Withdrawal of offer, page-3

Hi PalmTree and Ilyas,

I think I am in good company when I say that I certainly did not expect EWC to withdraw this offer, given that, in the absence of any project funding being made available very shortly indeed, EWC needs to be able to draw on these proposed $37.5million by mid/end June and a further $37.5million by end December, 2015.

Given that Stewart and Brian are, at the moment, in the Philippines an (overly optimistic??) interpretation may be that the Philippines Development Bank may be close to finalising the loan for the power station and/or that the necessary funds to complete the lng hub are being made available for drawdown very shortly.
The same scenario may also apply to the funds required to bring the lng plant (Sengkang) into commercial operation as well as drilling for further gas in the Sengkang PSC area.