It's a buy, page-5

Em WH I like your posts and find the discussion more than helpful but comparing USA shale with China TGS I think may have some different characteristics and slightly left field even for me.



You need a number of factors to compare wells/declines and I find it helpful to be in the same basin never mind country never mind continent and also geological time, region/local stress strain the impact of India crashing in to China/Mongolia a few million years ago etc. Oh I forgot we might also want to consider well spacing, design, completion, depth, saturation, gas content, porosity, permeability, lithology, moisture etc etc; its not that simple and people should not try to make out it is.



A decline curve does what for you !. For me commerciality is a function of many things and we seem to be focusing on only one part. Commerciality is as much a function of market/price and infrastructure. There are some world class stranded conventional and unconventional assets that will have great decline curves but no mechanism for sales and will never produce.



The biggest challenge for SGE is not a decline curve but operating under local conditions with two different competing SOE’s and steering you way through a regulator process that whilst publicly encourages you will be doing all it can to be obstructive. If you have not been active in China I can understand your lack of appreciation on the finer points of these things but they are the real barriers.



So in the end the investor makes up his mind on the value of the stock and associated risk and does he/she have enough information to evaluate the position. You appear to be lacking some technical data for me my experience and knowledge tells me I am comfortable with what's on offer and am far more concerned with management delivery.