Geodynamics Ltd on March 25th announced that open hole flow from Habanero 3, with reinjection into Habanero 1, had been proceeding since Saturday 22nd. Circulation was sustained at 20 kg/s and the temperature was 212°C at the Habanero 3 wellhead.

Torrens Energy enters agreement with GulfX Ltd 

Torrens Energy Ltd on Monday the 10th of March announced that it has entered into a cooperative exploration agreement with coal explorer GulfX Ltd. The deal will see the two companies sharing costs for things like permitting approval, and sharing geological information. The deal covers an area at the top of St Vincent’s Gulf in South Australia, where both companies are planning drilling programs.

Geodynamics Ltd shareholders voted overwhelmingly at a general meeting on Wednesday 19th to accept the Origin Energy farm-in proposal announced on 29th October.

The deal gives Origin a 30% stake in the Habanero project.

Peter Barnett was announced as the new Executive Director and CEO of Hot Rock Ltd.

Peter comes to HRL from New Zealand, where he is a Board Member of the New Zealand Geothermal Association, and was Geothermal Manager for Sinclair Knight Merz. Peter comes to Australia with over 30 years experience in the global geothermal industry.

Also on Wednesday 19th, but on the far side of the world, US President George Bush signed the Energy Independence and Security Act of 2007.

The Act included the "Advanced Geothermal Energy Research and Development Act of 2007”, which authorizes a total of US$95 million annually and directs the Department of Energy to undertake a broad and aggressive research program to promote geothermal energy, especially engineered geothermal systems. The DoE has already indicated a desire to cooperate with Australia, so this is likely to have flow-on implications for the Australian industry.

Allegiance Mining responded to Zinifex’s takeover bid on Tuesday 18th by advising all shareholders to take no action at present.

The Allegiance Board is assessing the offer and will advise shareholders further during the coming weeks. The future of Geothermal Energy Tasmania may ride on the outcome of that assessment.

The Australian Geothermal Energy Association (AGEA) held its first annual general meeting in Melbourne.

Victoria’s Minister for Energy and Resources, Peter Batchelor, addressed the meeting, reaffirming Victoria’s commitment to geothermal energy as one strategy to meet greenhouse gas reduction targets.

Geodynamics Ltd also updated us on progress at Habanero 3 on Tuesday 18th.

The down hole motor mentioned on Tuesday 6th was working as well as hoped. The hole was at 3737 m and drilling on at 12¼” diameter. GDY aims for a further 323 m at 12¼”, and then 192 m of open hole at 8½” diameter.