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diff --git a/libevmasm/PathGasMeter.cpp b/libevmasm/PathGasMeter.cpp
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+/*
+	This file is part of cpp-ethereum.
+
+	cpp-ethereum is free software: you can redistribute it and/or modify
+	it under the terms of the GNU General Public License as published by
+	the Free Software Foundation, either version 3 of the License, or
+	(at your option) any later version.
+
+	cpp-ethereum is distributed in the hope that it will be useful,
+	but WITHOUT ANY WARRANTY; without even the implied warranty of
+	MERCHANTABILITY or FITNESS FOR A PARTICULAR PURPOSE.  See the
+	GNU General Public License for more details.
+
+	You should have received a copy of the GNU General Public License
+	along with cpp-ethereum.  If not, see <http://www.gnu.org/licenses/>.
+*/
+/** @file PathGasMeter.cpp
+ * @author Christian <c@ethdev.com>
+ * @date 2015
+ */
+
+#include "PathGasMeter.h"
+#include <libevmasm/KnownState.h>
+#include <libevmasm/SemanticInformation.h>
+
+using namespace std;
+using namespace dev;
+using namespace dev::eth;
+
+PathGasMeter::PathGasMeter(AssemblyItems const& _items):
+	m_items(_items)
+{
+	for (size_t i = 0; i < m_items.size(); ++i)
+		if (m_items[i].type() == Tag)
+			m_tagPositions[m_items[i].data()] = i;
+}
+
+GasMeter::GasConsumption PathGasMeter::estimateMax(
+	size_t _startIndex,
+	shared_ptr<KnownState> const& _state
+)
+{
+	auto path = unique_ptr<GasPath>(new GasPath());
+	path->index = _startIndex;
+	path->state = _state->copy();
+	m_queue.push_back(move(path));
+
+	GasMeter::GasConsumption gas;
+	while (!m_queue.empty() && !gas.isInfinite)
+		gas = max(gas, handleQueueItem());
+	return gas;
+}
+
+GasMeter::GasConsumption PathGasMeter::handleQueueItem()
+{
+	assertThrow(!m_queue.empty(), OptimizerException, "");
+
+	unique_ptr<GasPath> path = move(m_queue.back());
+	m_queue.pop_back();
+
+	shared_ptr<KnownState> state = path->state;
+	GasMeter meter(state, path->largestMemoryAccess);
+	ExpressionClasses& classes = state->expressionClasses();
+	GasMeter::GasConsumption gas = path->gas;
+	size_t index = path->index;
+
+	if (index >= m_items.size() || (index > 0 && m_items.at(index).type() != Tag))
+		// Invalid jump usually provokes an out-of-gas exception, but we want to give an upper
+		// bound on the gas that is needed without changing the behaviour, so it is fine to
+		// return the current gas value.
+		return gas;
+
+	set<u256> jumpTags;
+	for (; index < m_items.size() && !gas.isInfinite; ++index)
+	{
+		bool branchStops = false;
+		jumpTags.clear();
+		AssemblyItem const& item = m_items.at(index);
+		if (item.type() == Tag || item == AssemblyItem(eth::Instruction::JUMPDEST))
+		{
+			// Do not allow any backwards jump. This is quite restrictive but should work for
+			// the simplest things.
+			if (path->visitedJumpdests.count(index))
+				return GasMeter::GasConsumption::infinite();
+			path->visitedJumpdests.insert(index);
+		}
+		else if (item == AssemblyItem(eth::Instruction::JUMP))
+		{
+			branchStops = true;
+			jumpTags = state->tagsInExpression(state->relativeStackElement(0));
+			if (jumpTags.empty()) // unknown jump destination
+				return GasMeter::GasConsumption::infinite();
+		}
+		else if (item == AssemblyItem(eth::Instruction::JUMPI))
+		{
+			ExpressionClasses::Id condition = state->relativeStackElement(-1);
+			if (classes.knownNonZero(condition) || !classes.knownZero(condition))
+			{
+				jumpTags = state->tagsInExpression(state->relativeStackElement(0));
+				if (jumpTags.empty()) // unknown jump destination
+					return GasMeter::GasConsumption::infinite();
+			}
+			branchStops = classes.knownNonZero(condition);
+		}
+		else if (SemanticInformation::altersControlFlow(item))
+			branchStops = true;
+
+		gas += meter.estimateMax(item);
+
+		for (u256 const& tag: jumpTags)
+		{
+			auto newPath = unique_ptr<GasPath>(new GasPath());
+			newPath->index = m_items.size();
+			if (m_tagPositions.count(tag))
+				newPath->index = m_tagPositions.at(tag);
+			newPath->gas = gas;
+			newPath->largestMemoryAccess = meter.largestMemoryAccess();
+			newPath->state = state->copy();
+			newPath->visitedJumpdests = path->visitedJumpdests;
+			m_queue.push_back(move(newPath));
+		}
+
+		if (branchStops)
+			break;
+	}
+
+	return gas;
+}