2011, page-49

Moosey,

the following information (contained in the December 2010 Half Yearly Report) and listed here for each of EWC's major current and proposed projects, may be useful as a benchmark in respect of whether EWC has embarked on a 'can do' philosophy.

Sengkang Power Station
PPA: until 2022
Commercial operation of 60MW gas turbine: September 2011
Commercial operation of 60MW steam turbine: September 2012
Cost: 60MW gas turbine plus 60MW steam turbine: US$160million
Financed by Standard Chartered and Mizuho Bank

Sengkang LNG Facility
Commercial operation of 1mtpa LNG: 18 months following BPMigas POD approval
Commercial operation of additional 2x0.5mtpa: at 21 months and then 24 months respectively following BPMigas approval.
Cost: 2mtpa modular trains: US$350million
Financed by non-recourse project finance (via Standard Chartered and Mizuho Bank) plus 2008 capital raising.

PNG LNG Project
Commercial operation 2mtpa LNG: end of 2013
Cost: 2mtpa LNG plant: US$550million (2010 Annual Report, page 43)
Cost: 2mtpa modular trains plus 150MW captive power station: US$900million
Capital costs per metric tonne of LNG production: US$455
Proposed to be financed by equity and debt finance (leading banks and gas industry specialist (2010 Annual Report, page 43)).

LNG Hub Pagbilao
Commercial operation of phase 1: 2012/13
Cost: Phase 1: 130,000m3 storage tank: US$100million
Cost: Phase 2: 130,000m3 storage tank: US$70million
Cost: Phase 3: 2x150MW CCGT power station:
Proposed to be financed by co-investment by financiers and industrialists in Philippines.

Abbot Point
Commercial operation: 24 months following approval of LNG facility location.
Cost: 1mtpa LNG plant: US$250million
Cost: 350km pipeline: US$388million
Cost: 550km pipeline to Gilmore/Eromanga: US$862million
Proposed to be financed by leading banks and gas industry specialists to co-invest and to provide project debt finance.

Modular LNG Trains
Cost per 0.5mtpa: including all support facilities (but excluding primary gas processing plant at gas field and power generation (via grid supply or captive power plant)): US$125-150million