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Sino Gas & Energy (SEH) - On The Cusp Of Full-Scale Development

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Sino Gas and Energy (SEH) has provided detail on the proposed development plan for its Ordos Basin gas assets outlining staged development with Phase 1 production of 350-550MMscf/d (60-90mboe/d). This release coincides with the submission of the first Linxing (LX) ODP (Overall Development Plan) to PSC Partner CUCBM. SEH has secured up to US$100m of debt funding with Macquarie which should fund development through to positive cashflow, expected in 2020. The Company also released September Q results. Downstream issues impacted gas offtake nominations from the Sanjiaobei (SJB) Central Gathering Station (CGS), resulting is a 14% QoQ drop in production to 13MMscf/d rate. Cash and debt at 30 September were US$30.5m and US$10.0m respectively.

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