Earth Heat Resources Ltd said that it has decided to start a strategic review to consider the options to maximize the value of the shareholders of the company. The review has been supported by shareholders representing around 30% stake in the company and will commence under the direction of Managing Director Torey Marshall and company's advisors. The review will look to identify and evaluate expressions of interest from third parties for company's assets and review of other value enhancing business opportunities in accordance with the previous announcements with respect to broadening the asset base of the company.

The review will take around 3 months. “The strategic review reflects both the diminished prospectivity for capital markets funding of geothermal projects and increasingly accessible market opportunities in the broader energy sectors. The company's improved cash reserves, strengthened share register, distinctive capability in the energy sector, and strategic intent for creating value through growth provide the basis for a successful company.” Torey Marshall said.