that quaterly update, page-20

Some key topics." Read the ann closely guys.
as it reads in this announcement, to start 2nd rig ""approximately"" in 18 months from date of announcement 11th October(no finite date) and 2 rigs a year (don't have to build 2 at once)" We are still in good shape to crank it up.

(11th October 2010 ann released)
VARIATION TO IP LICENCE
As announced on 19 January 2010, Coretrack executed a binding Share Sale Agreement (“SSA”) to acquire Globe Drill Pty Ltd (“Globe Drill”) (“Transaction”). Pursuant to the SSA, executed between the Company, Globe Drill, Strange Investments (WA) Pty Ltd (“SIPL”) and the remaining Globe Drill shareholders, and Mr Warren Strange as covenantor and guarantor, Coretrack acquired 100% of the issued share capital of Globe Drill. Globe Drill has a licence to use intellectual property rights (relating to the GT series of geo-thermal drill rigs) which are owned by SIPL. As part of the Transaction, SIPL entered into a new licence agreement with Coretrack and Globe Drill in respect of these intellectual property rights (“IP Licence”).
The existing IP Licence grants to Coretrack an exclusive licence to use the IP for the manufacture and operation of its geo-thermal drill rigs. It also requires the Company to manufacture at least two geo-thermal drill rigs per year, following the successful commissioning of the first drill rig using the IP, which occurred this month.
Following the decision by the Board to focus in the short term on securing long term commercial contracts for the first geo-thermal drill rig before commencing the manufacturing of another rig, the Company is very pleased to announce that it has varied the IP Licence agreement (“Variation”) with SIPL on the material terms set out in Annexure A. The principal change to the IP Licence is that the Company will no longer be required to immediately commence manufacturing another rig. The Variation now requires the Company to commence the manufacture of the second geo-thermal drill rig in approximately 18 months time.
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In consideration for SIPL agreeing to the Variation, subject to shareholder approval, Coretrack will issue to SIPL 4,500,000 shares (“Consideration Shares”) and 4,000,000 options (“Consideration Options”), exercisable at 25 cents on or before the date that is 3 years from the date of issue, subject to the vesting conditions that 1,000,000 options will vest upon each execution of a binding, bona fide commercial drilling contract relating to the use, hire or otherwise of Globe Drill geo-thermal rigs, with a total contract value of at least $2,000,000.