Somehow I don't think it's got anything to do with MOU. Looks like someone got a bit of a margin call and flogged off 400,000 - 500,000 shares in a small period of time.
As far as EWC goes. They have the money for their project, they have the gas for their project and so far they've only ever said that they are on schedule for their LNG.
There was information some time ago that the advice to EWC from the banks and others was that they not sign into a contract early as LNG output throughout Asia was low and there is plenty of bargaining power to get buyers. Given the economic climate I wouldn't be surprised if some other LNG projects in LNG either get cancelled or delayed which will be very good for EWC.
Note that they will also benefit from the low aussie dollar although in 14 months when LNG is being sold the aussie dollar may well be right up again (so perhaps might oil and gas prices).
EWC Price at posting:
42.0¢ Sentiment: LT Buy Disclosure: Held
