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DR Cyam

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14/02/16

11:48

Post #: 17015246
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Originally posted by WhiteNoise ↑

I have no personal problems with the MD

I have major issues about how the company has not been informing the market in my view.

And guess what since I have raised the flow rate concerns for over two years the management still haven't delivered them and in addition hidden non payment from produce gas for over 6 months in my view.

Subsequently we have seen the share price crater from above 24 cents to as low as 2.7 cent when the board of SEH informed the market that they are in dispute with Petrochina and cutting forward predicted gas sales by 50% on top of a price cut for gas of 30%.

Sorry its not no longer called a price reduction the MD word for it is

"its a gas price revisions"

complete political bulldust in my view and any one who tries to hide behind such blatant political speak need to looked at very carefully in my view as its not honest, he should have said

Dam the Chinese have moved the goal post but as the project has a commercial threshold of XXX mcf per day per well the company once into long term production will be very successful.

Oh bugger!

Meanwhile we still wait in my view for the highly paid USD 500,000 pa plus lomg term incentives MD to clarify his 30/11/15 statement on what the commercial threshold is, my view he doesn't know and produce long term decline curves.

Until you have clarity from the company you are just investing on trust and not on the known.

If SEH board actually tell you the owners of SEH what the commercial threshold is and why plus supply details of how many wells were on line per month or week whilst they produced gas for the last year you might then invest with confidence.

Otherwise you might as head down the casino in my view.

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You are right! But this is a casino - actually you get better odds at the Casino - but... we all know that.

SEH Price at posting: 3.6¢ Sentiment: Buy Disclosure: Held
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You are right! But this is a casino - actually you get better...

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