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Sino Gas & Energy Has China Gas Development Update

Pubdate:2012-10-29 11:11 Source:lijing Click:

Sino Gas & Energy (ASX: SEH) is in pre-open this morning after the ASX granted the company a trading halt in preparation of details of its gas development activities in China.


Sino Gas has not yet announced any further details, but it is worth noting that the company's recent fully funded seismic program for Linxing West has been brought forward with immediate effect.


This will allow the data acquired to be used for further resource assessment and support the drilling and flow testing results required for a separate Chinese Reserve Report.


Seismic teams have been deployed on Linxing West to commence positioning work and set receiver stations and shot points. A total of 350 kilometres of seismic lines are planned for the program, which the operations team expects to complete in the December 2012 quarter - subject to weather conditions moving into the winter months in China.


A seismic grid of 1 kilometre spacing will be shot on the southern portion of Linxing West surrounding existing wells.


The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Tuesday 30th October.

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