Ann: PT. SSLNG Land Remapping Completed, page-9

Market not to be too interested in fair value at this point. Fair value has to be a lot more than the current s/p IMO. I think I am correct in saying that when Sulawesi was just a bare block of land the market valued EWC s/p at $1.40. The 4 year delay killed the share price down to only 5 cents. Now we find that the company has the full go ahead for production of up to 2MTPA of LNG, the plant is almost complete with $343m already spent on construction, and only a further $35/50m required for completion of the project. Then big cash starts to roll in. So was $1.40 fair value for a block of dirt with nothing on it compared to 12cents with the LNG project almost completed? Once EWC gets over being one of the most hated stocks on the ASX the price has to move up to a more realistic value reflecting this complete change to progress in Indonesia.