Dear fellow shareholders , just a quick jotting. Expect the announcement of the WASAMBO Walanga 3 well results any day now. Upon release of the analysis by competent persons of the seismic data and the current 4 well drill program and not including future explorative drilling/ wells in other deemed prospects the certified reserves should prove to be enough for a 1mtpa plant for 20 years or 2mtpa /10 years currently. (just an assumption/guess of course) Work progressing well at Sengkang with the slipform tank wall starting to go up etc. Shareprice is a bad joke with a market cap $660 mill for all of EWC. compare that to the estimated cost of $735 mill for just a power plant in Jamaica by SE's private company. Word was a fund out of the UK was actively seeking to borrow stock (in the tens of millions) to short a month back, and may have been related to the 47mill share transfer. The later is speculative ,the first is a definite. According to my sources if correct, I'm disappointed no one mentioned at the AGM Brian Allen was in fine form running through the progress slide show , saying now here is all the cold boxes, compressors, drive motors erected it place that were said to have disappeared etc etc as claimed by a certain journalist only to have magically reappeared. He did use the persons name, I won't, but BA delivered numerous quips along those lines. What he didn't realise was that particular person have discretely attended the AGM and sat I believe at the back, without comment,and exited just as the AGM closed.Very funny talk about humourous incontinency ie you would ---- yourself laughing. Cheers Doc.
EWC Price at posting:
37.5¢ Sentiment: ST Buy Disclosure: Held