Oranjewell I note that his previous 3 or 4 articles were...

Oranje

well I note that his previous 3 or 4 articles were published on the last Saturday before the beginning of the the next financial quarter (starting in March 2012), and appear toi have been almost word for word lifted from a well known shorter's blog or from a letter that appeared to be written by aforesaid shorter which was doing the rounds in financial circles. I also note if anyone was short the stock at the time of the articles they would have been nursing a loss. So if those articles impacted the price, shook out stock as longs faced margin calls, provided an opportunity to cover, or beautify a big red short P&L, then it is clear who has benefited - but I have to take Mr West's word for it when he says in another article that "articles [in a national newspaper insinuating fraud in a closely held company] would not impact the share price". And I also note the same shorter states on his blog that he has passed his financial analysis to Mr West, and then congratulates him on a good job.

But I would be speculating if I were to suggest that information obligated Mr West or whether his motivations deviated from getting the story at the time and at any other time, or where the latest analysis came from this time(it could have been lifted directly from this site)and whether these motivations run counter to the all round shareholders friend he claims to be. I would be speculating as to what was meant by a "good job" from the perspective of a shorter. I would be speculating because Mr West has never attributed his view on EWC to anyone - let alone a professional investor with a short interest - so we have to believe him when he says there is no ulterior motive.

As I have said before the related party transactions have all been disclosed, there may be some dissention as to whether the $32m paid to Slipform for the LNG project design etc was premature or excessive (but has been disclosed since 2008), or whether Slipform should have all the construction contracts novated to it - But there we go - I am pretty sure they were approved by the shareholders meetings.

It is now indisputable that someone (slipform perhaps?) carried out the FEED work that has resulted in £200m worth of equipment being delivered to Keera, and a 180mw expansion at sengkang being completed. So Mr Wests claim that the work was not carried out, or that the auditor is somehow negligent is disproved.

But there is no doubt that aside from the power expansions, the projects have dragged on and on. And there is no doubt Mr Elliot has revealed projects that perhaps in retrospect he should have kept under his hat.

So as I have said, its will be soon time to demonstrate whether EWC can deliver its molecular LNG at less than $350m per annual tonne. It is can the design/engineering work is a snip at $32m. To be able to feed the plant from the sengkang PSC, and distribute the LNG to EWC owned power stations throughout Asia will be priceless. At that time, which is likely to be 12 months, it will become clear whether investors should have gone red or black. I am not sure why Mr West would want to set this bet up at this time.


In the meantime am taking the opportunity to top up. Thank god for Michael West. Hip Hip hooray.