No direct or other relationship between EWC and InterOil. The Gulf Province can elect to gain 22.5% of the gasfield. This is the same as Oil Search, but Oil Search is in the Highlands Province.
A possible reason for the agreement to sell their (Gulf Province) gas to the EWC proposed LNG plant would be 20% ownership in the LNG plant (free carried).
EWIs developments would obviously provide economic return but cant tell what. EWI could charge an excessive tariff on the power used by the LNG facility but power pricing is fairly tight plus the cost of power isnt significant (compared to the cost of purchasing gas) for an LNG facility.
EWC's lng proposal would be worth a tidy amount (using a lot of assumptions). Just a thought if it ever gets off the ground. Oh and the spike from the 7th of September 2009 was when the agreement was signed.
EWC Price at posting:
27.5¢ Sentiment: LT Buy Disclosure: Held
