The Road to 300 MW and $2 a share, page-2

Dan, the 450MW of qualified target opportunities suggests that 300MW in three years is eminently achievable, although the FID within 24 months does mean that there will likely be a reasonable time delay before the dollars start flowing in. Guess the more immediate question is how the growth is funded given that this will require much more than ZEN's free operating cash flow. How bankable is ZEN's business model to fund via a bank? Is a further dilutive capital raise required? Is a capital raise scaring off management because they can't participate whereas if ZEN is privatised PEP and/or OPT have agreed to debt fund the additional capital cost as part of the deal?

Changing subject, what do we read into the delay in a further Scheme Update announcement? Now been a couple of weeks since thew last one. My guess is that it means OPT is still talking to PEP rather than playing hard ball.