2011

Hi PalmTree and Shamish,

Further to your comments, you might find the following information useful:
1. The 120MW expansion is expected to cost US$150-US$160million. Two banks (Standard Chartered and Mitzuho) have been mandated to arrange a US$200million (re)financing facility. With two banks involved in their own efforts to arrange their part of such a facility, EWC has to await advice from both banks prior to being able to announce such a decision. I expect such a decision by the banks in January 2011. Furthermore, once the contract with Tokyo Gas re: its equity investments in EWCs Indonesian projects (power station, gas field development and LNG project) has been concluded, then Tokyo Gas 25% equity investments including in the operation and expansion of the gas fired power station will also come into play.
2. A realistic timetable for the remaining three major EWC projects (a. binding HOA with Interoil re: PNG LNG project, BPMigas approval of POD re: Sengkang LNG and DoE (Philippines) for LNG Hub) would be around end January, 2011.

In short, the first few months of 2011 could very well be one of the most exciting and rewarding months for EWC shareholders.

Marry Xmas and a happy, healthy and rewarding New Year.