flyboy,in response to your ngebel feasability study and how they...

flyboy,

in response to your ngebel feasability study and how they will finance it, the key to PAX is how fast they can accelerate Dairi Prima to generate revenues and cash flow to cover the even larger finance needed for sokoria and then ngebel.

The Dairi prima project will access the wells existing on "PLTP Sibayak" should a deal be struck with PT PLN to utilise and remediate the exisitng wells. if we dont strike a solid deal on that front you can forget the late 2013 early 2014 time frame for production. if the wells are accessed you can eliminate the need for the drilling of the wells which would take a year or more. It will be all about expanding the plant size and remediating the existing wells and increasing the current plant capacity. How the deal will work is still to be seen but likely will be the sale of steam by pln to panax imo. although production is cheap, there is the underlying cost of the purchase of steam by pln which i think wont be free and what that cost will be is probably under negotiation at the moment.

so imo dairi prima is the answer to revive the company in the short term and provides the financial foundation of cash flow to advance our much larger stream of assetts.