OREANDA-NEWS. August 23, 2012. Shares of Hubei Energy Group Co. Ltd. closed on Thursday at their highest level in more than a year, buoyed by market speculation that the energy producer was planning to enter China’s promising shale gas sector.

Trading of Hubei Energy’s shares on the Shenzhen Stock Exchange was suspended on Wednesday at the company’s request after the Shanghai Securities News reported the same day that Hubei Energy was preparing to develop shale gas, according to an announcement by the Shenzhen bourse.