greenearth energy, page-6

The economic use of words in the report leaves me wondering exactly what occured, especially considering the statement "operations to recover it (plug) using drill pipe are underway". Whether or not the plug has moved from the setting position is one for the curiosity file - what we do know is that a fishing operation is in progress for a plug that is 'somewhere' down the well.

Possible buying opportunity on the horizion? I'm looking to move most of my particularly speculative mining exposure (already mostly sold off) into GDY, but have been holding off for the Tuesday report.

After the flow tests, reserve expansion should be one of the first steps towards allowing major institutional investment, but the repeatability of the fracture system at JOL1/JOL2 (higher thermal gradient than displayed by the HAB wells) should be the most significant step towards proving the concept as reliable and economically viable.

Any estimates on when JOL1 might spud? If the stuck/dropped plug is retrieved successfully, the surface equipment is installed without incident, and the Lightning Rig can be dismantled and mobilised to the Jolokia site (which is being prepared) to be serviced then assembled then serviced again, I would guess we will see a spudding in mid-late March (GDYs estimate is that it will take 3 weeks from the initial mobilisation to spud the well).

The Habanero wells are just the lower-level testers for the significant operations and intersections to follow. Higher temperatures will be intersected, and it is unlikely that this will be the last time such anomalies are outlined.