Hi Umshebi and PalmTree,Just as a point of clarification: in its...

Hi Umshebi and PalmTree,

Just as a point of clarification: in its 2 February 2011 ASX announcement re: HOA with Interoil, EWC states that this agreement provides the framework for a possible expansion to 8mtpa (paragraph 4). This means that a reference to 8mtpa LNG facility does not necessarily mean that EWC is out (especially as Interoil has recently referred to the first phase of the project being a 3.8mtpa LNG facility).

On another note I know that EWC management was, until late in 2012, extremely confident in terms of being successful with its modular LNG trains in Interoil’s Gulf LNG project. Since then, the ‘goal posts’ have been moved and are continually shifting, leaving every company, including the 4 confirmed bidders somewhat guessing how it will work out and what level of involvement (minimum of 22.5% in the gas field up to 50%) the PNG government will want. I understand that the level of PNG government involvement will also depend on the choice of the successful bidder and the choice of an LNG partner.

Most outside experts agree on one thing: if one bid stands out above the others, the Interoil BOD will be able to announce the successful outcome early March 2013 (possibly as early of 4 March 2013).

As far as EWC is concerned, I understand that the best outcome would be for the Japanes/Kogas Consortium being chosen, as they may be favourably disposed to EWC’s modular approach.

Irrespective of what happens with Interoil’s Gulf LNG project, EWC’s most profitable LNG project is Sengkang and progress on this project (such as the recently announced 2D seismic survey) will underpin its financial future.