still greatly undervalued

Not many following this one, but it will be the FIRST of the LNG hopefuls to produce LNG (from early 2010). PLUS they already make US$60m/yr from electricity generation now, with 2 more upgrades this will rise to US$100m/yr within 18 months. MOU in place with same customer as electricity (Indonesian power) for 1.5mT, with option for another 5mT. I’ve confirmed through google searches of their power plants that they are 6.5MT short of gas over next few years, so this deal is pretty firm.

Plus we know Tokyo gas & Sinpopec (China) both in negotiations with them for up to 5mT each.

They have 2P gas of 700BCF; Tricom value that alone at 35c (VERY conservative c/w recent gas valuation tranbsactions), plus $150m cash + US$5m/month from electricity sales; on sale at 25c today.

Interesting with all the hype around the other LNG, CSG etc, that EWC just can’t get any traction (although good rise from 18c last week).

smashed further than market with several funds forced exit last year.

No website, but very good presentation for AGM ASX ann. 29/10/08. This also details their plans for 5mT LNG in Queensland.

http://research.iress.com.au/IDS/old/20081029/00896643.pdf?uid=756B192424CB46B3C05D94771B2BBAF20B190000C1166C81AB71E340D362000080030000&ppv=0

Their aim is 15mT LNG production within next 5 years. MD Stewart Elliot better known in Asia where he has built multi billion $ energy business before.

They have cash & funding agreements (recently reconfirmed) sufficient to take them to full production of 2mtpa LNG.

Energy & Gold for me in this climate for those stocks to hold. I'm 60% cash/hybrids.

as usual;
CAVEAT EMPTOR - risk in all stocks.
Everyone should seek professional advice & not make investment decisions based on what they might read on an Internet chat site, or receive from me (who is just an enthusiastic amateur).
Remember, this information is probably worth what you paid for it.

cheers,

ned.