When I first read your post it had me excited, but then when I...

When I first read your post it had me excited, but then when I read the update I came to a different conclusion.

From the wording of the update GER is not phasing out its geothermal activities, just putting them on ice.

Despite the change of state government in November 2014, there is still a lack of action and consequently an increased level of uncertainty which has resulted in Greenearth not investing additional capital into its geothermal business at this point in time.

The company has assessed that, on balance, the current regulatory and political environment is unlikely to enable progression of its Victorian geothermal assets in the near future.

I have been on about GER management shelving its geothermal activities once and for all, in the days when I was the sole poster on this stock on HC and unfortunately I am still waiting for them to shelve their geothermal activities once and for all, but management and geothermal are like a dog and a bone - they just won't give it up no matter what!

As for the NEWCO2Fuels situation I am not yet convinced GER have secured the maximum 33.33%. Why? Because although on one page of the update they stated 'Greenearth has secured its investment of 33.33% of NEWCO2Fuels' yet elsewhere in the same report we have 'The remainder of the $3 million USD investment is now due by the end of 30 June 2015. The investment is subject to claw-back by NCF should less than $3 million USD be ultimately invested by Greenearth, the maximum claw-back would result in the Group retaining an interest of 19.68% instead of 33.33%.

If GER had indeed secured their 33.33% holding then I don't see the need for the above to be discussed anymore. Reading between the lines the sentence 'Greenearth has secured its investment of 33.33% of NEWCO2Fuels' might more accurately read 'Greenearth has extended the time period in which it is able to secure a 33.33% holding in NEWCO2Fuels with a $3 million USD investment to 30 June 2015.'

Time will tell, but in any case a minimum holding of 19.68% to GER in NEWCO2Fuels suits me just fine as does the thriving business that Vivid Industrial is (more about them in a future post), but it continues to disappoint me that they are continuing the geothermal division. Management have one thriving business and one really promising business, so why do they persist with the poisoned chalice that is geothermal energy?