Last year the AGM update made some statements as to what was happening this year. Amongst the statements made mention was made that in the first half of 2012 it was planned to produce power up to 7.5MW,I installation substation and transmission line, and drill the 2nd producer well.
Since the Nov update I haven't been able to find any additional information that the first half of 2012 activities are proceeding. I don' t hold with any statement that the project was delayed by inclement weather. There is always regional seasonal weather patterns that are well known and should be taken into account when setting construction/drilling projects. Neither do I accept that the extended scope of the renewable energy project caused a delay because come what may you still need the 2nd producer well. So what is happening?
Has the departure of TruEnergy had more of an effect than could be anticipated? I thought there was enough Federal funding to proceed with just Beach on board. Perhaps we are trying to get another JV partner on board ?
I think that as Q1 is nearing its end that only leaves us Q2 to complete the first half programme for 2012.....things are getting tight as far as a timeframe is concerned.
Hence my subject title "has Paralana stalled?"
I reckon a project specific update is required on the Paralana project.
kippax
PTR Price at posting:
8.6¢ Sentiment: Hold Disclosure: Held
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