Ann: Epichem enters voluntary liquidation, page-14

Initial reactions seem to be on the negative side however in all reality I have to opinion that this is in reality a positive for PAA. How many other baby bio's do you know try to run an operation such as Epichem was trying to be. At best it was washing its face. At worst it has been another liability requiring management with way more than the sparse resources of PAA. The whole golden bucket thing was a hand me down from others who could not make it work and frankly has been a folly if only targeting the likes of Shell. Takes many many millions of investment to get even to a prototype in the areas they were supposedly targeting. Unfortunate for the people involved and I wish them well in pursuit of their future careers. End of the day Epichem is just not central to the business model of PAA. The story continues to tighten and focus on MPL and that has to be a good thing.