2009 agm, page-14

Thanks for your AGM brief Oranje.
Just arrived back from Sydney after attending the AGM and I suspect there is only one major problem with their progress to-date. That problem is that BPMIGAS own 60% of the gas (in ground) which EWC require to run the Power Plant and also the LNG Plant for many years to come. The discussions between PLN and Brian Allen tomorrow are, I believe, to finally negotiate a suitable price between both parties for that 60% of gas out of the ground. EWC are getting 95% of the revenue from the Power Plant and 100% of revenue for the LNG from the LNG Plant. I suspect that BPMIGAS have been the ones delaying EWC with shipping the other 60MW turbine, which was to be installed last April, but is still sitting in Germany waiting for approval from BPMG and/or EWC. And also suspect one of the major reasons EWC have not shipped major components from CHART etc.for the LNG Plant.

ALL OF THE ABOVE IS ONLY MY OPINION OF THE SITUATION AT PRESENT and I only wish that SE and BA would come clean with the reasons for this meeting tomorrow.
I'm still hopeful we will be producing LNG by end June 2010.