diversification , page-7

Hello Lemas and Roznov.

I appreciate the feedback, thanks. Lemas, I also hold some of the TEYO, they look like they are a few years out from generating electrons, preheating water or distilling seawater, but the excercise date will allow us to be patient. I view TEY as an interesting company because of the sector it is in, not because of it's own geological merit.

Roznov, my frustration is partially based around the expiry date of the GRKOA, but mostly stemming from the inability of management to break the current stalemate. The O.D project really doesn't look that good at all, especially when noting the advances GDY have made, and Ortahaza is nothing more than a liability, so the company really has to make good with the Cooper Basin conventional project (possibly gaining access to GDY transmission infrastructure) or the newly announced distillation project. GDYs PPA with Origin is weak, and easily terminated on several conditions. If GDY were ever to announce early-stage negotiations of a PPA with BHP at O.D (likely to be after the 1MW stage and before the HotRock50 stage, possibly after 2008), GRK will experience a major SP slump. Judging by current prospects, I hope to have converted my options and sold the FPOs before then.

Of course any number of events or data releases could entirely change the situation before 2009, and I'm going out on a long limb to make estimates of potential PPAs, so all of those nifty acronyms regarding 'IMO' and 'DYOR' apply. Both the conventional project and the desal (very big future in geodesal I expect) could be absolute rippers, and some confirmation of their possible potential would be a very market-friendly move right now.

I am still of the belief that the long term GRK SP trend will be positive, I just believe better value is offered elsewhere in the sector at this stage and market cap.