Ann: Cooper Basin Project Update , page-5

This news is really excellent. No one has had two enhanced fractures in one well previously. Multiple fractures are essential in order to gain sufficient flow from the well. The information given is preliminary but then GDY is probably saving up some thunder for later this week.

The Australian Geothermal Energy Conference is on in Adelaide this week (17-19 Nov) and the GDY CSO, Doone Wyborn, has been allocated a special solo slot on Fri at 1.45pm: "Description of the October 2010 hydraulic stimulation of Australia?s deepest and the world?s hottest EGS well, JOL 1." No doubt they will want to keep some key data up their sleeve until then, as well as have as much of the data analysed as possible for maximum effect. They have done this before of course. Last time, for HAB 1, they came out with a magnificent looking 3D micro seismic cloud diagram that showed kinematic expansion over time. That would go down very well at such a Conference and just before the final dignitary speeches by leading lights. (But it does take time to prepare good displays.)

Etrade did not register this announcement till about an hour + later after release. Possibly some other sites had a similar problem. I think this news is far more significant than the previous three updates. Perhaps the market is easily befuddled by too much technical data?

The whole sector needs GDY to progress its EGS.

Juke