Yes crawfishcity, BPM do have some leverage over EWC - 60% of gas in the ground belongs to BPM and 40% to EWC. Although EWC own 100% of LNG once produced.
The problem I have with this situation is that BPM are requesting EWC to confirm was gas is in the ground in their fields before they will give any approal for power extension and building of an LNG Plant. This sucks, as once EWC confirm what gas is available, BPM can say you have sufficient gas with your 40% to cover the extension of the power plant and build a LNG Plant for 5 years, so we are going to do what we want with our 60%. Who knows what their intention is.
This is all very possible and I would say a major concern for EWC.
EWC Price at posting:
49.0¢ Sentiment: ST Buy Disclosure: Held
