I put the "L" in layman - so I could be completely wrong - but I remember what happened last time when payments were held up in early 2016. we went to 3 cents or thereabouts. could be another handy buying opportunity, as it was then.
"With the anticipated ODP approval, confidential commercial discussions are ongoing with CUCBM regarding the on-going development and partnership terms and other matters relating to the Linxing PSC. The overall objective is to at least maintain Sino Gas’ value in the project. As part of the broader discussions noted above, development phase cost allocation principles, which are required to determine the correct distribution of natural gas proceeds are yet to be finalised, resulting in overdue gas sales accounts receivable at 31 December 2017 of US$7.8 million (US$3.8 million net to Sino Gas), the majority of which was less than 60 days overdue. An additional US$9.8 million (US$4.8 million net to Sino Gas) of accounts receivable became overdue in Q1 2018. SGE is working closely with CUCBM to finalise the cost allocation principles and remains confident that these payments will be made. SGE has received assurances from CUCBM to that effect."
SEH Price at posting:
15.5¢ Sentiment: Hold Disclosure: Held
