2009 agm, page-15

Hey Nipnap,

I just read the agm report and i thought it was good.
I'm not sure if you were at the AGM but Stewart Elliot didn't really spend too much time going through the report ( or the slides ) . He knew we had seen most of it all before and didn't bother too much reslling it.

At the same time , it still needs to be comprehensive to attract new investors.

Anyway the couple of 'new' bits in it i liked were naturally all referencing Sengkang ie the statement that shipping of plant had commenced and at the end the restatement of Sengkang LNG project being comissioned in 2010.
In my opinion this is the first official written commitment relating to progress in 12 months and as such suggests a new level of confidence from a Company notoriously cautious with announcements..

As Prufrock mentioned , any other company would consider this price sensitive and make an announcement on the ASX.

I'm not sure why the late sp drop today but it does seem a good time to be buying.

To Palm Tree,
I'm not sure about your BPMIGAS gas price negotiations theory.
I would assume old power supply gas is already fixed and price increase for new projects ( Power expansion and LNG ) would also benefit EWC as 40% gas owner who don't forget could then reasonably add more margin to sell back to Indonesian consumers.

In any case ,are you saying you didn't believe Directors when they stated there were no remaining issues to progress at Sengkang?
I'd be dissapointed if this were correct as i thought they were asked pretty comprehensively on that subject.
Does anyone else who was there share Palm Tree's misgivings?

regards Shamish