This ann is useful assurance that something is still happening...

This ann is useful assurance that something is still happening but it's not enough for me to buy. Let's say they get a PPA or two tomorrow and are ready to start drilling the day after. How are they going to raise equity in any project?

If, for example, a 20 MW plant costs an even $100 million, how is PAX going to put in enough equity to convince banks to lend them, say, 70%, ie $70 million? If Bakrie puts in 50% (or whatever it is for each project), or half of the remaining $30 million in this example, PAX will have to raise the other $15 million. The SP will have to improve dramatically so they can sell more shares. I just can't see it happening.

The problem is that there is no Plan B while they wait for the Indonesians.