making sense, page-3

Hry Oranje,

I'm not accusing them of being fools ,unfortunately it's worse than that.

I appreciate your attempt at explanation which doesn't really help your case.
Nothing you say is a new development, it has been the case since EWC first touted the project that they are part owners of the gas in ground which would be needed to supply both LNG Project and Power Plant. So at some stage they would need to satisfy requirements of different Indonesian Regulatory authorities.
They seem to have been extremely confident of their ability to do so in all the Roadshows, announcements and leaked conversations with shareholders right up till a few weeks ago.
I assume you were at the 2009 AGM ( upon which i have already submitted a particularly tear inducing Post ) and heard the siteworks in 6 weeks, ships on the water, no POD needed etc talkfest.
Do you have a view on why they chose to present such an unrealistic assesment of the situation at the AGM?
What were they hoping to achieve ?
Why was/is honesty never considered an option by these guys?

In 2009 AGM report $26mil is disclosed as being paid to Slipform ( SE's company ) for ongoing development of Sengkang LNG.Given the progress made to date (nil ) , do you have an opinion what this money was for.

Why do you assume that the problems with PLN and BPMIGAS will be solved in 6 months, is this advice you have sourced from EWC ? How does that reconcile with the veracity of previous advice ?

You and Mont have been strong supporters of this company ( as have I ). I think we all have an obligation to be a little more critical and particularly refuse to accept the bs 'sensitive negotiations' excuse for non-disclosure that has been used for at least the past 18months without apparently any of these negotiations ever reaching a successful conclusion.

Regards Shamish