TIC and its been this way since day one dealing with CUCBM that's the fun of the PSC !!!. Whilst it may look odd to anyone looking in for China this is very common/the norm and whilst the project has zig zagged about it will get from A to B but I can appreciate at time looks like it has a life of its own.
The main issue is SEH have not been too clever with the content of its announcements under GC and his lack of China management remains a bigger issue to me rather than CUCBM who are actually quiet predictable in their actions/wants.
Looking at the bigger picture the PSC provides a strong framework for the project development in terms of revenue split/payment etc what is a grey area is some of the day to day deliver issues that can cause some delays but I guess similar to main other projects. Its a bit like last time with SJB once we have move on all is forgotten as the asset is rather good.
We may potentially have similar/different issues with SJB but lets wait and see but hopefully we will get some meat on the bones at the AGM
SEH Price at posting:
18.0¢ Sentiment: None Disclosure: Held
