I agree, Marmaduke. Don't let GDY management near this...

I agree, Marmaduke. Don't let GDY management near this particular baby. Nah, seriously, PTR can and does learn a lot from GDY and perhaps being the 2nd most advanced EGS company in this burgeoning sector could be the best place to be, let GDY make most of the expensive mistakes and just cruise along slightly behind.

Apart from the GDY takeover Asf I agreed with all of your other points. A director buy wouldn't have to be huge but would look good on the chart (HC chart emphasises this especially).

I find it heartening that Beach are still in our corner, it would be great if they could step in with finance but sometimes i wonder: If the JV partners have big gas interests, is it always in their overall interest to have PTR (for example) in a strong cash position? I know Origin have backed away from GDY and have said that they see geothermal kicking off more so 'later this decade.' If geothermal was fully proven with demo plants running, could that not affect the long term viability of new gas projects, including shale gas? Perhaps I am being paranoid. I know Marmaduke you have said that the JV partners are a big strength for PTR, perhaps you care to elaborate or put my mind at ease?

Am I correct in saying that 95-99% of the development costs involved in getting PTR right through to their 25mw demo plant stage are covered by the JV patrners and gov't, and PTR only need the raising to cover their own cash burn and a few hundred thousand here or there for their share of the project costs?

Asf I take your point about the market not finding steam as sexy as ore. Here is a little steam porn for the true believers.