(I've been a shareholder since day 1 and I used to contribute a lot in Hotcopper in the past until my account was suspended many years ago because of discussions with another poster).
I am voting YES with my 11.4 million shares.
There are too many better opportunities out there now in my opinion (in other companies) and the risk versus potential reward is just not worth it. If this takeover is rejected the share price will fall sharply.
The absolute maximum likely takeover offer from another entity is around 30c (+20%) and the likely share price regression if Lone Star US/Asia falls over is 12-15c (-50%).
There will never be a dividend paid because it is near impossible to get money out of China. CNEML has no money. PSC land has diminished from around 4000km2 to around 1500km 2 and SEH's ownership has gone from 70% down to around 25% of LXG in 8 years. The land that CUCBM has take back off SEH has been producing gas for years, so it is one rule for foreign interests and another rule for the Chinese guys.
SEH has given me much profit over the 9 years (and a lot of stress). In all reality, my vote wont mean anything in the whole scheme of things. I'm just a little fish swimming in a big school of SEH fish.
Good luck and I believe there is a strong possibility this will go through fairly easy.
SEH Price at posting:
23.5¢ Sentiment: Sell Disclosure: Held
