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SEH 23.5¢

RBC Capital Markets

  1. MONT

    1,444 Posts.
    1
    Investors wanting to bet on the energy sector, but wary of oil plays, should
    take a look at Sino Gas & Energy Holdings (SEH.AU), says RBC Capital Markets. The
    broker initiates coverage of the China-focused unconventional gas producer at outperform,
    with a A$0.30/share price target. Sino Gas aims to produce natural gas from coal seams
    deep below the Earth's surface in China's central Shanxi province, targeting
    100 million cubic feet/day) by 2017. "The investment story is supported by high gas
    prices not linked to oil volatility and a supportive government policy of gas
    expansion," analyst Andrew Williams says. "The current project commercializes
    only 50% of the 2P reserves base, providing significant potential upside in production
    and reserves."
    He notes that Sino Gas is priced at a 70% discount to London-listed

    peer Green Dragon Gas (GDG.LN) when valued by its 2P--or proven and probable--reserves.
    SEH last traded at A$0.15. ([email protected]; @dwinningWSJ)

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