the hype is in the pipe, page-24

Earlier this morning Strike Energy (ASX:STX) made another ASX announcement concerning PEL 96 (Southern Cooper Basin Gas project).

AS far as EWC (33% stake holder in this joint venture with STX) is concerned this ASX announcement contained two unambiguously extremely positive items:
1. STX will use the option fee to be paid by Orora to accelerate the PEL 96 work program; and
2. commercial gas production from PEL 96 is expected to commence in 2017.

With some informed hc forum members posting a number of posts which are all in line with positive EWC announcements in the coming months (such eg. 2D seismic survey data analysis, competent person’s report on current drilling results, finalizing finance for 600MW Philippines power station, construction progress on Sengkang lng project and Philippines lng hub), EWC’s current share price of 36 cents does not seem to reflect any of those developments.