sengkang update due, page-13

Hi RB,

I speak daily to a couple of guys who are in communication with the company at the top.

One of the bug bears from us as faithful holders has been the historical lack of news. Fom the companies viewpoint they are on a knifes edge in regard to Indonesian laws about information disclosure in Indonesian projects, even if it is by an ASX company. I would love more information, because you could say we as investors are showing an enormous level of good faith on a limited information pipeline. Having said that, I am personally more than happy to back SE with what information we currently have.

This is similar to Oxiana in the 1999 / 2001 days, we all knew their Sepon development would eventually deliver the chocalates however at every turn we hit time delays. Then, the price was 5 and 6 and 7 cents and the traders were bitching about a fraction of a cent here and there, throwing the price aound on a daily basis and us as long term investors would watch daily on every cent move our investment being was being tossed round. It was extremely frustrating and one would often wonder why the hell they just can't get things going any quicker.

But in every case, just like EWC there were tangible reasons why things are not happening quicker. Frustrating though. Patience and belief is needed in truckloads.

Now, don't shoot the messenger, I am only going on information I have received.

I understand the actual ground construction work at Sengkang is quite elementary. This is the beauty of their modular LNG design, once the components arrive, they bolt up and get the plant together. The major components will be shipped once the groundwork is completed and ready for the Siemens and Chart deliveries. I would imagine we are talking very soon.

I don't what the word is, but the EWC share price in my own mind is still very much ' UNBALANCED ' , in other words it is valued on what information is currently at hand - limited information, therefore the share price is well under fair value IMO. When some real hard core news hits the screens that will be the time for a rerating to fait value.

These are only my thoughts of an enthusiastic investor and should be treated as such.

Cheers

Mont