EWC - Energy World Corporation

[maui4marko]

Looks like Morgan Stanley thinks something is brewing... they've accumulated 132M shares since January, for a 8.5% position http://www.asx.com.au/asxpdf/20100602/pdf/31qn1shtw885m9.pdf Interesting seeing their accumulation patterns.

Methinks its related to the PNG opportunities, but don't yet know enough about their other business areas to comment. Anyone have any ideas?!?

 

[maui4marko]

News brewing? Increased volume and pps prompted ASX inquiry:

http://asx.com.au/asxpdf/20101215/pdf/31vmkvpjgytzrf.pdf

 

[pixel]

I've traded EWC a few time in the past; but since it's gone into consolidation pattern, I've left it alone, favouring other trades.
Last couple of days, the volume has picked up, and I guess it might set itself up for a breakout from the ascending triangle. I bought some today and shall add if the resistance at 55c is broken.

 

[basilio]

Saw a very interesting story re Energy World in The Age. It seems as if for all the talk about building LNG plants and raising hundreds of millions of dollars to that end..... there doesn't seem to be any plants in place.

I wonder what the auditors have to say about this ?

If I was an Energy World shareholder I would be very concerned.

Master of illusion's vanishing act
March 31, 2012

It was pure gold, the best first line to a telephone conversation in years. We called Stewart Elliott this week, the Hong Kong-based chairman, managing director and chief executive of Energy World Corporation.

''What have I done?'' Stewart said.

How does a reporter respond to that? There is only one comeback.

''What do you think you've done?''

We had called Stewart to inquire as to the whereabouts of a liquefied natural gas plant. An LNG plant is not an easy thing to hide - it's no missing sock, or set of car keys.

But somehow, in a feat worthy of David Copperfield, Energy World had managed to make a LNG liquefaction facility vanish into thin air.

Read more: http://www.theage.com.au/business/m...nishing-act-20120330-1w3f6.html#ixzz1qeJyWP00

 

[skc]

Saw a very interesting story re Energy World in The Age. It seems as if for all the talk about building LNG plants and raising hundreds of millions of dollars to that end..... there doesn't seem to be any plants in place.

I wonder what the auditors have to say about this ?

If I was an Energy World shareholder I would be very concerned.

The silence, as they say, is defening.

Richard Chandler tried to use his money to do the talking and the share price was propped up by some aggressive buying. He's now reached 19.369%... so he really can't buy anymore unless he launches a takeover for the rest of the company.

The chart is saying possible support around this level. The market depth is also showing some weak support at 67/67.5. More substantial support lies 60-61c.

 

[skc]

The silence, as they say, is defening.

Richard Chandler tried to use his money to do the talking and the share price was propped up by some aggressive buying. He's now reached 19.369%... so he really can't buy anymore unless he launches a takeover for the rest of the company.

The chart is saying possible support around this level. The market depth is also showing some weak support at 67/67.5. More substantial support lies 60-61c.

It bottome at 41.5c yesterday... late evening EWC released an update on them shipping 4 cold boxes to show that they are actually manufacturing the modular LNG plant and not just talking about it.

I am no expert in LNG or photoshop, but I've attempted to show, somewhat to scale, the size of EWC's cold box (each with 0.5mtpa capacity) relative to the size of a 3mtpa LNG train in Oman.

Either the guys at EWC are absolute geniuses, or they think the market is full of idiots.

If these guys a fair dinkum, it doesn't make sense that LNG players like Woodside, Santos, BG etc don't use their technology (the takeover price would be less than the cost of a minor project delay).

If these guys are a joke, it also doesn't make sense that they haven't been caught out.

Time will tell I suppose.

 

[basilio]

Building a large industrial plant is quite capable of being verified. Even a simple Google view search could do that.

I believe the auditors should be liable for confirmation of what the company has been stating as part of it's financial reports. After all they have raised hundreds of millions of dollars to pay for these operations.

If the auditors/can't won't do some effective inventory stocktake, particularly when it is brought to their notice the possibility of fraud, I think they are liable for losses.

 

[skc]

Building a large industrial plant is quite capable of being verified. Even a simple Google view search could do that.

I believe the auditors should be liable for confirmation of what the company has been stating as part of it's financial reports. After all they have raised hundreds of millions of dollars to pay for these operations.

If the auditors/can't won't do some effective inventory stocktake, particularly when it is brought to their notice the possibility of fraud, I think they are liable for losses.

I am by no means calling them a fraud. I am not qulified enough to know what's going on. It's just that the few data points I see just don't line up, and some thing has got to give one way or another.

 

[pixel]

Does anybody here still consider them a fraud?
The Market, by the looks of the charts, seems to be warming to them.

Weekly chart looks well supported. Cup & Handle maybe?



Daily suggests some buying interest as well.



I hold and will add if the trend continues.

 

[basilio]

I don't know Pixel. I just think the analysis that Michael West did on the company was very telling.

Right now of course the SP is going well so one could hopefully make a dollar on a trade. Doesn't really tell us however if this is legit or just a long con .

http://www.smh.com.au/business/ener...-hot-air-but-not-much-lng-20120928-26qvt.html

 

[pixel]

I don't know Pixel. I just think the analysis that Michael West did on the company was very telling.

Right now of course the SP is going well so one could hopefully make a dollar on a trade. Doesn't really tell us however if this is legit or just a long con .

http://www.smh.com.au/business/ener...-hot-air-but-not-much-lng-20120928-26qvt.html

The report that you quoted was a year old, so I thought things might have changed.
... but judging by this morning's market direction, maybe not ...
So I stopped out quickly.
I could be wrong, of course. Time will tell.

 

[skc]

The report that you quoted was a year old, so I thought things might have changed.
... but judging by this morning's market direction, maybe not ...
So I stopped out quickly.
I could be wrong, of course. Time will tell.

Here's a new one, by Michael West again... on EWC and their recent Jamaican power plant stuff plus some old dirt re-visited.

http://www.smh.com.au/business/jamaicans-question-deal-with-australian-company-20131010-2va5l.html

 

[Gringotts Bank]

Anyone know of a good reason not to short this?

 

[skc]

Anyone know of a good reason not to short this?

Short and hold hedge fund style? Or short today intraday?

Here are a few reasons why you don't short this.



Short the spikes, not the lows. And remember the relationship between market rationality and your solvency...

 

[Gringotts Bank]

Short and hold hedge fund style? Or short today intraday?

Here are a few reasons why you don't short this.

View attachment 54739

Short the spikes, not the lows. And remember the relationship between market rationality and your solvency...

Short and hold maybe a few days. It looks like it could break down to 35.5.

What's that last sentence mean? [edit] it's ok I got it. Market is irrational.

 

[skc]

Short and hold maybe a few days. It looks like it could break down to 35.5.

Sure. Where's your stop? 3-day range could easily be 5-10c either way.

Looks like EWC is mid way between support (~40) and resistance (~46) so thE R:R is not that awesome in my books. It'd be a great trade shorting on the open today, but shorting now has very different R:R.

What's that last sentence mean?

Just another way of saying that "Markets can remain irrational longer than you can stay solvent"... especially true when you are short (AND you are not a hedge fund trading other people's money).

 

[Gringotts Bank]

Sure. Where's your stop? 3-day range could easily be 5-10c either way.

Looks like EWC is mid way between support (~40) and resistance (~46) so thE R:R is not that awesome in my books. It'd be a great trade shorting on the open today, but shorting now has very different R:R.

Good point on the 3 day range. Might leave it.

 

[qldfrog]

Long time no news.anyone having ideas on yesterday massive fall
bought at the open lost 20pc by the close?no announcement i could see

 

[qldfrog]

Long time no news.anyone having ideas on yesterday massive fall
bought at the open lost 20pc by the close?no announcement i could see

With the spp, bought some packets at 8c and sold asap at 12.5c today, a nice $2k easy profit.thanks ewc.i still own and many people were following my lead lol ...so big fall today