
                          

                      

              

               

            

            
              
              

            

            
              10

              
                

              

            

            
              
              

               

              
                	 	INVESTORS
	
                      	
                      
	 	
                        
                          Jayhawk
                            Private Equity Fund, L.P.

                        

                      
	 	 	 
	 	By:	
                        /s/ Michael
                          D. Schmitz

                      
	 	 	Name: Michael
                        D. Schmitz
	 	 	Title:

              

               

              
                
                  	 	Address
                          for Notice:	
                            

                        
	 	 
	 	 
                          
	 	 
	 	 
                          

                

                 

                
                  	 	 Facsimile:	
                            

                        

                

              

               

              
                
                  
                  

                

                
                  11

                  
                    

                  

                

                
                  
                  

                   

                  
                    	 	INVESTORS
	
                          	
                          
	 	
                            
                              Enable
                                Opportunity Partners LP

                            

                          
	 	 	 
	 	By:	
                            /s/ Brendan
                              O’Neil

                          
	 	 	Name: Brendan
                            O’Neil
	 	 	Title:
                            Principal & Portfolio Manager

                  

                  
                     

                    
                      
                        	 	Address
                                for Notice:	
                                  

                              
	 	 
	 	 
                                
	 	 
	 	 
                                

                      

                       

                      
                        	 	 Facsimile:	
                                  

                              

                      

                    

                     

                    
                      
                      

                    

                    
                      12

                      
                        

                      

                    

                    
                      
                      

                      
                         

                        
                          	 	INVESTORS
	
                                	
                                
	 	
                                  
                                    
                                      Enable
                                        Growth Partners LP

                                    

                                  

                                
	 	 	 
	 	By:	
                                  /s/ Brendan
                                    O’Neil

                                
	 	 	Name: Brendan
                                  O’Neil
	 	 	Title:
                                  Principal & Portfolio Manager

                        

                        
                           

                          
                            
                              	 	Address
                                      for Notice:	
                                        

                                    
	 	 
	 	 
                                      
	 	 
	 	 
                                      

                            

                             

                            
                              	 	 Facsimile:	
                                        

                                    

                            

                          

                           

                          
                            
                            

                          

                          
                            13

                            
                              

                            

                          

                          
                            
                            

                          

                        

                      

                       

                      
                        	 	INVESTORS
	
                              	
                              
	 	
                                
                                  Pierce
                                    Diversified Strategy Master Fund LLC

                                

                              
	 	 	 
	 	By:	
                                /s/ Brendan
                                  O’Neil

                              
	 	 	Name: Brendan
                                O’Neil
	 	 	Title:

                      

                      
                         

                        
                          
                            	 	Address
                                    for Notice:	
                                      

                                  
	 	 
	 	 
                                    
	 	 
	 	 
                                    

                          

                           

                          
                            	 	 Facsimile:	
                                      

                                  

                          

                        

                         

                        
                          
                          

                        

                        
                          14

                          
                            

                          

                        

                        
                          
                          

                           

                          
                            	 	INVESTORS
	
                                  	
                                  
	 	
                                    
                                      Heller
                                        Capital Investments, LLC

                                    

                                  
	 	 	 
	 	By:	
                                    /s/ Ronald
                                      J. Heller

                                  
	 	 	Name: Ronald
                                    J. Heller
	 	 	Title:
                                    CEO

                          

                          
                             

                            
                              
                                	 	Address
                                        for Notice:	
                                          

                                      
	 	 
	 	 
                                        
	 	 
	 	 
                                        

                              

                               

                              
                                	 	 Facsimile:	
                                          

                                      

                              

                            

                             

                            
                              
                              

                            

                            
                              15

                              
                                

                              

                            

                            
                              
                              

                               

                              
                                	 	INVESTORS
	
                                      	
                                      
	 	
                                        
                                          CGM
                                            as c/f Ronald I. Heller IRA

                                        

                                      
	 	 	 
	 	By:	
                                        /s/ Ronald
                                          J. Heller

                                      
	 	 	Name: Ronald
                                        J. Heller
	 	 	Title:

                              

                              
                                 

                                
                                  
                                    	 	Address
                                            for Notice:	
                                              

                                          
	 	 
	 	 
                                            
	 	 
	 	 
                                            

                                  

                                   

                                  
                                    	 	 Facsimile:	
                                              

                                          

                                  

                                

                                 

                                
                                  
                                  

                                

                                
                                  16

                                  
                                    

                                  

                                

                                
                                  
                                  

                                   

                                  
                                    	 	INVESTORS
	
                                          	
                                          
	 	
                                            
                                              Whitebox
                                                Intermarket Partners, LP

                                            

                                          
	 	 	 
	 	By:	
                                            /s/ Jonathan
                                              Wood

                                          
	 	 	Name:
Jonathan
                                            Wood
	 	 	Title:
                                            Director / CEO

                                  

                                  
                                     

                                    
                                      
                                        	 	Address
                                                for Notice:	
                                                  

                                              
	 	 
	 	 
                                                
	 	 
	 	 
                                                

                                      

                                       

                                      
                                        	 	 Facsimile:	
                                                  

                                              

                                      

                                    

                                     

                                    
                                      
                                      

                                    

                                    
                                      17

                                      
                                        

                                      

                                    

                                    
                                      
                                      

                                       

                                      
                                        	 	INVESTORS
	
                                              	
                                              
	 	
                                                Midsouth
                                                  Investor Fund LP

                                              
	 	 	 
	 	By:	
                                                /s/ Lyman
                                                  Heidtke

                                              
	 	 	Name:
Lyman
                                                Heidtke
	 	 	Title:
                                                G.P.

                                      

                                      
                                         

                                        
                                          
                                            	 	Address
                                                    for Notice:	
                                                      

                                                  
	 	 
	 	 
                                                    
	 	 
	 	 
                                                    

                                          

                                           

                                          
                                            	 	 Facsimile:	
                                                      

                                                  

                                          

                                        

                                         

                                        
                                          
                                          

                                        

                                        
                                          18

                                          
                                            

                                          

                                        

                                        
                                          
                                          

                                           

                                          
                                            	 	INVESTORS
	
                                                  	
                                                  
	 	
                                                    
                                                      Precept
                                                        Capital Management

                                                    

                                                  
	 	 	 
	 	By:	
                                                    /s/ D.
                                                      Blair Baker

                                                  
	 	 	Name:
D.
                                                    Blair Baker
	 	 	Title:
                                                    Man Memer, Precept Management
                                                    LLC.

                                          

                                          
                                             

                                            
                                              
                                                	 	Address
                                                        for Notice:	
                                                          

                                                      
	 	 
	 	 
                                                        
	 	 
	 	 
                                                        

                                              

                                               

                                              
                                                	 	 Facsimile:	
                                                          

                                                      

                                              

                                            

                                             

                                            
                                              
                                              

                                            

                                            
                                              19

                                              
                                                

                                              

                                            

                                            
                                              
                                              

                                               

                                              
                                                	 	INVESTORS
	
                                                      	
                                                      
	 	
                                                        
                                                          Straus
                                                            Partners LP

                                                        

                                                      
	 	 	 
	 	By:	
                                                        /s/
Craig
                                                          Connors

                                                      
	 	 	Name:
Craig
                                                        Connors
	 	 	Title:
                                                        CFO

                                              

                                              
                                                 

                                                
                                                  
                                                    	 	Address
                                                            for Notice:	
                                                              

                                                          
	 	 
	 	 
                                                            
	 	 
	 	 
                                                            

                                                  

                                                   

                                                  
                                                    	 	 Facsimile:	
                                                               

                                                          

                                                  

                                                

                                                 

                                                
                                                  
                                                  

                                                

                                                
                                                  20

                                                  
                                                    

                                                  

                                                

                                                
                                                  
                                                  

                                                   

                                                  
                                                    	 	INVESTORS
	
                                                          	
                                                          
	 	
                                                            
                                                              Straus
                                                                GEPT Partners LP

                                                            

                                                          
	 	 	 
	 	By:	
                                                            /s/
Craig
                                                              Connors

                                                          
	 	 	Name:
Craig
                                                            Connors
	 	 	Title:

                                                  

                                                   

                                                  
                                                    
                                                      	 	Address
                                                              for Notice:	
                                                                 

                                                            
	 	 
	 	  

	 	 
	 	 
                                                              

                                                    

                                                     

                                                    
                                                      	 	 Facsimile:	
                                                                

                                                            

                                                    

                                                     

                                                  

                                                  
                                                    
                                                      
                                                      

                                                    

                                                    
                                                      21

                                                      
                                                        

                                                      

                                                    

                                                    
                                                      
                                                      

                                                       

                                                      
                                                        	 	INVESTORS
	
                                                              	
                                                              
	 	
                                                                
                                                                  T.
                                                                    Rowe Price Small
                                                                    Cap Value Fund

                                                                

                                                              
	 	 	 
	 	By:	
                                                                /s/
Gregory
                                                                  A. McCrickard

                                                              
	 	 	Name:
Gregory
                                                                A. McCrickard
	 	 	Title:
                                                                VP

                                                      

                                                      
                                                         

                                                        
                                                          
                                                            	 	Address
                                                                    for Notice:	
                                                                     

                                                                  
	 	 
	 	 
                                                                    
	 	 
	 	 
                                                                    

                                                          

                                                           

                                                          
                                                            	 	 Facsimile:	
                                                                     

                                                                  

                                                          

                                                        

                                                         

                                                        
                                                          
                                                          

                                                        

                                                        
                                                          22

                                                          
                                                            

                                                          

                                                        

                                                        
                                                          
                                                          

                                                           

                                                          
                                                            	 	INVESTORS
	
                                                                  	
                                                                  
	 	
                                                                    
                                                                      Vision
                                                                        Opportunity
                                                                        Master Fund

                                                                    

                                                                  
	 	 	 
	 	By:	
                                                                    /s/
Adam
                                                                      Benowitz

                                                                  
	 	 	Name:
Adam
                                                                    Benowitz
	 	 	Title:

                                                          

                                                          
                                                             

                                                            
                                                              
                                                                	 	Address
                                                                        for Notice:	
                                                                           

                                                                      
	 	 
	 	  

	 	 
	 	  

                                                              

                                                               

                                                              
                                                                	 	 Facsimile:	
                                                                          

                                                                      

                                                              

                                                            

                                                             

                                                            
                                                              
                                                              

                                                            

                                                            
                                                              23

                                                              
                                                                

                                                              

                                                            

                                                            
                                                              
                                                              

                                                            

                                                          

                                                        

                                                      

                                                    

                                                  

                                                

                                              

                                            

                                          

                                        

                                      

                                    

                                  

                                

                              

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

     

    EXHIBIT
      A

     

    Fee
      Schedule

     

    
      
        
        

      

      
        24

        
          

        

      

      
        
        

      

    

     

    EXHIBIT
      B

     

    Schedule
      of Distribution of Escrow Shares, if Necessary

     

    
      	
              Name
                of Investor and Address

            	 	
              Number
                of Make Good Shares

            
	 	 	 
	 	 	 
	 	 	 

    

     

    
      
        
        

      

      
        25

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00129-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00129-of-00352.parquet"}]]