Ann: Investor Presentation, page-17

Lemonwasher, thanks for the reference.

I see on page 18 the only figure I have found so far where they quote a cost figure, which is < $128/MWh (or $1280/kWh), but this is a "target" - that's the only figure I can find - but bear in mind the wholesale price for electricity is around the $60/MWh level (although spikes depending on loading). There are a lot of references to "low cost" but without quantification. As I said, onshore wind is the lowest cost commercial RE source atm, around $150/MWh, and they don't make money without government subsidies (which is why many of the big commercial projects have been on hold till the RET was finally negotiated - their viability depends on the subsidies linked to the RET).

The UK Carbon Trust Wave Energy paper that the company's preso references is a very interesting read. I'd be interested if the company put out a quantified projected cost model.

I am much more used to investing/trading in the O&G sector (and hence why I am looking at other sectors now, because that sector is rock bottom and may be for some time) where I am used to understanding both the cost structure (which oilers provide information for) to produce oil and the market price for the commodity. I understand the market price for electricity, but the cost picture for this technology is not clear, other than it is "low" - SHE hasn't provided real figures yet that I have found in my reading.

Cheers, Sharks.