info - 1 month ago, page-2

JV with MOL for Conventional Geothermal
Power in Hungary
Note *********

? MOL is Hungary’s largest company
? Budapest-based JV (50% GRK / 50%
MOL)
? First commercial project identified
? Former MOL petroleum well tested and
acquired
********** Concession process (under EU law) to be
implemented soon
********** Securing concession for target area
anticipated in first half 2013
? Second well by end 2013, initial electricity
production 2 years later
? CEGE supported by Dr. Jörg
Baumgärtner and his BESTEC team
? Government funding support possible for
first project. Feed in tariff equivalent to
~A$130/MWh
********** GRK seeking to fund its interest from
European investors once concession
secured