bpmigas rejects development plan for sengkang , page-6

I totally agree Oranje.

I would be careful not to place too much negative emphasis on this newspaper article. However, on the face of it, it may tip those who are not totally up to speed over the edge. The article reads as if BPMigas require more information. I have confidence that this information is there and will be provided.

As has been said before, there appear to be numerous parties who want involvement in this project and, if nothing else, this posturing confirms to me that value is finally being uncovered.

Finally the "penny has dropped" that Sengkang Power/LNG is an incredibly attractive project for not only Sulawesi but Indonesia as a whole. Far too much is at stake in terms of servicing the local power and LNG demand, not to mention other foreign direct investment in Indonesian projects.

I have total confidence in having an experienced Asian player and ruthless negotiator such as Stewart Elliott on our case. This has been expected and this is where he thrives.

Sure we may have a reaction, but be careful not to throw the baby out with the bath water and keep your powder dry. We just may witness the final capitulation!!!

Regards

Pihrana