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Geodynamics Ltd announcement regarding Cooper Basin project |
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Tuesday, 10 April 2007 |
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Geodynamics Ltd announced that it has brought forward its
development program for the Cooper Basin, and now “plans to deliver its first power by
the end of 2010 and to then ramp up production to over 500 Megawatts (MW) by 2015.”
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Geothermal energy grabs the headlines of many of the nation’s leading daily newspapers |
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Sunday, 01 April 2007 |
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Geothermal energy grabbed the headlines of many of the nation’s leading daily
newspapers on Monday 2nd.
A media release from the Federal Government following
the Industry Roundtable (reported in Issue 6) resulted in headlines like “Geothermal
power may play big part soon” (The Age), with the first paragraph: “Geothermal energy
could meet up to 10 per cent of Australia’s electricity consumption by 2050, the Federal
government believes.”
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Torrens Energy Limited burst onto the Australian Stock Exchange |
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Thursday, 29 March 2007 |
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Torrens Energy Limited burst onto the Australian Stock Exchange at 12:30 EST on March 30th. Their 20¢ shares began trading at 35¢ and closed on the first day at 33.5¢.
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Australians interested in geothermal energy meet at Parliament House |
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Monday, 26 March 2007 |
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Arguably the most diverse ever gathering of Australians interested in geothermal energy
met at Parliament House in Canberra at the invitation of Federal
Ministers Macfarlane (Resources) and Turnbull (Environment).
The “Industry
Roundtable for the Australian Geothermal Energy Sector” was at once a chance for the
geothermal sector as a whole to enjoy some quality time and interaction with both
Ministers (albeit half an hour), and the beginning of a process to create a “development
framework” for the sector.
The general feeling of the group (or the small sample HDR spoke
to) was that both Ministers were engaged and supportive of geothermal energy and keen
to help smooth major impediments to development. For example, at the suggestion that
the REDI funding scheme is not well suited to applications for geothermal energy
projects, Minister Macfarlane replied with “I bet it will be tomorrow.”
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Green Rock Energy released more information about their Hungary project |
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Sunday, 25 March 2007 |
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Green Rock Energy released more information about their Hungary project in an open
briefing on Monday 26th March. Sustained flow rates at Ortaháza 5 were approximately 1,100–
1,200 cubic metres per day. A flow rate of 2,200 cubic metres per day was required to
support a geothermal power plant.
Flow rates in excess of the required levels have been
achieved in the Pannonian Basin before, and GRK remains confident about the overall
project. The next test location will be selected from the zone in the Pannonian Basin
where the best water flow rates can be expected.
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Torrens Energy IPO closes early |
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Thursday, 22 March 2007 |
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Newcomers Torrens Energy (TEY) announced that their IPO was
“heavily oversubscribed”; so successful, in fact, that it closed early, having easily raised
the full $6,000,000 they were seeking.
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Dr James Johnson gives details of GA’s programme for onshore energy discovery |
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Wednesday, 21 March 2007 |
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At a conference in Adelaide on Thursday 22nd, Dr James Johnson, Chief of Geoscience
Australia's Onshore Energy and Minerals Division, gave some details about how $59
million will be spent on GA’s programme for onshore energy discovery (including
geothermal).
A significant amount will be spent collecting new radiometric data that will be useful in identifying regions of radiogenic granites attractive for geothermal
exploration. The main areas of investigation will be northern South Australia, the
Pilbara and Canning Basin in Western Australia, large tracts of the Northern Territory
and north Queensland.
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HDRPL talk at he Annual Geoscience Exploration Seminar (AGES) in Alice Springs |
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Monday, 19 March 2007 |
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HDRPL presented a talk about “The geothermal potential of the
Northern Territory” at the Annual Geoscience Exploration Seminar (AGES) in Alice
Springs.
The talk generated a lot of local interest, with a subsequent story appearing in
the Centralian Advocate newspaper and a live-to-air radio interview on ABC local radio.
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GRE release update on flow tests |
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Thursday, 15 March 2007 |
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Things went very quiet for a couple of weeks. Some might say “too quiet.” Then on
Friday 16th, Green Rock Energy released an update on flow tests from their Ortahaza
Project in Hungary.
Bottom-hole temperature at Ortaháza No 5 was confirmed at 146°C.
Flow was enhanced through acidification of the carbonate reservoir and is considered
suitable for supply of energy for direct heat but insufficient for commercial electricity
power production.
This means that GRK’s World Bank insurance policy kicks in and
they should get back most of the money they spent on the testing.
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Graeme Beardsmore made representative of WPRB-IGA |
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Monday, 05 March 2007 |
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Graeme Beardsmore was confirmed as an Australian
representative on the Forum (i.e. interim committee) of the Western Pacific Regional
Branch of the International Geothermal Association (or the WPRB-IGA, as we like
to call it).
The position is provisional until elections are held at the end of 2007. On the
same day, he was nominated for a position on the full Board of the IGA. Elections for
these positions are also in late 2007. Membership in the IGA is available to all
Australian individuals (http://iga.igg.cnr.it/iga_about.php?sub=member).
Membership of
the WPRB is voluntary to IGA members residing in this part of the world.
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