Patersons research note below.,.
Sino Gas & Energy (SEH) has announced another significant increase in 2P reserves with an increase to a gross 877bcf from 327bcf following the release of the updated 2013 Resource Report from RISC, the second major upgrade for 2013. Gross Contingent resources and Prospective resources have also increased by 10% & 64% to 2.5tcf and 5.2tcf respectively due to the extensive drilling and seismic in 2013. This news follows SEH announcing its first gas sales agreement, flow rate results and submission of CRR report and demonstrate the increased commerciality and progressive de-risking of SEH’s projects. Accordingly, we have increased our price target to $0.54ps from $0.45ps to reflect this re-rating and have maintained the BUY rating.
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Patersons research note below.,.Sino Gas & Energy (SEH) has...
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