I believe we have actually lost a good man in KP, god knows he was up against it. Our primary concern is remaining financial during the protracted ppa process. It was nice to see that members of the Indonesian government are agitating others in the government through the media. I think we have all seen what the media can achieve today. I don't think it will help Dairi Prima as the government has little to gain there and there is talk Bakrie may be trying to divest his interest in the mine but it may help sokoria and ngebel.
I have a degree of angst about our playing with Pacific Energy International - a shell company that only sprang back to life in November 2012 after being shelved in 2007 around the same time its director James Kwok was sentenced to 24 months for fraud by ASIC. I must correct myself regarding Hidro+ as it appears James may have sold his exclusive licence for the technology for $1.6M back in 2011 although he is still listed as the web designer for Hidro's website (jack of all trades?).
As to the future ... There is definitely something afoot what with the entire board being changed and upcoming name change, perhaps a Raya hope (I just made myself sick with that one).
You can guarantee a cap raising of some sort and I wouldn't be surprised to see a significant change of focus (unfortunately) who knows what little surprises we discovered under our feet when we drilled a hole in SA looking for steam, our GEL's may just become EL's.
In terms of an investment. PAX really hasn't got much ground under it but an awful lot of sky above, I expect it will be the plaything of day traders for a while until we get some news.
I continue to hold and dream of what could have been (and may yet) if only a lot of things outside of our control fell in place.
PAX Price at posting:
2.0¢ Sentiment: Hold Disclosure: Held
