yesterdays trade downwards took place on the chi-x -
GDY costs still too high regardless of power or not.
Indonesian wells known to have a higher production capacity per well compared to any other in the world. PAX have producing plants/wells next door, i think that producing wells in the immediate vicinity of our projects is enough testament that we have a likely resource - pre-feasability studies already show high potential for a resource as estimated by JCIA.
GDY have hard rock in the desert 5km deep. Never been commercialised.
Pax have steam in underground Reservoirs 2km deep. Commercially proven and at present the cheapest electricity in europe is geothermal power coming out of iceland.
PAX dont need any GDY to resolve any issues - PAX need a PPA as this is a strict requirement to obtaining funding.
Carbon tax or no tax - we are already eligible for carbon credits in indonesia under CDM.
As for salamander, the well is still there - we just dont have the funds to advance our options. on that basis a JV shouldnt be very far away. there is no other option.
PAX Price at posting:
1.2¢ Sentiment: ST Buy Disclosure: Held
