Ann: Sale of South American Projects , page-3

Jeez ever the optimist oakey. Maybe this geothermal business gets in the blood? I was even looking at GDY the other day.

All of the geothermal companies have been rushing to get out of Australia and into conventional geothermal. Even PAX (now RYG) got out of the Otway Basin area hosting Koroit. $3m wouldn't keep you drilling for long, and there'd be little chance of raising more capital.

EDC must be slapping each other on the back over this. They get everything of value, the whole shop, even the drill casing. EDC even get to exclude the three projects they've already proven unworkable.

I'm sad to see HRL wind up as a geothermal company. I was waiting on the come-back.

So I guess now we'll see the same ol pattern. Strategic review, new business direction, capital raising...