half yearly report, page-3

Apart from the issue re: actual commissioning dates concerning the various projects (Sengkang LNG, Pagbilao LNG hub and power plant) there seems to be some noteable progress on the finance front.

For the first time, there is a reference to LNG off-take discussions are taking place with PLN. Finalisation of such discussions are a prerequisite to obtaining project debt financing (from an Indonesian bank) for Sengkang lng plant and receiving the last tranche of $75million from SCB and Mizuho Corporate Bank for the Sengkang gas field development.

Financing for the LNG hub also now envisages a domestic bond issue and, in respect of the Pagbilao power plant, EWC expects to be able to draw down funds to be provided by the DBP in the coming months.

In addition EWI has provided a further $25million working capital facility until 1 March 2016. This facility is expected to be converted into a convertible note (ie convertible into shares at 50c/share) on the same conditions as the 2014 EWI $25 million convertible note.