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25.0¢ sino gas & energy holdings limited

My view for the sell off are 1, lost of credibility of the MD...

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WhiteNoise

6,650 Posts.

24/01/16

13:07

Post #: 16858787
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Originally posted by CH4 ↑

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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My view for the sell off are

1, lost of credibility of the MD and Board.

2, massive drop in project gas production by end 2016 from projected 50 to only 25 million cfd. Hence future huge reduction cash flow.

3, statement that SEH are in disputes with Petrochina.

Which ultimately has resulted in this massive drop.

SEH Price at posting: 2.9¢ Sentiment: Sell Disclosure: Not Held
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