Ann: Thames Water and Odournet update-PEH.AX, page-7

At $300,000 for 2 sites, we could see in 12 months PEH announce a contract for the remaining 28 sites (for arguments sake) to the tune of $9,000,000. Let's be conservative and apply a 30% discount = $6,000,000.

This is for 1 client of which there are estimated to be 7,000 globally and we have bagged one of Europe's biggest. This is through one partner, Odournet who are now looking to introduce us to France & Spain.

Noting we have 5 other partners and are diversified, having contracts in the industrial, agricultural and mining sectors with big companies such as BHP and RIO for dust monitoring and are seeking to penetrate other sectors such as landfill management later in the year.

Current SP = 11c, MC = $15m.

Time for the market to wake up.