Dear Shareholders

On the 4th November, Havilah Resources advised the ASX that its bid for
Geothermal Resources Ltd
is now free of all defeating conditions.

The company has been advised that as of close of business 7 November 2011,

*Havilah Resources NL now holds 83.82% of Geothermal Resources Ltd.*

Please visit the web site for more information.

http://www.geothermal-resources.com.au/

Geothermal Resources web site includes information about the
off-market takeover offer for Geothermal Resources by Havilah Resources NL.

The closing date of the Offer is 14th November (unless extended or
withdrawn).

Best Regards


Bob Johnson
Chairman
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