re shoot seismic ?, page-20

Are we to understand that after all the years of battling to get this project up and running there is a sudden realization that "EWC must take on an Indo partner and relinquish 25% of their holdings (this is what all the majors do) and all the political issues(games)/redtape EWC has faced is due to this reason. Unfortunately EWC after wasting years now starting to play by Indo's corrupt rules!".

SE and his board are not naive and this is not new to them - they have had years and years of doing business, sometimes successfully, in countries where business ethics are at best questionable.

The issue of "taking on an Indonesian partner" (read corruption/bribery) was raised at the last AGM and SE, in his accustomed flick off manner refused to confirm or deny and retorted "would you like us to do that?"

I started a post regarding this issue last December "When in Rome" but had next to zero response.

Unfortunately for the SHs, games are being played - the "partner" issue is out in the open in Indonesia and experienced operators, as SE is meant to be, know fully well that there is no other way of doing business there, so why wait all this time?

No hope what so ever of finding out from this highly uninformative Board but it is worthy of discussion on HC.

Zepa