ppa signing and funding deal, page-5

Sorry guys, there's a long way to go before PAX gets to production. To start with, I don't recall ever seeing formal resource estimates from any of PAX's Indonesian projects using the Australian geothermal reporting code. So how can we trust the published resources? What would we think if they were reporting on a gold deposit?

How much exploration drilling has been done to confirm the published resources? None that I can recall. So how do you justify spending tens of millions of dollars on production drilling, let alone a power plant or two?

I think it'll be at least 2017/18 before there's any income to PAX. You've got to start somewhere and I think PAX has found the right place, but there's a long way to go yet.