anyone topping up today?, page-22

Yes I do Dbl, very much so.

If they don't get the REDP grant then I don't see any other ASX listed geothermal player getting a grant as the only other two are PTR and GER, who are both less advanced than GDY.

I realise the pilot plant is a requirement. However, bearing in mind that the REDP has been fats-tracked by the government, I believe that there is scope for a grant to offered on the basis of milestone targets such as a successful commissioing of a pilot plant.

If you've ever worked in government or in a tender process you would know that they always reserve the right to alter the conditions or even withdraw from the the process altogether. Case in point the national broadband network. GDY will have been in close discussions with government for months and while the well blowout is a big hiccup it is a hiccup nonetheless and the committee will know that and (I believe) will offer time and scope to overcome such hurdles. Honestly, I cannot see geothermal not getting an REDP grant offer and GDY is still best placed in the sector for this.

In any case, its a moot point now, see earlier announcement today that the government has confirmed GDY's elgibility. This more or less says "we know you don't have a pilot plant yet but we will consider your application anyway". We may see announcements from others that are deemed to be not eligible e.g. GER or maybe even PTR.

Announcement text:

"ASX ANNOUNCEMENT 14 MAY 2009 Renewable Energy Demonstration Program – Update Geodynamics advises that it has received notification from the Department of Resources, Energy and Tourism that the Company’s application under the Renewable Energy Demonstration Program (REDP) is complete and satisfies the eligibility criteria for the Program."

Happy for others to offer their opinions on this here.