pretty much nothing out of the ordinary at the AGM.have the...

pretty much nothing out of the ordinary at the AGM.

have the following tit-bits though
-OEC did the initial work on the LLi Holden HSV coming out next year
-HSV LLi is using Orbital Autogas supplied components so look to it as our low-volume, high-performance,halo product
-the HSV LLi cuts back to gasoline driven upon pedal-to-the-metal acceleration to capitalize on the fact that all rigorous durability and performance testing has already been done and proven in the original gasoline engine design of the car and doing so thus lowers developmental costs. this is different if the car is solely LLi in which case, the engine has to be optimized throughout with the
LLi system. currently, Ford has a LPG only product which is the E-gas and is thus going forward with the LLi enabled LPG only product; Holden at this stage doesnt have this LPG only capability.
-OEC does not have a patent on the central location of the DI. primary name to fame is the "low-pressure air-assisted" aspect to DI
-OEC does not have an exclusive patent lock on being able to inject multiple fuels through DI
-nothing much about Terry's group trip with the government officials to the US: went to Detroit and visited GM among others to get an idea on the development paths of the "big" auto outfits over there and how the Australian industry can
play a part, saw the GM Volt...
-Orbital Autogas brochure alludes to up to 40 LLi kits going to be released this financial year
-clean-slate to production ready development path for an engine takes 4-6 years
-OEC currently does not have a completely designed OEC DI ready engine except the 2-stroke OCP-DI engine used in the Genesis program
-there is no demand for 2-stroke auto engine development. all DI work centers on 4-strokes in auto
-chinese seem to have an attitude of wanting to be different so there is a better chance of chinese auto taking up flex-di compared to the western countries in the past. if the ChangAn program is successful, may open up further doors for FlexDI in auto thus opening up the floodgates. BIG IF!

This was the first AGM i've been to in a few years and the first where Terry is at the helm. first impressions are that he seems to have a much clearer strategy
in taking the company forward. seems to be a easy person to speak with, quite a dynamic personality without being over-bearing or overtly domineering and kept the meeting quite informative and light-hearted which is good.... better and increasing profits down the track would be much better news. we'll see....

Terry mentioned that there are various opportunities being pursued which are alluded to very superficially in the AGM presentation and his projections are encouraging but declined to name actual numbers but said that as a shareholder, if they do come true, shareholders would be pleased... so its another one of those we'll believe it when we see it scenarios. from public records, he's put
quite a bit of his own money where his mouth is though.

-the employee long-term performance bonus criteria was changed thus from memory:
50% base of performance of company relative to its listed peer group and the remaining 50% only paid if OEC achieves earnings of 1.5c/share. this 1.5c/share is interesting in that the directors must be confident in hitting and exceeding this target in the few years to come to even dare to implement this on their own accord. i cant imagine anything that has forced them to make this concession.

the following were on display (apologies, no pictures though)
-a LPG-LLi-gas Holden V6 on display (seems it was Terry's former car)
-various LPG LLi components

i'll have to read the ASX releases and see if it jogs my memory and reminds me
of anything else i have to share