Dear fellow shareholders, I will start by informing you that...

Dear fellow shareholders,
I will start by informing you that Delinvestor has been banned from this forum for over 2 years by the censors for his last posting ,thus denying his future contributions.
AGM was attended by about 45 people and the mood was the most positive in recent years. It became apparent that the actions by Standard Chartered Private Equity Group had caused great angst with their actions. EWC has been and is in discussions with banks to release capital equity from its projects , and I believe the above cause unwanted embarrassment by SCPE unsuccessfully trying to gain a better position. EWC management is currently negotiating for a capital release funding /recourse funding for $100-150mill for Sengkang with an Indonesian bank and $200-250 mill for the Philippines project with a Philippines bank. Note both projects have been given bank capital valuations of $1 billion each .( EWC market cap $600 mill go figure!)
Sengkang. 4 cold boxes , compressors and motors in place ,switchyard complete. Main controlroom under construction. Electrical power towers complete and currently being strung ,supplying gas pipeline nearing completion from designated wells and due for completion early next year. LNG is under contract to be supplied to Indonesia's PLN by July 2015 . Current license for 500,000 tpa ,current plant has a 2mill tpa capacity. Current rates paid by PLN $550-700 per ton LNG ie $11-13 mmptu ,current earning capacity approx. $250mill per each train. Current reserves p50 1.2 tcf is enough to produce 2mtpa for 10-12 years. An upgrade to reserves is very probable but requires a further drill program . License to produce 2mtpa requires the appropriate approval from SKKMigas
Philippines . Tank scaffolding in place and roof construction underway . Powerplant 200mw turbine due on line April '15 second 200mw turbine due 3-4 months later. Steam recovery turbine 15 months later. Power charge rates currently 15c-22c Kwh . Income from 400mw approx. $80 mill pa. Gas for Philippines will initially be sourced from the spot market , with several suppliers already organised /under negotiation. This will continue until the appropriate licenses are granted for the 2mtpa production and export from Sengkang. Each 133000m3 tank contains enough capacity to supply 3000mw of power production annually. Gas processing only profit $50per ton ie supplying gas to on going sources. Total profit at 12c/kwh for the completed 650mw plant including gas sales with a 70% off take is $450mill pa. Dire need for continued energy requirements have the possibility to expand the power generation capacity up to 1950mw.
Abbot Point slow progress with Queensland Govt focusing on the coal facet . The Gilmore gas field looks very promising with suggestions of TCF,s of gas if fracked and little water content. Gilmore mini lng plant nearing completion and tank being constructed . 54,000tpa approx. $14mill pa (?who is buying)
Pel96 and Strike Oil encountered a lot of water saturation continued drilling and analysis current.
Without audience prompting it was stated by Mr Elliot that they will be very happy to do a complete promotion roadshow once the Sengkang and the Philippines are functioning next year.
Cheers Doc