SEH 0.00% 25.0¢ sino gas & energy holdings limited

Listening to the conference call, I don't believe "weeks" is...

  1. CH4
    119 Posts.
    Listening to the conference call, I don't believe "weeks" is likely but happy to be surprised. Money will be paid to SEH it is just a matter of what percentage of total revenue SEH will receive. I think there was an expectation MIE would get 51% and SEH would get 49% until the ODP is approved, however it appears the contract is not overly solid and the SOE is trying to change the percentage. It is a tricky balance for management between being walked over by the SOE and giving the SOE what they want, keeping them "on-side" and make the transition through the CRR and ODP process to approval a little bit "friendly".
    My concern is the SEH management stopping the production at SJB and what the Chinese SOE will withhold in the meantime as a punishment, or whether they'll choose to be difficult.
    I have a feeling this is more the reason for the sell off, as SEH waiting for $5mill is hardly a reason for the market cap to be smashed by 50%+
 
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