Ann: $1.5M Expressions of Interest for Public Offer, page-12

Hi All

I was just thinking about the performance incentives out there for US partners Bill Toman and the San Marino group if they can secure a 2 MW power contract. From my back of an envelope calculations this, if it could be secured, could be a company making contract. If we deduct say 12 days a year for maintenance and downtime we would have 2000 kWh x 24 x 353 = 16944000 kWh x 30c hr = $5,083,200 in earnings per year minus construction and maintenance costs with down time included.

Three or more 2 MWh contracts and I would think investors could start to receive some reasonable dividends.

Wave energy's prospects for 24/7 energy generation with no fuel cost is a tantalizing thought. But we will need patience. It is going to take a while to manufacture the first 30 Protean WEC's and then to get the array engineering right.

What happened when the Ford motor Company got the engineering right for the first mass produced motor car? I know the market is sluggish at the moment but IMO there is still a huge potential here.

All IMO.

Best wishes to all holders.

Regards,

Chilloutman