EWC 4.35% 2.2¢ energy world corporation ltd

Ann: Investor Presentation February 2018, page-4

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  1. 12,497 Posts.
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    Todays update seems to indicate to me that EWC has had enough of Indonesia's BS, who could blame them?

    "We have been progressing a solution for our assets in Indonesia with the appropriate regulatory authorities We have been invited by DG Migas and SKK Migas to submit an extension application for the Sengkang PSC, to extend the field beyond its current expiry in October 2022, and the process has commenced We are discussing with PLN for an offtake agreement for LNG sales, which had been delayed due to regulatory conditions impacting the price for domestic LNG The gas allocation agreement from the Sengkang gas field was signed in 2015 which will ensure the supply of gas to the LNG facilities until 2022, however, as part of the LNG offtake agreement, we are discussing with PLN and SKK Migas the price at which gas from the well head will be sold to the LNG facility Bank funding is potentially available from domestic banks, subject to documentation, and pending the results of the offtake agreement and gas supply pricing The above discussions are ongoing and at various stages of the process.

    I say good on you EWC, stick to your guns, what the Indonesians are trying to do IMHO is just blackmail, it has hurt EWC and may continue to do so?
    But there are certainly more fish in the sea, and Indonesia are running out of choices going forward.
    Stiff Cheddar.
 
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