Ann: Presentation to AGEA 2012 Conference , page-4

KK - I'm certain there is a future for geothermal in Australia, and for Australian companies in overseas projects.

The problem, as I see it, is that the Australian geothermals are not selling the technology potential well, promote unrealistic timelines, and are spending far too much on admin rather than development. Some also have projects which are technically or commercially suspect. Uncertain Federal Gov policies towards geothermal also play a lesser role but I think they are understandable in view of the short-term attractions of wind and solar.

At the moment I think the Australian geothermal industry is still in its infancy and still catching up with the rest of the world. There will be some bumps along the way but the reasons for the journey, to improve global energy efficiency and mitigate climate change, are even more valid today than when the Australian geothermal first floated on the ASX.