I wonder if the market is becoming frustrated at the disparity in the timeframes for Sengkang LNG commencement between EWC's statements and Indonesian Official Press releases.
The MOU with PGN stated startup of 2012 whereas the company ( as late as yesterday is still confident of mid 2010 ).
My 2c worth is there are still final negotiations with BPMIGAS to be resolved with both sides hanging tough ( maybe a price issue ? ). I'm just guessing here as all other parties are very keen for progress ie BKPM,PGN ,Sengkang Provincial Gov.
The mood from the company seems very positive as opposed to a few months ago when there were a few cranky phone conversations as anyone who has called them will remember.
I agree with Mont re the sp but then i can't understand why were not already over a dollar.
There certainly is some strange trading going on given recent developments but i guess we'll find a bottom soon?
regards Shamish
EWC Price at posting:
42.0¢ Sentiment: Buy Disclosure: Held
