emr 22/2012, page-4

hey primo,

i'd say your definately spot on. Fantasitic landmark week for shareholders imo.

We couldnt sign a ppa becuase the prices werent set yet. Until the regulation came in, no guarantee on price was pegged above 9.7c. The existing PPA's signed in the past few months by supreme energy and GDF suez were under the 9.7c maximum so they opted to stuff waiting and get the ball rolling earlier in th year.

Now with a guarantee on price officially regulated, we have 1 final hurdle to deal with and that is the ministry of foresty as our projects are all based within protected forests.

"Big Boys first". The Ministry of Forestry yesterday has approved Chevron to exploit geothermal within a protected forest. This makes it a double win for us today i believe. the PPA's cannot be far if the regulation is through and coordination clearly displayed between the ministry of energy and ministry of forests for exploiting geothermal on protected land.

It is worth reading the statements made by GDF suez on the price change. they have 3 projects now on the go with a target to acquire 2-3 more projects.

if you are into lunar trading in anyway at all, today is a very significant day being the first Blue Moon in 3 years. Big things tend to occur on and around these major lunar events. Hilary clinton is coming to Indonesia on Monday and it will be largest ever delegation by the US into southeast asia.

i think today is the pivotal moment for PANAX.