perth shareholder evening, page-18

Kashga,


Order Type: Sell
ASX Code: PTR (PETRATHERM LTD FPO)
Executed Price: $0.905
Quantity Ordered: 50000
Quantity Outstanding: 0
Quantity Executed: 50000
Expiry Date: 18/12/2007
Status: Executed


Still kicking myself, as this was only executed just before the spike. Probably my worst trade for the year, but more than compensated for by the GDYO spike.

I still have a fair few, but I feel there is more spin than substance, and that PTR would publicise their own farts if they thought they could get away with it.

The HEWI model is just a slightly lower cost, low quality HDR system based in sediment. If GDY/GRK/etc terminated their drilling in the shallow sediment layer, it would be the exact equivalent. I have to hold the stock in case it is a viable means of heat extraction, but would say the model will not be competitive with conventional geothermal, and certainly not with higher quality HFR projects.

Just my opinion, based on the current understanding of heat extraction efficiencies. With a target depth of 4000m, it is doubtful the capex reduction will be significant.